Popular businessman, Pascal Okechukwu aka Cubana Chief Priest, has resolved his legal issues with the Economic and Financial Crimes Commission (EFCC).
He forfeited N10 million to the Federal Government and entered into a bond to be of good behavior.
This development comes after the EFCC filed charges against the socialite for allegedly abusing the naira.
The parties reached an out-of-court settlement agreement, which was adopted by the Federal High Court in Lagos.
According to the terms of the agreement, Cubana Chief Priest will also engage in sensitization and campaign against the abuse of naira and other economic and financial crimes.
He is required to post videos on his social media handles every two months, promoting the responsible use of the naira and condemning related offences.
The settlement agreement was duly signed by both parties and adopted by the trial judge, Justice Kehinde Ogundare, on Tuesday.
The EFCC’s counsel, Bilkisu Buhari-Bala, informed the court that the parties had reached an agreement, and the defendant’s counsel, Chikaosolu Ojukwu (SAN), commended the EFCC for their reasonable action in resolving the matter.
Ojukwu also acknowledged his client’s remorse and promised that Cubana Chief Priest would turn over a new leaf going forward.
The consequences of the settlement include the court dismissing the charge, and Cubana Chief Priest forfeiting the sum of N10 million to the consolidated revenue fund of the Federation.
The terms of the settlement agreement, pursuant to Section 14(2) of the EFCC Establishment Act, 2004, also require Cubana Chief Priest to engage in rigorous and intensive sensitization and campaign against the abuse of coins and notes issued under the Central Bank of Nigeria (CBN) Act as legal tender.
