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June 25, 2024

Cubana Chief Priest: We’re undeterred in defending sanctity of Naira – EFCC tells Nigerians

Cubana Chief Priest

…reveals why Naira abuse cost Cubana Chief Priest N10m

By Luminous Jannamike

ABUJA – Following the judgment of Justice Kehinde Ogundare of the Federal High Court sitting in Lagos regarding the terms of settlement for the three-count charges related to the abuse of Naira notes against Okechukwu Pascal, also known as Cubana Chief Priest, the Economic and Financial Crimes Commission (EFCC) has vowed to continue protecting the sanctity of the Naira.

It also clarified that Cubana Chief Priest’s N10 million fine was imposed due to his violation of the Central Bank of Nigeria (CBN) Act.

According to the EFCC, Cubana Chief Priest’s actions were compounded under Section 14(2) of its Establishment Act, 2004, which allows the commission to accept a sum of money exceeding the maximum amount the offender would have been liable to pay if convicted.

In addition, Cubana Chief Priest is obligated to lead a sensitization campaign against Naira abuse, with regular updates on his social media handles.

In a statement by Dele Oyewale, EFCC’s Head of Media and Publicity, on Monday night, the commission stated that all of these measures are intended as strict deterrents to prevent Cubana Chief Priest from future desecration of the Naira.

The EFCC reiterated its commitment to enforcing laws related to financial crimes and promoting financial literacy among Nigerians, insisting that the Special Task Force against Naira Abuse and Dollarisation of the economy remains in place.

The statement read, “The Commission acted in line with Section 14(2) of its Establishment Act, 2004, which empowers it to compound any offence, subject to provisions of Section 174 of the 1999 Constitution of the Federal Republic of Nigeria by ‘accepting such sum of money as it deems fit exceeding the maximum amount by which the offender would have been liable if he had been convicted.’

“The defendant (Cubana Chief Priest) shall bi-monthly post on his various social media handles a minimum of two video clips of his sensitization/campaign against abuse of Naira and sundry offences.

“The Special Task Force against Naira Abuse and Dollarisation of the economy remains in place. The Commission remains undeterred in the pursuit of its lawful mandate and the court’s ruling on Cubana Chief Priest should stimulate enhanced commitment among Nigerians to defend the sanctity of the Naira and refrain from any infraction against the nation’s legal tender.”