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 three-count 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.

Ojukwu also prayed the court to release the defendant to him, adding that he has not flouted the administrative bail given to him by the commission.

”The defendant is not well. I would take him in my honour and perfect his bail conditions in 14 days my lord,” the counsel pleaded.

After listening to the counsel’s submission, Justice Ogundare admitted the defendant to bail in the sum of N10 million with two sureties in like sum.

The judge ordered that the sureties must be a civil servant not below grade level 16 in Federal or Lagos State government service.

The judge further ordered that the surety must be gainfully employed and have property within the jurisdiction of the court and that the title documents of the properties must be verified by the deputy registrar of the court.

He, therefore, hand over the defendant to his lawyer, ordered that the bail conditions must be fulfilled within seven days as failure of which the bail will be revoked

Justice Ogundare adjourned the trial to May 2, for the hearing of pending applications bordering on jurisdiction.