The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned a businessman, Pascal Okechukwu, popularly known as Cubana Chief Priest, before a Federal High Court in Lagos over alleged abuse of the Naira currency.
He was arraigned on three counts of spraying and tampering with the Naira during an event at Eko Hotel in Lagos.
When the case was called on Wednesday, Bilikisu Buhari appeared for the prosecution, while Chikaosolu Ojukwu (SAN), announced appearance for the defendant.
The defence counsel informed the court of a preliminary objection challenging the court’s jurisdiction as well as a bail application filed on behalf of the defendant.
Ojukwu informed the court that the prosecution was not opposed to the same.
After the charge was read to the defendant, he pleaded not guilty to the charge.
In moving the bail application of the defendant, counsel urged the court to grant him bail on liberal terms.
Ojukwu told the court that the defendant was admitted to bail by the prosecution following his health condition, adding that due to his weight, the defendant suffers palpitation.
Besides, he told the court that the offence with which the defendant is charged is a misdemeanor and that the prescribed punishment ranges from a fine of N50,000 or an imprisonment term of six months.
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 .
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 said she will leave the issue of bail to the discretion of the court.
The court granted Okechukwu bail in the sum of N10 million.
