Naira abuse: EFCC, Cubana Chief Priest to settle out of court

The Economic and Financial Crimes Commission (EFCC) and celebrity barman Pascal Okechukwu, widely known as Cubana Chief Priest, have agreed to settle the naira abuse charge outside of court.

The out-of-court settlement was revealed during the resumption of proceedings on Thursday.

Cubana Chief Priest appeared before Justice Kehinde Ogundare, facing three counts related to abusing the national currency at a social gathering, which violates the Central Bank Act of 2007.

He allegedly sprayed and tampered with naira notes during a social event at the Eko Hotel in Lagos.

He pleaded not guilty to the charges and was granted bail in the sum of N10m.

Justice Ogundare gave Okechukwu seven days to meet the bail conditions, warning that failure to do so within the stipulated time would lead to remand at the Nigeria Correctional Service. The judge then adjourned the case until May 2, 2024, for a preliminary objection hearing and trial.

During the Thursday session, Cubana Chief Priest’s counsel, Chikaosolu Ojukwu (SAN), informed the court of the parties' efforts to settle under Section 14(2) of the EFCC Act.

EFCC’s prosecution counsel, Mrs Bilikisu Buhari, confirmed ongoing discussions on settlement and noted that the application was under consideration.

During the arraignment, EFCC had stated that the defendant committed the alleged offence on February 13, 2024, by spraying naira at the Eko Hotel during a social event.

The commission also alleged that Cubana Chief Priest tampered with funds in N500 notes issued by the Central Bank of Nigeria during the event, which lasted for two hours.

The offence is said to be contrary to and punishable under Section 21(1) of the Central Bank Act 2007.

In a related incident, cross-dresser Idris Olanrewaju Okuneye, known as Bobrisky, was sentenced to six months imprisonment without the option of a fine in April for naira abuse.