Have you experienced this embarrassing situation before where you confidently walk into a bank to cash a cheque only to be told by the cashier that there is no money in the account? This has happened to a lot of people and that type of cheque is known as a dud cheque.

A dud cheque is a worthless cheque that cannot be paid because the person who issued the cheque does not have sufficient money or has no money at all in his bank account...

Once you receive a dud cheque, make sure that the bank makes the proper entries in its register and also on the returned cheque so that you can use it as evidence, if need be.

It is a criminal offence to issue a dud cheque; an individual who is found guilty of this will be sentenced to 2 years imprisonment while a corporate body will be fined a minimum of N5 million. Anybody who issues a dud cheque can be prosecuted and sent to prison. It is a financial crime that is handled by the Economic and Financial Crimes Commission (EFCC).

There is no statute of limitation for criminal offences and since issuance of dud cheques is a criminal offence, there is no statute of limitation to bring an action against the person.

Issuance of dud cheques is an act of fraud that breeds lack of trust among business partners and affects smooth business relations. It should be discouraged as much as possible.

Lots of people go ahead to issue cheques even when they know that they do not have sufficient money in their accounts. Unfortunately, people who receive dud cheques are not aware that the issuer of the cheque can be prosecuted so they do nothing about it.

In some other cases, people issue dud cheques unintentionally because they are probably expecting some money in their account or they have been debited for a transaction they were not prepared for. That is why it is encouraged that investigations are carried out to know the exact reason behind the worthless cheque.

If you have been issued a dud cheque, you have basically two options. You can choose to report the matter to EFCC so that they can institute criminal proceedings in court against the person. Some people are however not interested in dragging the person to court because of the stress and time that will be spent; they would rather just get their money and be done with it.

You also have a second option of amicable settlement or mediation between yourself and the person who issued the dud cheque to resolve the matter. You can bring a civil action against the person who issued the cheque so that you can get full value of the cheque.

It is advisable to get a lawyer who will provide suitable advice on the best line of action to take but it is important to act quickly.

Interesting

This material is worthy of front page. But no! You rather see topics on cossys booobs, snake killed front of office, flavours baby mama posing with daughter, i mean i mean i mean i just don't understand!

Thank you.

This is a valuable information to be on front page so that others can know about it as well

Cc
Seun
Lalasticlacla

call me with likes when it gets to front page

thirty:
Have you experienced this embarrassing situation before where you confidently walk into a bank to cash a cheque only to be told by the cashier that there is no money in the account? This has happened to a lot of people and that type of cheque is known as a dud cheque.

A dud cheque is a worthless cheque that cannot be paid because the person who issued the cheque does not have sufficient money or has no money at all in his bank account...

Once you receive a dud cheque, make sure that the bank makes the proper entries in its register and also on the returned cheque so that you can use it as evidence, if need be.

It is a criminal offence to issue a dud cheque; an individual who is found guilty of this will be sentenced to 2 years imprisonment while a corporate body will be fined a minimum of N5 million. Anybody who issues a dud cheque can be prosecuted and sent to prison. It is a financial crime that is handled by the Economic and Financial Crimes Commission (EFCC).

There is no statute of limitation for criminal offences and since issuance of dud cheques is a criminal offence, there is no statute of limitation to bring an action against the person.

Issuance of dud cheques is an act of fraud that breeds lack of trust among business partners and affects smooth business relations. It should be discouraged as much as possible.

Lots of people go ahead to issue cheques even when they know that they do not have sufficient money in their accounts. Unfortunately, people who receive dud cheques are not aware that the issuer of the cheque can be prosecuted so they do nothing about it.

In some other cases, people issue dud cheques unintentionally because they are probably expecting some money in their account or they have been debited for a transaction they were not prepared for. That is why it is encouraged that investigations are carried out to know the exact reason behind the worthless cheque.

If you have been issued a dud cheque, you have basically two options. You can choose to report the matter to EFCC so that they can institute criminal proceedings in court against the person. Some people are however not interested in dragging the person to court because of the stress and time that will be spent; they would rather just get their money and be done with it.

You also have a second option of amicable settlement or mediation between yourself and the person who issued the dud cheque to resolve the matter. You can bring a civil action against the person who issued the cheque so that you can get full value of the cheque.

It is advisable to get a lawyer who will provide suitable advice on the best line of action to take but it is important to act quickly.

thank you for the information... please can I report a dud cheque of 100k to efcc, if yes, will it cost me money to do that?

