The Economic and Financial Crimes Commission (EFCC) on Wednesday, arraigned a businessman Pascal Okechukwu, a k a Cubana Chief Priest, before a Federal High Court sitting in Lagos over abuse of the Naira currency.
He was arraigned on a three-count charge of allegedly spraying and tampering with the Naira notes during a social event at Eko Hotels in Lagos.
When the case was called on Wednesday, Mrs Bilikisu Buhari appeared for the prosecution while Mr Chikaosolu Ojukwu (SAN) announced appearance for the defendant .
The defence counsel then first informed the court of a preliminary objection challenging the court’s jurisdiction as well as a bail application filed on behalf of the defendant.
He informed the court that the prosecution was not opposed to 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 .
He told the court that the defendant was admitted 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 misdemeanour 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 1000 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 the defendant bail in the sum of N10 million with two sureties in like sum. The sureties must have landed property within the jurisdiction . The documents must be verified by the prosecution with the Deputy Chief Registrar of the court.
In addition, one of the sureties must be a level 16 officer in private or public sector. The bail terms must be perfected within seven days or else it will be revoked. He was released to his lawyer pending perfection of his bail.
The matter is adjourned to May 2 for hearing of pending application , that is the preliminary objection.
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