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Naira Abuse: Import of Court Judgment on Cubana Chief Priest
Consequent on the judgment of Justice Kehinde Ogundare of the Federal High Court sitting in Lagos on the terms of settlement of the three-count charges bordering on abuse of Naira notes preferred against Okechukwu Pascal (alias Cubana Chief Priest) by the Economic and Financial Crimes Commission, EFCC, it is needful to emphasise that the Commission acted in line with Section 14(2) of its Establishment Act, 2004.
This Section of the EFCC’s Establishment Act empowers the Commission to compound any offence, subject to provisions of Section 174 of the 1999 Constitution of the Federal Republic of Nigeria by “accepting such sum of money as it deems fit exceeding the maximum amount by which the offender would have been liable if he had been convicted".
To this end, the N10,000,000 (Ten Million Naira) the court fined Cubana Chief Priest far exceeded the N50,000( Fifty Thousand Naira) his offence carries. This is in response to the application made to the EFCC by counsel to the defendant, Chikaosolu Ojukwu, SAN, seeking the compounding of the offences under Section 14(2) of the EFCC Act.
Additionally, Cubana Chief Priest would henceforth lead rigorous and intensive sensitization or campaign against abuse of coins and notes issued under the Central Bank of Nigeria, CBN Act.
The court also ruled that, “the defendant shall bi-monthly post on his various social media handles a minimum of two video clips of his sensitization/ campaign against abuse of naira and sundry offences”. All of these are strict deterrence meant to separate Cubana Chief Priest from future desecration of the Naira.
The Special Task Force against Naira Abuse and Dollarisation of the economy is still in place. The Commission remains undeterred in the pursuit of its lawful mandate and the court’s ruling on Cubana Chief Priest should stimulate enhanced commitment of Nigerians to defend the sanctity of the Naira and refrain from any infraction against the nation’s legal tender.
Naira abuse: Cubana Chief Priest forfeits N10m, as court strikes out charge
Justice Kehinde Ogundare of the Federal High Court sitting in Lagos Tuesday, June 25, 2024, struck out the charge of naira abuse filed against celebrity bartender, Pascal Okechukwu, popularly known as Cubana Chief Priest, by the Economic and Financial Crimes Commission (EFCC).
The judge also directed Okechukwu to forfeit the sum of N10million to the Federal Government as part of an out-of-court deal the defendant agreed with the EFCC in lieu of the charge.
This was contained in the terms of settlement agreement with the Economic and Financial Crimes Commission (EFCC) which was adopted before the trial judge, Justice Kehinde Ogundare on Tuesday.
At the proceedings, Counsel for the EFCC, Bilkisu Buhari-Bala, informed the court that parties in the charge entered into the out of-court settlement and same was duly signed by both parties.
The defendant’s counsel, Senior Advocate of Nigeria, Chikaosolu Ojukwu commended the reasonable action of the anti-graft agency in having the matter resolved. He said the defendant is equally remorseful and promises to turn over a new leaf going forward.
Ojukwu also said that the consequences of the settlement is for the court to dismiss the charge.
Justice Ogundare in his short ruling adopted the terms of settlement and consequently struck out the charge.
The terms of settlement agreement pursuant to Section 14 (2) of the EFCC Establishment Act, 2004, read:
“The agreement applies only to the findings relating to contraventions of the law contained tn the pending charge preferred against the defendant.
“The defendant entered 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/or 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 a minimum of two video clips of his sensitisation/campaign against abuse of naira and sundry offences.
“The Defendant shall pay to the consolidated revenue fund of Federation such sum not below the sum of Ten million naira (N10,000,000:00) only upon the execution of this agreement.”
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