Naira abuse: EFCC, Cubana Chief Priest go for out-of-court settlement

The Economic and Financial Crimes Commission (EFCC) and popular socialite, Cubana Chief Priest, have agreed to settle out of court in a naira abuse case  before  a Federal High Court in Lagos.

The celebrity barman was accused of abusing the naira on February 13, 2024 at Eko Hotel.

The EFFC  later arraigned him 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.

But he was on  April 17 granted a  N10m bail with two sureties in like sum.

READ ALSO: Cubana Chief Priest pleads not guilty to charges of Naira abuse, gets N10m bail

On April 16, the Economic and Financial Crimes Commission (EFCC) filed a three-count charge against him over alleged naira abuse.

He was arraigned the following day at the Federal High court in Lagos.

When the charges were read during court sitting, the social media celebrity pleaded not guilty to them.

Kehinde Ogundare, the judge, thereafter granted him bail in the sum of N10 million with two responsible sureties in like sum.

The judge ruled that the bail conditions must be perfected within seven days.

Cubana was released to his lawyer who must give an undertaking to produce him later. He will be remanded in a correctional facility if his lawyer fails to do so.