In my own case i did not give a dud cheque a friend seek for my assistance at microfinance to be a guarantor who promised to pay and never pay in five places she was even deceiving me and like she told me one of the pre-condition to the loan is pre-signed cheques which i gave her with all mind i did it in good faith and am now the banks are presenting my cheques and one of them has taken the matter to the police station.

I am from inu oke that we believe it is good to give a helping hand, I do not know anybody can collect and refuse to pay

Please you can help me.

thirty:
Have you experienced this embarrassing situation before where you confidently walk into a bank to cash a cheque only to be told by the cashier that there is no money in the account? This has happened to a lot of people and that type of cheque is known as a dud cheque.

A dud cheque is a worthless cheque that cannot be paid because the person who issued the cheque does not have sufficient money or has no money at all in his bank account...

Once you receive a dud cheque, make sure that the bank makes the proper entries in its register and also on the returned cheque so that you can use it as evidence, if need be.

It is a criminal offence to issue a dud cheque; an individual who is found guilty of this will be sentenced to 2 years imprisonment while a corporate body will be fined a minimum of N5 million. Anybody who issues a dud cheque can be prosecuted and sent to prison. It is a financial crime that is handled by the Economic and Financial Crimes Commission (EFCC).

There is no statute of limitation for criminal offences and since issuance of dud cheques is a criminal offence, there is no statute of limitation to bring an action against the person.

Issuance of dud cheques is an act of fraud that breeds lack of trust among business partners and affects smooth business relations. It should be discouraged as much as possible.

Lots of people go ahead to issue cheques even when they know that they do not have sufficient money in their accounts. Unfortunately, people who receive dud cheques are not aware that the issuer of the cheque can be prosecuted so they do nothing about it.

In some other cases, people issue dud cheques unintentionally because they are probably expecting some money in their account or they have been debited for a transaction they were not prepared for. That is why it is encouraged that investigations are carried out to know the exact reason behind the worthless cheque.

If you have been issued a dud cheque, you have basically two options. You can choose to report the matter to EFCC so that they can institute criminal proceedings in court against the person. Some people are however not interested in dragging the person to court because of the stress and time that will be spent; they would rather just get their money and be done with it.

You also have a second option of amicable settlement or mediation between yourself and the person who issued the dud cheque to resolve the matter. You can bring a civil action against the person who issued the cheque so that you can get full value of the cheque.

It is advisable to get a lawyer who will provide suitable advice on the best line of action to take but it is important to act quickly.

What can one do when you've instructed the bearer of the cheque not to use it, because there is no money in the account.. But the bearer still stubbornly uses it. So as to put one in trouble

coolniyi99:



What can one do when you've instructed the bearer of the cheque not to use it, because there is no money in the account.. But the bearer still stubbornly uses it. So as to put one in trouble

Absolutely nothing, you're the issuer except you just dashed the person the money but if it's for business, it shows you're a criminal.

Lalasticlala Mynd44 And Seun

MrCover Has Learnt So Many Things From This Piece Of Article

If You Are Selling Airtel Bulk Airtime Or Any Bulk Airtime, Get In Touch With MR COVER On WhatsApp Chat With 0810-373-9506 Now.

Mr Cover, Is Ready To Buy Bulk Airtime Now

well said

Ok

Na 2015 post you people go resurrect...

Thank you for the info. 2015 to 2022

H

# Back to Iragbiji is the mantra

On OBIdience 2023 we stand

SMH....reason I don't allow cheque payments.

MansoryMX:
Since 2016! Na person create this thread. The Op fit don even die self. Chai! Nairaland mods eh! Mod don go mix Burukutu with Dogoyaro drink this kind morning

Pinned.

@Seniorwriter

2015 trend on fp
Don’t lose hope your time is coming

TINUBU IS A CERTIFIED IMBEC.ILE

2015 thread makes FP in 2022. Wonders shall never end.

doskie:
This material is worthy of front page. But no! You rather see topics on cossys booobs, snake killed front of office, flavours baby mama posing with daughter, i mean i mean i mean i just don't understand!

....And 6 years after, your wish came to pass.

Comrade In this life, nothing is impossible.

U

Issusing of dud check is a big crime in Nigeria

Hmmmm

If you are a staff of a bank and you issued a dude cheque and discovered so you stand dismissal