From John Katch, Lagos

Justice Kehinde Ogundare of the Federal High Court in Lagos has granted businessman and socialite, Pascal Okechukwu, also known as Cubana Chief Priest, N10 million bail with two sureties in like sum.

This was consequent upon his plea of not guilty to the charge of tampering and abusing the naira during his trial.

He was charged with abuse of naira by allegedly spraying and tampering with the naira at a social event, contrary to the provisions of the Central Bank Act of 2007.

He was alleged to have sprayed the naira on February 13, 2024 at Eko Hotel.

The trial Judge granted in granting him bail in the sum of ₦10m with two responsible sureties in like sum who must be gainfully employed with the federal or state government and not less than grade level 16, added that the sureties are to have landed property and the document must be verified by the court.

Cubana Chief Priest is also to submit his travel passport to the custody of the court, thereby denying him of foreign trips during his trial.

The court added that the bail conditions must be perfected within seven days, but in the meantime he was released to his lawyer, who must give an undertaken to produce him later. 

Failure to do so, he will be remanded in correctional facility.

 Recall that the Economic and Financial Crimes Commission (EFCC) had on Wednesday, arraigned before the Court over abuse of the Naira.

He was arraigned on three counts of spraying and tampering with Naira notes at a social event at Eko Hotel in Lagos.

When the case was called on Wednesday, Mrs. Bilikisu Buhari, appeared for the prosecution, while Mr. Chikaosolu Ojukwu (SAN), announced appearance for the defendant.

The defence counsel first informed the court of a preliminary objection challenging the courts jurisdiction as well as a bail application filed on behalf of the defendant.

He told the court that the prosecution was not opposed to the processes they had filed.

After the charges had been read to the defendant, he pleaded not guilty to the charges.

While moving the application for the bail of the defendant, his counsel urged the court to grant him bail on liberal terms.

He told the court that the defendant was admitted to administrative bail by the prosecution following his health condition, adding that due to his weight, the defendabt suffers palpitation and other underlying ailments.

Besides, he told the court that the offence for which the defendant is charged is a misdeamenour and that the prescribed punishment ranges from a fine of N50,000 or an imprisonment term of six months, which is bailable.

He urged the court to grant bail on very liberal terms to the defendant as he is a first offender with no past criminal records and will not jump bail.

Counsel also informed the court that the defendant is an employer of labour with over 1,000 employees on his payroll, who are dependent on their jobs.

He, consequently, urged the court to grant his application as moved.

In response, the prosecutor did not say mut but that she will leave the issue to the discretion of the court.

The court is yet to deliver ruling on the bail. (NAN)

Okechukwu is standing trial on three counts as follows:

Count 1: “That you, Okechukwu Pascal on 13th Feb. 2024, at Eko Hotel, within the jurisdiction of the court, while dancing during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”.

Count 2: “That you Okechukwu Pascal sometime in 2020, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”.

Count 3: “That you Okechukwu Pascal sometime in January 2024, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”.