Cubana Chief Priest Granted N10m Bail for Naira Abuse

Businessman and socialite Pascal Okechukwu, widely known as Cubana Chief Priest, was granted a N10 million bail with two sureties in like sum by the Federal High Court. This decision comes after Cubana Chief Priest pleaded not guilty to charges of tampering with and abusing the naira during a high-profile event. 

His case, presided over by Justice Kehinde Ogundare, has garnered significant attention, highlighting the ongoing efforts to uphold the sanctity of the nation’s currency.

The charges against Cubana Chief Priest

Cubana Chief Priest faced the court on allegations of spraying and tampering with Naira notes during a social gathering at the Eko Hotel in Lagos. Represented by his counsel, Mr. Chikaosolu Ojukwu, SAN, the celebrity bar man challenged the court’s jurisdiction over his case and simultaneously sought bail on liberal terms. 

Notably, his plea was not opposed by the prosecution, led by Mrs. Bilikisu Buhari, indicating a cooperative stance in the proceedings.

The court’s decision

Upon considering the bail application, Justice Ogundare set the bail amount at N10 million with two sureties, reflecting the severity of the charges yet acknowledging Cubana Chief Priest’s lack of prior criminal history. 

During the bail hearing, his lawyer emphasized his client’s significant role as an employer who sustains over a thousand jobs, his health concerns due to his weight, and the classification of the offence as a misdemeanor with a maximum penalty of a N50,000 fine or six-month imprisonment.

What this means

This case falls under the stringent measures enforced by the Central Bank of Nigeria to protect the dignity of the national currency, as outlined in the Central Bank Act of 2007. Cubana Chief Priest’s alleged act of spraying naira notes contravenes these regulations, which are designed to prevent the misuse and defacement of currency. 

The Economic and Financial Crimes Commission (EFCC), by taking action against high-profile figures like Cubana Chief Priest, signals a stern warning against the casual disregard for legal standards concerning currency handling.