EFCC Docks Director, Firm Over N10m Dud Cheque

​ABUJA — The Economic and Financial Crimes Commission (EFCC) has stepped up its clampdown on financial malpractice, dragging Rhas Nigeria Limited and its director, Liwa Sarirddine, before the Federal Capital Territory (FCT) High Court.

​The defendants were docked before Justice A.H. Musa on a one-count charge centered on the alleged issuance of a dishonored N10 million cheque.

​According to court filings presented by the prosecution counsel, Mariya U. Shariff, the corporate entity and its director procured credit facilities to the tune of N10,000,000 from Ismail and Partners back in 2020. To offset the credit, Sarirddine issued a commercial bank cheque dated October 15, 2020. However, when the financial instrument was presented for clearance within the stipulated three-month window, it bounced due to a glaring lack of sufficient funds in the designated account.

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​The anti-graft agency noted that the offense directly violates Section 1(1)(b) of the Dishonoured Cheque (Offences) Act Cap. D11, Laws of the Federation of Nigeria 2004, and is punishable under Section 1(1)(i) and (ii) of the same legislation.

​Upon the charges being read, Sarirddine entered a plea of “not guilty” on behalf of himself and the corporate firm.

​Following the plea, the prosecution team requested a trial date and sought an order remanding the defendant to a correctional facility. Conversely, the defence counsel moved an oral application for bail, which met no opposition from the prosecution.

​In his ruling, Justice Musa admitted the defendant to bail in the sum of N5 million, alongside two sureties in like sum. The court stipulated that at least one surety must be a Level 10 civil servant, and both individuals are required to depose to an affidavit subject to thorough verification by the court registrar.

​The case has been adjourned for the commencement of trial.