The Nation has learned that the Economic and Financial Crimes Commission (EFCC) and well-known bartender Cubana Chief Priest have reached an agreement to resolve the socialite’s naira abuse case outside of court.
The Federal High Court in Lagos State, on Wednesday, April 17, granted Cubana Chief Priest N10m bail with two sureties in like sum.
He was arraigned before Justice Kehinde Ogundare on three counts bordering on abuse of naira, spraying and tampering with the nation’s currency at a social event contrary to the provisions of the Central Bank Act of 2007.
The socialite was alleged to have sprayed the naira on February 13, 2024 at Eko Hotel.
Claims of naira abuse, which is defined as the inappropriate handling or destruction of Nigerian currency, a violation of the Central Bank of Nigeria (CBN) Act, gave rise to the issue surrounding Cubana Chief Priest. The socialite was the target of legal action by the Economic and Financial Crimes Commission (EFCC), the regulatory organization responsible for looking into financial crimes in Nigeria. The case was heard in the Federal High Court of Lagos State.
Cubana Chief Priest was said to have also committed the offences while dancing during a social event.
