what are the legal implications of issuing a dud cheque in Nigeria and how to go about it to seek redress
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PEOPLE who issue dud cheques could soon get the chance to repay the money before being taken to court.
The Shura Council members yesterday approved an amendment to the Penal Code after last week's session ended in stalemate of mortgage.
Discussions were also suspended two weeks ago, as councillors were divided over whether it should be passed.
A group of councillors were against the amendments earlier this month, saying that it would help people with insufficient banks accounts to issue cheques and then repay the amount after several months or in installments after they are caught.
They believe that the lenders or service providers were at the losing end, considering those issuing the dud cheques already know that they can't get the money on time.
Councillors said that this would lead to huge losses and even bankruptcy in some cases to the lender or service provider.
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