Nightlife entrepreneur, Okechukwu Paschal, also known as Cubana Chief Priest, has arrived the Federal High Court in Lagos for his trial.

The Economic and Financial Crimes Commission, EFCC, had accused Cubana Chiest Priest of naira abuse.

He was driven to the court around 8:45 am on Wednesday by EFCC operatives with armed police escorts.

On Tuesday, EFCC filed a three-count charge against the social media celebrity.

A copy of the document filed on April 4th by EFFC’s prosecutor Rotimi Oyedepo, SAN alongside seven other lawyers representing the chairman of the Commission read:

“That you, Okechukwu Pascal on 13th Feb. 2024, at Eko Hotel, within the jurisdiction of the court, while dancing during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

“That you Okechukwu Pascal sometime in 2020, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

“That you Okechukwu Pascal sometime in January 2024, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007.”

Meanwhile, the Cubana Chief Priest, has pleaded not guilty to tampering and abusing the naira during his trial at the Federal High Court, Lagos.

He was arraigned before Justice Kehinde Ogundare of the Federal High Court in Lagos on three counts bordering on abuse of naira by allegedly spraying and tampering with the nation’s currency at a social event, contrary to the provisions of the Central Bank Act of 2007.

He was alleged to have sprayed the naira on February 13, 2024, at Eko Hotel.

Cubana Chief Priest was said to have also committed the offences while dancing during a social event.

He was said to have tampered with funds in the denomination of N500 notes issued by the CBN by spraying the same for two hours.

Details later…

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for 16th April, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1050 and sell at N1100 on Tuesday 16th April 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today

Buying Rate N1050
Selling Rate N1100

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN) CBN Rate Today

Buying Rate N1160
Selling Rate N1161

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1200 to 1,000 Naira per litre.

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

The refinery stated that “this significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”

Recall that Tribune Online, in an exclusive report on Thursday, revealed that indigenous ship owners were not part of the number of vessels that have lined up at the Dangote Refinery to load diesel and aviation fuel.

Speaking exclusively with the Tribune Online, President of SOAN, Mr Sunny Eja, said, “My members are not involved in the product lifting currently taking place at the Dangote Refinery. We are still engaging with various stakeholders to see how we can participate.

However, the Executive Director of the Dangote Group, Devakumar Edwin, earlier in an interview with newsmen, was quoted to have said “We have substantial quantities. Products are being evacuated both by sea and road. Ships are lining up one after another to load diesel and aviation jet fuel. Ships load a minimum of 26 million litres, though we try to push for 37 million litres vessels, for ease of operations.”