Nigerian socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, has reached an agreement with the Economic and Financial Crimes Commission (EFCC) to settle the naira abuse charge outside of court.
News About Nigeria reports that on Thursday, when the proceedings resumed, it was disclosed that Cubana Chief Priest and the EFCC had reached an out-of-court settlement.
He 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.
Recall that on Wednesday, April 17, the Federal High Court in Lagos State granted Cubana Chief Priest N10 million bail with two sureties in like sum.
He was arraigned on three counts bordering on abuse of naira, spraying, and tampering with the nation’s currency at a social event, contrary to the provisions of the Central Bank Act of 2007.
The socialite was alleged to have sprayed the naira on February 13, 2024, at the Eko Hotel.
After pleading not guilty, the court granted him bail of N10 million with two responsible sureties in like sum who must be gainfully employed with the federal or state government and not less than grade level 16.
The sureties were required to have landed property, and the document must be verified by the court.
Cubana Chief Priest was also asked to submit his travel passport to the custody of the court. He fulfilled the bail conditions and was released.
Another widely-known figure, Idris Olanrewaju Okuneye, popularly known as Bobrisky, was recently sentenced to six months in prison without the option of a fine after he pleaded guilty to a four-count charge of abuse of the naira.
The judge, Justice Awogboro, had held that the punishment would serve as a deterrent to others who abuse and mutilate the naira notes.
Bobrisky admitted to misuse of the naira but asked for mercy. According to him, he was unaware that it was against the law.
However, the judge reminded him that not knowing the law doesn’t excuse breaking it.
Bobrisky requested a second chance to educate his followers against spraying the naira.
He said, “My Lord, I wish that you could give me a second chance to use my platform to inform and educate my followers about spraying money.”
