(News That Breaks): Pascal Okechukwu, a well-known businessman from Nigeria who goes by the handle Cubana Chief Priest on social media, is an expert in hospitality and entrepreneurship. He is a co-founder of Cubana Group, a Nigerian conglomerate that runs a number of upscale nightclubs and other companies. Chief Priest of Cuba is a colorful character well-known for his vibrant social media presence and opulent way of living. was given permission to bond by a Lagos court. Judge Kehinde Ogundare of the Federal High Court granted N10 million bail to Cubana Chief Priest, accompanied by two sureties in the same sum.
Charges and Plea: On Wednesday, Cubana Chief Priest was arraigned on three charges related to suspected Naira misuse. The allegations are said to be related to claims that he disrespectfully sprayed and tampered with Nigerian cash during a social function at Lagos’ Eko Hotel in February 2024. Online videos purportedly showed the Cubana Chief Priest merrily flinging massive numbers of Naira bills about. Such acts are forbidden by Nigerian law because they may compromise the banknotes’ physical integrity and show disdain for the country’s money. Guidelines for the appropriate handling of Naira have been developed by the Central Bank of Nigeria (CBN), and they forbid writing, squeezing, spraying, or otherwise mutilating banknotes.
To the allegations, Cubana Chief Priest entered a not guilty plea.
Judge’s Decision and Next Steps: By granting Cubana Chief Priest bail, the judge has released him from detention until the outcome of his trial. This implies that while the legal process is ongoing, Cubana Chief Priest will be allowed to go back home and go on with his regular activities. In the upcoming weeks or months, the court will probably schedule the trial, when Cubana Chief Priest will have the chance to refute the allegations against him. In addition, Cubana Chief Priest’s bond stipulates that he must adhere to specific requirements, such turning in his travel papers and being under the court’s authority.
Cubana Chief Priest may have his bail revoked and be placed back under arrest by the court if he disobeys these orders.
Naira Abuse Laws: It is against the law in Nigeria to destroy, disfigure, or show disdain for the Naira, which is the nation’s national money. These rules are upheld by the Central Bank of Nigeria (CBN) in an effort to maintain the Naira’s integrity. These laws aim to preserve the symbolic value of the currency in addition to safeguarding the banknotes’ physical integrity. A broken or improperly handled Naira note may represent a faltering economy or a disrespectful attitude toward the country. Additionally, the CBN forbids actions like excessive folding and writing on Naira notes that might reduce their longevity. The Central Bank of Nigeria (CBN) aims to maintain the Naira as a reliable and stable medium of exchange in Nigeria by encouraging its appropriate management.
