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 in Lagos over alleged abuse of the Naira currency.
He was arraigned on three counts of spraying and tampering with the Naira notes during a social event at Eko Hotel 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 files 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 defendabt suffers palpitation
Besides, he told the court that the offence with which the defendant is charged is a misdeamenour 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 subsequently granted him N10 million bail. (NAN)
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