The Economic and Financial Crimes Commission (EFCC) and Pascal Okechukwu, famously known as Cubana Chief Priest, have come to terms to settle the naira abuse charge outside the court, as disclosed during the recent proceedings on Thursday.
Cubana Chief Priest, appearing before Justice Kehinde Ogundare, faced three counts related to abusing the national currency at a social gathering, a violation of the Central Bank Act of 2007. Allegations pointed to his actions of spraying and tampering with naira notes during an event at the Eko Hotel in Lagos.
Pleading not guilty to the charges, Cubana Chief Priest was granted bail in the sum of N10 million. However, Justice Ogundare stressed that failure to meet the bail conditions within seven days would result in remand at the Nigeria Correctional Service.
The case is adjourned until May 2, 2024, for further proceedings. During the recent session, Cubana Chief Priest’s counsel, Chikaosolu Ojukwu (SAN), informed the court of the parties’ exploration of settlement under the EFCC Act.
Confirming the discussions, EFCC’s prosecution counsel, Mrs. Bilikisu Buhari, stated that the application for settlement is under consideration. The commission previously alleged that Cubana Chief Priest committed the offence on February 13, 2024, by spraying naira at the Eko Hotel during a social event, contravening Section 21(1) of the Central Bank Act 2007.