Naira Abuse: EFCC, Cubana Chief Priest To Settle Out Of Court

EFCC, Cubana Chief Priest Reach Out-of-Court Settlement in Naira Abuse Case

The Economic and Financial Crimes Commission (EFCC) and celebrity barman Pascal Okechukwu, popularly known as Cubana Chief Priest, have reached an agreement to settle the naira abuse charges outside of court. This news comes after Cubana Chief Priest pleaded not guilty to the charges in April 2024.

The details of the settlement are not yet public, but the agreement was disclosed during a recent court hearing. This development comes amidst ongoing debate about the EFCC’s authority to prosecute naira abuse cases. Some legal experts argue that the Central Bank of Nigeria (CBN) holds the legal power for such prosecutions.

Cubana Chief Priest is not the only high-profile figure to face naira abuse charges. Earlier this year, actress Oluwadarasimi Omoseyin and socialite Bobrisky were also arraigned for similar offenses. Bobrisky was sentenced to six months imprisonment without the option of a fine.

The outcome of this out-of-court settlement will be closely watched as it could set a precedent for future naira abuse cases. It remains to be seen whether the EFCC will pursue similar settlements with other defendants or continue litigation.