In a recent development, the Economic and Financial Crimes Commission (EFCC) and popular celebrity barman, Cubana Chief Priest, have reached an agreement to settle the naira abuse charge outside of court. This decision comes after Cubana Chief Priest was granted N10 million bail by the Federal High Court in Lagos State on Wednesday, April 17.
Report Afrique earlier reported that the socialite, cubana chief priest, was arraigned before Justice Kehinde Ogundare on three counts related to the abuse of the nation’s currency. The charges included allegations of spraying and tampering with the naira at a social event, contravening the provisions of the Central Bank Act of 2007. The incident of the accused naira abuse occurred on February 13, 2024, at Eko Hotel.
Details of the settlement agreement between the EFCC and Cubana Chief Priest were not disclosed, but it signals a resolution to the legal dispute without the need for further court proceedings. This development brings an end to the legal battle that has garnered significant public attention since Cubana Chief Priest’s arrest and subsequent arraignment.
As the parties involved move forward with the settlement, the outcome underscores the importance of compliance with financial regulations and the consequences of violating laws related to the nation’s currency. While Cubana Chief Priest’s legal ordeal may have come to a close, the incident serves as a reminder of the need for individuals and businesses to adhere to legal and regulatory requirements to avoid similar repercussions in the future.
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