Naira abuse: Cubana Chief Priest forfeits N10m to FG in out-of-court settlement

Businessman and celebrity bartender, Pscal Okechukwu, better known as Cubana Chief Priest, has reached a N10million out-of-court settlement with the Economic and Financial Crimes Commission (EFCC), over the alleged abuse of the Naira notes.

The abuse of Naira notes in a video footage had brought the celebrity before the court and  was arraigned by the EFCC on a three-count charge of allegedly spraying and tampering with the Naira notes at a social event, contrary to the provisions of the Central Bank Act of 2007.

While delivering the judgement on the matter, Justice Kehinde Ogundare ordered Cubana Chief Priest to forfeit the sum to the federal government as a fine, which came after the celebrity and the anti-graft agency reached a an agreement to settle the case out of court.

Earlier during the proceedings, EFCC counsel, Bilkisu Buhari-Bala, had informed the court that the parties in the case entered into the out-of-court settlement, which both parties duly signed.

The defence lawyer, Chikaosolu Ojukwu (SAN), confirmed the development and commended the EFCC for facilitating the resolution of the matter.

In a bench ruling, Justice Ogundare adopted the terms of the settlement and consequently struck out the charge.

The terms of the settlement agreement under Section 14 (2) of the EFCC Establishment Act, 2004, read: “The agreement applies only to the findings relating to contraventions of the law contained in the pending charge preferred against the defendant.

“The defendant shall enter into a bond with the EFCC to be of good behaviour and never indulge in any Economic and Financial Crime or related offences.

“The Defendant shall engage in rigorous and intensive sensitisation and campaign against the abuse of coins and notes issued under the CBN Act as legal tender.

“The defendant shall bi-monthly post on his various social media handles at least two video clips of his sensitisation/campaign against abuse of naira and sundry offences.

“The Defendant shall pay to the consolidated revenue fund of the Federation such sum not below the sum of Ten million naira (N10,000,000:00) only upon the execution of the agreement.”

During his arraignment, Cubana Chief Priest had pleaded “not guilty” to the charge.