The Economic and Financial Crimes Commission (EFCC) and celebrity barman Pascal Okechukwu, also known as Cubana Chief Priest, have agreed to resolve the naira abuse accusation outside of court.
The out-of-court settlement was announced when the hearings resumed on Thursday.
The Cubana Chief Priest appeared before Justice Kehinde Ogundare on three counts of misusing the national currency at a social event.
These actions contradict the Central Bank Act of 2007.
He is accused of spraying and tampering with naira notes during a social function at Lagos’ Eko Hotel.
He pleaded not guilty to the accusations against him and was given N10 million in bail.
Justice Ogundare granted Okechukwu seven days to complete the bail terms, stating that if he did not do so within that time, he would be remanded to the Nigeria Correctional Service.
The judge then deferred the case until May 2, 2024, to hear the preliminary objection and trial.
When the case was called on Thursday, Cubana Chief Priest’s counsel, Chikaosolu Ojukwu (SAN), informed the court that the parties are exploring settlement options and have requested that the matter be settled under Section 14(2) of the EFCC Act.
Mrs. Bilikisu Buhari, the EFCC’s prosecution counsel, said that the parties were negotiating a settlement and that the application was still being reviewed.
During arraignment, the EFCC informed the court that the defendant committed the alleged offence on February 13, 2024, by spraying Naira at the Eko Hotel while dancing at a social event.
The commission further informed the court that while dancing at a social occasion, the Cubana Chief Priest tampered with cash in the denomination of N500 notes issued by the Central Bank of Nigeria by spraying them for two hours.
According to the anti-graft office, the crime committed violates and is punished under Section 21(1) of the Central Bank Act 2007.
In a separate occurrence, cross-dresser Idris Olanrewaju Okuneye, also known as Bobrisky, was sentenced to six months in prison in April without the option of a fee for naira abuse.
