Businessman and socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, has been granted bail in the sum of N10 million by the Federal High Court in Lagos State. The bail comes with two sureties who must also provide the same amount.
Cubana Chief Priest, who earlier pleaded not guilty to charges of tampering and abusing the Nigerian currency, secured the bail during his trial.
Arraigned before Justice Kehinde Ogundare on three counts related to the abuse of the naira, Cubana Chief Priest allegedly sprayed and tampered with the nation’s currency at a social event, contrary to the provisions of the Central Bank Act of 2007.
The incident in question occurred on February 13, 2024, at Eko Hotel, where Cubana Chief Priest, while dancing during the social event, was said to have sprayed funds in the denomination of N500 notes issued by the Central Bank of Nigeria (CBN) for a duration of two hours.
The court emphasized that such actions violate the legal framework governing the handling and use of the national currency. Cubana Chief Priest’s trial underscores the legal repercussions associated with the misuse of the Nigerian currency, reflecting the judiciary’s commitment to upholding financial regulations and accountability.