The Nation Newspaper reports that the out-of-court settlement was disclosed when the proceedings resumed on Thursday.
Popular Nigerian socialite and businessman, Pascal Okechukwu, popularly known as Cubana Chief Priest and the Economic and Financial Crimes Commission are set to settle the naira abuse charge against him outside of court.
The Nation Newspaper reports that the out-of-court settlement was disclosed when the proceedings resumed on Thursday.
Cubana Chief Priest was arraigned before the Federal High Court in Lagos State over an allegation of naira abuse.
The court had granted Cubana Chief Priest bail at the sum of N10 million with two sureties in like sum after he pleaded not guilty to the allegation of tampering and abusing the naira during his trial.
SaharaReporters had reported that the socialite was arraigned before Justice Kehinde Ogundare on three counts bordering on abuse of naira for allegedly spraying and tampering with the nation’s currency at a social event contrary to the provisions of the Central Bank Act of 2007.
The Economic and Financial Crimes Commission (EFCC) accused Cubana Chief Priest of spraying naira notes on February 13, 2024, at the Eko Hotel while dancing during a social event.
He was said to have abused N500 notes issued by the Central Bank of Nigeria by spraying the same for two hours.
