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Nairaland Forum / Nairaland / General / Business / Facts About Dud Cheque (42223 Views)
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Facts About Dud Cheque by thirty(m): 7:27am On Dec 31, 2015 |
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. 47 Likes 10 Shares
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Re: Facts About Dud Cheque by brunofarad(m): 7:38am On Dec 31, 2015 |
Interesting 2 Likes 3 Shares |
Re: Facts About Dud Cheque by doskie(m): 4:07pm On Sep 26, 2016 |
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! 61 Likes 1 Share |
Re: Facts About Dud Cheque by Acme77: 6:28pm On Sep 26, 2016 |
Thank you. |
Re: Facts About Dud Cheque by nurez305(m): 11:49am On Oct 22, 2016 |
This is a valuable information to be on front page so that others can know about it as well Cc Seun Lalasticlacla 2 Likes 2 Shares |
Re: Facts About Dud Cheque by kingofthejungle(m): 12:35pm On Oct 22, 2016 |
call me with likes when it gets to front page 37 Likes |
Re: Facts About Dud Cheque by nurez305(m): 2:09pm On Nov 08, 2016 |
thirty: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? 8 Likes |
Re: Facts About Dud Cheque by eniolanimi: 6:46pm On Nov 30, 2017 |
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. 1 Like 1 Share |
Re: Facts About Dud Cheque by coolniyi99(m): 1:00am On Nov 28, 2019 |
thirty: 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 |
Re: Facts About Dud Cheque by NowisGod109(f): 2:13pm On Mar 08, 2020 |
coolniyi99: 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. 13 Likes |
Re: Facts About Dud Cheque by MrCover: 5:29am On Jun 03, 2022 |
Lalasticlala Mynd44 And Seun |
Re: Facts About Dud Cheque by MrCover: 5:30am On Jun 03, 2022 |
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Re: Facts About Dud Cheque by Lordbinsmar: 8:53am On Jun 04, 2022 |
Re: Facts About Dud Cheque by SegunBABA007(m): 8:53am On Jun 04, 2022 |
well said 1 Like |
Re: Facts About Dud Cheque by oluseyiforjesus(m): 8:53am On Jun 04, 2022 |
Ok |
Re: Facts About Dud Cheque by inoki247: 8:54am On Jun 04, 2022 |
Na 2015 post you people go resurrect... 14 Likes |
Re: Facts About Dud Cheque by ORAFA(m): 8:54am On Jun 04, 2022 |
Thank you for the info. 2015 to 2022 1 Like |
Re: Facts About Dud Cheque by dagnop: 8:55am On Jun 04, 2022 |
H |
Re: Facts About Dud Cheque by Karlovych: 8:55am On Jun 04, 2022 |
# Back to Iragbiji is the mantra On OBIdience 2023 we stand 2 Likes |
Re: Facts About Dud Cheque by Seniorwriter(m): 8:55am On Jun 04, 2022 |
SMH....reason I don't allow cheque payments. MansoryMX:Pinned. @Seniorwriter |
Re: Facts About Dud Cheque by Fedrick100: 8:55am On Jun 04, 2022 |
2015 trend on fp Don’t lose hope your time is coming 14 Likes 2 Shares |
Re: Facts About Dud Cheque by MansoryMX(m): 8:56am On Jun 04, 2022 |
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 14 Likes 1 Share
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Re: Facts About Dud Cheque by EggonBoy(m): 8:56am On Jun 04, 2022 |
TINUBU IS A CERTIFIED IMBEC.ILE 4 Likes 1 Share
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Re: Facts About Dud Cheque by Arysexy(m): 8:56am On Jun 04, 2022 |
2015 thread makes FP in 2022. Wonders shall never end. 8 Likes |
Re: Facts About Dud Cheque by Mannylex(m): 8:56am On Jun 04, 2022 |
doskie: ....And 6 years after, your wish came to pass. Comrade In this life, nothing is impossible. 14 Likes 1 Share |
Re: Facts About Dud Cheque by SecretReporter(f): 8:57am On Jun 04, 2022 |
U |
Re: Facts About Dud Cheque by AutoReportNG: 8:57am On Jun 04, 2022 |
Issusing of dud check is a big crime in Nigeria |
Re: Facts About Dud Cheque by akanbiaa(m): 8:57am On Jun 04, 2022 |
Hmmmm |
Re: Facts About Dud Cheque by meetgaya: 8:58am On Jun 04, 2022 |
If you are a staff of a bank and you issued a dude cheque and discovered so you stand dismissal 3 Likes |
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