The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Henry Bolaji, who allegedly issued a dud cheque for N2.1 million.

The News Agency of Nigeria (NAN) reports that Bolaji,37, appeared before Justice Adeniyi Onigbanjo of an Ikeja High Court on a count charge.

The defendant, who resides in Ibadan, was charged alongside his company, Grace Integrated Solutions Ltd.

EFCC counsel, Mr Mohammed Bawa, alleged that Bolaji issued a dud First bank cheque to the House of Gold Electronics Ltd. on Sept. 20, 2010, at Ojo, Lagos.

Bawa said that the cheque was to partly pay for goods supplied to the defendant by the company.

He said that the cheque with the No. HC65373616 was dishonoured due to insufficient funds in Bolaji's account.

According to the prosecutor, the offence contravened Section 1(1) (a) of the Dishonoured Cheques Offences Act, 2004.

Bolaji, however, pleaded not guilty, and was granted bail in the sum of N250,000, with one surety in like sum.

The judge directed that the surety must be a blood relation of the defendant, and must be resident in Lagos State.

He held that the surety must produce evidence of three years' tax payment to the state government.

The judge also ordered Bolaji to deposit his international passport and other travelling documents with the EFCC, adding that they must not be released without the court's permission.

The case has been adjourned to June 19 for substantive trial.