Abiodun Adisa, the Managing Director of Picket Suites and Services Limited, who issued N130 million dud cheques to one Okechukwu Enelamah, will spend the New Year in jail.
It was not clear whether the case was referring to the Minister of Trade and Industry, who bears the same name.
The MD was sent to jail by a Federal High Court in Lagos after he was docked by the Special Fraud Unit of the Nigeria Police Force.
The SFU alleged that Adisa issued 15 Guaranty Trust Bank cheques to Enelamah, who has connection with Fredliz Estates Limited, in settlement of his indebtedness to the company.
The cheques were issued between August 22, 2016 and June 30, 2017.
All were dishonoured for lack of funds.
The SFU said the offences violated section 1(a)(i) of the Dishonoured Cheques (offences) Act Cap. D11, Laws of the Federation of Nigeria, 2004.
Adisa pleaded not guilty to the charge.
His lawyer, Adewale Olawoyin, a Senior Advocate of Nigeria (SAN), pleaded with the court to grant his client bail in liberal terms, pending the trial.
Olawoyin particularly informed the court to discountenance the allegation made by the prosecution that his client will not come to court if granted bail, saying that even when the accused was granted administrative bail, he travelled to America for medical treatment and he willingly reported back to the police on his arrival.
He, therefore, urged the court to grant his client’s bail application.
The prosecutor, Slevester Azubike, objected to the bail.
He told the court that police had filed a 15 paragraph counter-affidavit against the bail application, doubting the nature of the accused sickness and the medical report presented, having not emanated from any government hospital.
After listening to the submissions of both parties, Justice Hadiza Rabiu-Shagari ordered that the accused be remanded in prison custody until January 3, 2018 for ruling on the bail application.