Socialite Pascal Okechukwu, also known as Cubana chief priest and the Economic and Financial Crimes Commission (EFCC) have entered into an out-of-court settlement over the alleged abuse of the naira charge brought against him by the commission.
As part of the settlement, Justice Kehinde Ogundare of the Federal High Court in Lagos ordered the celebrity bartender and businessman to forfeit N10 million to the federal government as a fine instead of the charge.
Justice Ogundare gave the order after the defendant and the anti-graft agency adopted the settlement agreement terms.
Earlier during the proceedings, the EFCC counsel, Bilkisu Buhari-Bala, had informed the court that the parties in the charge entered into the out-of-court settlement, which both parties duly signed.
The defence lawyer, Chikaosolu Ojukwu (SAN), confirmed the development and commended the EFCC for facilitating the resolution of the matter.
Ojukwu claimed that his client, who is now remorseful, promises to turn a good leaf in the future and that the consequence of the settlement is for the charge to be dismissed.
Justice Ogundare, in a bench ruling, adopted the terms of settlement and consequently struck out the charge.
The terms of the settlement agreement under Section 14 (2) of the EFCC Establishment Act, 2004, read:
“The agreement applies only to the findings relating to contraventions of the law contained in the pending charge preferred against the defendant.
“The defendant shall enter into a bond with the EFCC to be of good behaviour and never indulge in any Economic and Financial Crime or related offences.
“The Defendant shall engage in rigorous and intensive sensitisation and campaign against the abuse of coins and notes issued under the CBN Act as legal tender.
“The defendant shall bi-monthly post on his various social media handles at least two video clips of his sensitisation/campaign against abuse of naira and sundry offences.
“The defendant shall pay to the consolidated revenue fund of the Federation such sum not below the sum of N10 million upon the execution of the agreement.”
The EFCC arraigned Cubana chief priest before the court on a three-count charge of allegedly spraying and tampering with the Naira at a social event contrary to the Central Bank Act of 2007 provisions.
Buhari-Bala had told the court that the defendant committed the alleged offence on February 13, 2024, at Eko Hotel while dancing during a social event.
She also told the court that the defendant tampered with funds in the denomination of N500 notes issued by the Central Bank of Nigeria by spraying them for two hours.
The lawyer further claimed that sometime in 2020, during a social event in LIsos, the defendant tampered with funds in the denomination of N500 issued by the Central Bank of Nigeria, spraying the same for two hours.
She also alleged that in January 2024, in Lagos State, during a social event, the defendant tampered with funds in the denomination of N500 issued by the Central Bank of Nigeria by spraying the same.
The prosecutor maintained that the offence is contrary to and punishable under Section 21(1) of the Central Bank Act 2007.
The defendant, however, pleaded not guilty to the charge.