EFCC VS Cubana Chief Priest: Why Out-of-Court Resolution?

In a recent development that has caught the attention of many, the Economic and Financial Crimes Commission (EFCC) and popular barman, Cubana Chief Priest, have reportedly reached an agreement to settle the naira abuse charges outside of the courtroom.

This news comes after the Federal High Court in Lagos State granted Cubana Chief Priest a bail of N10 million with two sureties in like sum.

The charges against Cubana Chief Priest were centered around the alleged abuse of the naira, specifically related to spraying and tampering with the nation’s currency at a social gathering, actions which contravene the provisions of the Central Bank Act of 2007.

The incident in question occurred on February 13, 2024, at Eko Hotel, where it was claimed that Cubana Chief Priest sprayed the naira while dancing at the event.

It is understood that both parties, the EFCC and Cubana Chief Priest, have opted for an amicable resolution by agreeing to settle the matter out of court.

This decision signifies a step towards resolving the issue in a manner that avoids prolonged legal proceedings and aims to bring closure to the case.

Sources close to the matter revealed that both parties have reportedly agreed to resolve their differences amicably through a mutually beneficial settlement. The terms of the agreement remain confidential, but there is a speculation that they involve a monetary payment from Cubana Chief Priest to the EFCC, along with a commitment to adhere to all relevant financial regulations moving forward.

Cubana Chief Priest, known for his extravagant lifestyle, allegedly expressed relief at the resolution, emphasizing his commitment to upholding the law and conducting his business and affairs with utmost transparency.

The EFCC, on the other hand, reiterated its dedication to combating financial crimes and ensuring accountability in the public and private sectors.

As details continue to unfold, the public eagerly awaits further updates on the outcome of this settlement between the EFCC and Cubana Chief Priest, as well as what becomes fate of one of Nigeria’s most popular celebrities, a transgender woman famously known as Bobrisky, who has been tried and sentenced to prison for the same offence.