The Economic and Financial Crimes Commission (EFCC) and famous socialite Cubana Chief Priest have agreed to resolve the naira abuse case outside of court.
The out-of-court settlement was announced during the restart of proceedings on Thursday.
At the reopening of proceedings, Mrs. Bilikisu Buhari appeared for the prosecution, while Mr. Chikaosolu Ojukwu (SAN) announced appearance for the defendant.
The defense counsel informed the court that the parties were exploring settlement and have applied the matter be settled pursuant to the provisions of section 14(2) of the EFCC Act.
DAILY GIST recalls that the federal high court in Lagos State, on Wednesday, April 17 had 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.
Cubana Chief Priest was said to have also committed the offences while dancing during a social event.
More details to follow….
