Update: EFCC, Cubana Chief Priest Agree to Settle Naira Abuse Case Out of Court

The Economic and Financial Crimes Commission (EFCC) and Cubana Chief Priest, the popular nightlife promoter, have agreed to an out-of-court settlement in the ongoing naira abuse case. This decision was reached during a hearing at the Federal High Court in Ikoyi, Lagos, where Cubana Chief Priest appeared for his trial continuation.

In April, EFCC filed a three-count charge against the social media celebrity, accusing him of naira abuse. When he was arraigned on April 17, he pleaded not guilty to all charges. The judge, Kehinde Ogundare, granted him bail of N10 million with two responsible sureties in like sum, with conditions to be met within seven days.

Cubana Chief Priest was released to his lawyer under the condition that he must return to court when required. The trial was then adjourned to May 2 for continuation. However, during the most recent hearing, both parties agreed to settle the matter outside of court. As a result, the trial was further adjourned to June 5 for the hearing of the settlement report.

Cubana Chief Priest is a well-known figure in the nightlife industry and social media, renowned for his luxurious lifestyle and close ties with Afrobeats singer Davido. He was previously the general manager of Cubana Groups but left in September 2020 to establish Club Xhrine in Owerri, Imo State.

He was also awarded a Doctor of Science in Event and Luxury Hospitality Management degree from the European American University in 2021 and appointed as a social media aide to Hope Uzodinma, the Governor of Imo State, in January 2022.