Vincent Timothy, a businessman from Kaduna, has been remanded in prison custody by Justice Darius Khobo of the Kaduna State High Court over allegations of issuing dud cheques worth N20 million. The Economic and Financial Crime Commission is prosecuting Timothy, who pleaded not guilty to the charge. The court ordered his remand pending a ruling on his bail application, with the case adjourned to May 12. EFCC counsel E. K. Garba told the court that Timothy obtained a N20 million loan from Aires Financial Services Limited in January, with a promise to repay at a later date. According to Garba, Timothy later issued five cheques, each valued at N4 million, all of which bounced due to insufficient funds in his account. Defence lawyer A. M. Sunday informed the court that Timothy had voluntarily reported to the EFCC on April 3 after being invited. He urged the court to grant bail, citing his client's cooperation.
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