Naira abuse: Cubana Chief Priest gets N10 million bail
JUSTICE Kolawole Ogundare of the Federal High Court sitting in Lagos, yesterday, granted a businessman and socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest, N10 million bail with two sureties in like sum. The judge released him to his lawyer pending perfection of his bail terms.
Cubana Chief Priest was admitted to bail following his not guilty plea to a threecount charge brought against him by the Economic and Financial Crimes Commission ( EFCC).
The charge borders on alleged tampering and abuse of the Naira at a social event on February 13, at Eko Hotel in Lagos.
His offence is contrary to and punishable under Section 21( 1) of the Central Bank Act 2007.
At the proceeding, the prosecuting counsel, Mrs Bilikisu Buhari informed the court that the commission filed an information dated April 4 and prayed the court to allow the defendant to take his plea. In his submission, the defendant’s counsel, Mr Chikaosolu Ojukwu ( SAN) told the court that he has filed two applications before the court, the first is a preliminary objection, challenging the court’s jurisdiction as well as a bail application.
He added that the prosecution is not opposing the bail application.
Ojukwu prayed the court to grant his client bail in the most liberal terms.
He told the court that the defence has served the two applications on the prosecution. He urged the court to allow him argue his application challenging the court's jurisdiction to hear the suit. Citing section 396 of the Administration of Criminal Justice Act ( ACJA), he argued that the offence for which his client was charged is a misdemeanor, which carried a maximum of six months imprisonment or N50, 000 fine or both.
He urged the court to exercise discretion in favour of the defendant, noting that the defendant has over 1,000 employees who are dependent on his small business.