THE Federal High Court in Lagos State on Wednesday granted businessman and socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest, N10m bail with two sureties in like sum after the celebrity barman pleaded not guilty to tampering and abusing the naira during his trial.
Recall that Cubana Chief Priest was arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice Kehinde Ogundare on three counts bordering on abuse of naira by allegedly spraying and tampering with the nation’s currency at a social event, which is contrary to the provisions of the Central Bank Act of 2007. He was alleged to have sprayed the naira on February 13, 2024, at Eko Hotel.
Cubana Chief Priest was said to have also committed the offences while dancing during a social event while tampering with funds in the denomination of N500 notes issued by the CBN by spraying the same for two hours.
The charge added that in January 2024 during a social event in Lagos Cubana tampered with funds in the denomination of N500 issued by the CBN by spraying same.
The offences committed, according to the Commission are contrary to and punishable under Section 21(1) of the Central Bank Act 2007. But the defendant pleaded not guilty to the charges against him.
Afterwards, his counsel, Mr Chikaosolu Ojukwu, SAN, prayed to the court to grant his client bail in the most liberal terms. Ojukwu had before the arraignment of the defendant, told the Court that he had a preliminary application challenging the jurisdiction of the court to try the defendant.
He further informed the court that the defence filed 25 paragraphs of bail application dated April 17, 2024, in support of the application. Ojukwu relied on section 163 of the Administration of Criminal Justice Act.
He said: “If your Lordship grants him bail and gives 14 days, in my honour, I will perfect his bail. He is sick and the EFCC brought him from the hospital this morning. He has palpitation of the heart if you look at his weight.
“It is not in every case that remand is necessary. He has over 1000 employees who are hungry even at this moment they are praying for my lord to grant him bail on liberal terms.”
Meanwhile, the prosecution did not oppose the bail application.
Justice Ogundare in a short ruling granted Cubana bail in the sum of N10 million with two sureties in like sum.
According to the judge, “One of the sureties must have landed property within the Court’s jurisdiction with title documents. The defendant must submit his international passport to the Court registrar. The bail must be perfected within seven days as taken by the SAN. Failure to perfect the bail conditions, the defendant would be remanded at the prison.”
The Court adjourned till May 2, 2024, for a hearing of the preliminary objection by the defence.
