Naira Abuse: Cubana Chief Priest secures N10 million bail

Businessman Cubana Chief Priest Granted Bail in Lagos

The Federal High Court in Lagos granted bail to businessman Pascal Okechukwu, known as Cubana Chief Priest, on Wednesday. He faces allegations of naira abuse, and the court set his bail at N10 million with specific conditions attached.

Defense Arguments and Court’s Decision

At the hearing, Bilikisu Buhari represented the prosecution, while Mr. Chikaosolu Ojukwu (SAN) represented the defendant. In response to the charges, the defense filed a preliminary objection challenging the court’s jurisdiction and requested bail for Okechukwu. Notably, the prosecution did not oppose the request.

Okechukwu pleaded not guilty to the charges against him. His defense counsel requested bail on lenient terms due to Okechukwu’s health issues, which include a weight-related condition that causes palpitation. Furthermore, the defense highlighted Okechukwu’s lack of a criminal record and status as a first-time offender.

Okechukwu’s Employment of Over 1,000 People

The defense emphasized Okechukwu’s significant role as an employer of over 1,000 people. The jobs of his employees depend on his continued operation. Therefore, the counsel argued that granting Okechukwu bail would allow him to keep supporting his workforce.

Bail Conditions and Upcoming Hearing

Justice Kehinde Ogundare granted Okechukwu bail at N10 million. He must provide two sureties, who both must be civil servants of level 16. Additionally, one surety must own property within the court’s jurisdiction. Okechukwu must submit his passport to the court’s registry and fulfill the bail conditions within seven days.

Should Okechukwu fail to meet these conditions, he may be sent to the Nigerian correctional service. The defense counsel must ensure that Okechukwu fulfills the conditions on time.

The court adjourned the case until May 2 for the hearing of the preliminary objection.

Charges and Recent Similar Conviction

Okechukwu faces charges of tampering with N500 bills while dancing at a social event at Eko Hotel, which violates section 21(1) of the Central Bank Act of 2007.

Recently, the Economic and Financial Crimes Commission (EFCC) secured the conviction of Idris Okuneye, known as Bobrisky, on similar charges. Okuneye received a six-month jail sentence.