The Economic and Financial Crimes Commission (EFCC) arraigned businessman Pascal Okechukwu, also known as Cubana Chief Priest, with abuse of the Naira currency at a Federal High Court in Lagos on Wednesday.
He was arraigned 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, contrary to the provisions of the Central Bank Act of 2007.
Mrs Bilikisu Buhari represented the prosecution in the case on Wednesday, while Mr Chikaosolu Ojukwu (SAN) announced appearance for the defendant.
The defence counsel then told the court of a preliminary objection to the court’s jurisdiction, as well as a bail application filed on the defendant’s behalf.
He informed the court that the prosecution did not object to same.
After hearing the charge, the defendant pleaded not guilty to it.
In advancing the defendant’s bail motion, counsel urged the court to grant him bail on liberal terms.
He told the court that the defendant was admitted by the prosecution following his health condition, adding that due to his weight, the defendant suffers palpitation
Furthermore, he informed the court that the defendant is charged with a misdemeanour for which the punishment varies from a fine of N50,000 to a six-month prison sentence.
He urged the court to grant the defendant bail on very lenient terms because he is a first-time offender with no previous criminal record.
Counsel also informed the court that the defendant is a labour employer, with over 1000 employees on his payroll who rely on their jobs.
He, as a result, requested the court to grant his application as proposed.
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In response, the prosecutor stated that she will leave the issue of bail to the discretion of the court.
“The court granted the defendant N10 million bail, with two sureties in the same amount. The sureties must own landed property within the jurisdiction. The prosecution must verify the documents with the Deputy Chief Registrar of the Court.
As part of the bail conditions, Cubana Chief Priest must surrender his travel passport to the custody of the court.
Additionally, one of the sureties must be a level 16 officer in either the corporate or governmental sector. The bail requirements must be completed within seven days or it will be revoked.”
He was released to his attorney pending the completion of his bail term.
