Justice Kehinde Ogundare of the Federal High Court in Lagos on Wednesday granted bail to businessman and socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest, over an allegation of abusing the Naira.
Justice Ogundare admitted him to bail after he pleaded not guilty to a three-count charge of allegedly spraying and tampering with the Naira at a social event contrary to the provisions of the Central Bank Act of 2007 brought against him by the Economic and Financial Crimes Commission (EFCC).
The judge ordered him to produce two sureties in like sum who must be gainfully employed with the Federal or State Government and not below grade level 16.
The court also directed that the sureties must have landed property within its jurisdiction, and the prosecution and the court must verify the document.
The defendant must also submit his international passport to the court’s custody.
Although the judge released the defendant to his lawyer pending the perfection of the bail terms, he gave him seven days to do so; failing that, he would be remanded in a correctional facility.
The EFCC prosecutor, Mrs Bilikisu Buhari, told the court that the defendant committed the alleged offence on February 13, 2024, at Eko Hotel during a social event.
Buhari also told the court that the defendant, while dancing during a social event in 2020, tampered with funds in the denomination of N500 notes issued by the Central Bank of Nigeria by spraying the same for two hours.
She also said that in January 2024, in Lagos State, during a social event, the defendant tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying the same.
The prosecutor maintained that the offence committed is contrary to and punishable under Section 21(1) of the Central Bank Act 2007.
While moving the bail application, the defence counsel, Chikaosolu Ojukwu (SAN), urged the court to grant his client bail on liberal terms.
Ojukwu told the court that the defendant was admitted to bail by the anti-graft agency based on his health condition, adding that due to his weight, the defendant suffers palpitation.
The lawyer also argued that the offence with which the defendant is charged is a misdemeanour and that the prescribed punishment ranges from a fine of N50,000 to an imprisonment term of six months.
He further informed the court that the defendant is a first offender with no past criminal records, and is an employer of labour with over 1,000 employees on his payroll.
The prosecutor did not oppose the application and Justice Ogundare adjourned the matter to May 2 for trial.
