The Federal High Court in Lagos, Nigeria has ordered celebrity bartender and businessman Pascal Okechukwu, popularly known as Cubana Chief Priest, to forfeit ₦10 million to the Federal Government.
This order comes as part of a settlement agreement with the Economic and Financial Crimes Commission (EFCC) over charges related to the alleged abuse of the naira.
During the proceedings on Tuesday, June 25, 2024, EFCC counsel Bilkisu Buhari-Bala informed the court that both parties had entered into an out-of-court settlement, which was duly signed. The settlement was adopted by the trial judge, Justice Kehinde Ogundare.
The defendant’s counsel, Senior Advocate of Nigeria Chikaosolu Ojukwu, praised the EFCC’s decision to resolve the matter amicably, stating that the defendant is remorseful and promises to reform.
Justice Ogundare, in his ruling, adopted the terms of the settlement and struck out the charge against Okechukwu.
The terms of settlement, pursuant to Section 14 (2) of the EFCC Establishment Act, 2004, include:
The agreement pertains only to the contraventions of the law stated in the pending charge against the defendant.
The defendant must enter into a bond with the EFCC to maintain good behaviour and refrain from engaging in any economic and financial crimes.
The defendant is required to engage in rigorous and intensive sensitisation campaigns against the abuse of coins and notes issued under the CBN Act as legal tender. This includes posting a minimum of two video clips bi-monthly on his social media handles.
The defendant must pay a sum not less than ₦10 million to the consolidated revenue fund of the Federation upon executing the agreement.
