The Economic and Financial Crimes Commission (EFCC) and Cubana Chief Priest have agreed to settle out of court concerning the naira abuse case against the nightlife promoter.
Cubana arrived at the federal high court, Ikoyi, Lagos, on Thursday for the continuation of his trial.
On April 16, the Economic and Financial Crimes Commission (EFCC) filed a three-count charge against him over alleged naira abuse.
He was arraigned the following day. When the charges were read, the social media celebrity pleaded not guilty.
Kehinde Ogundare, the judge, thereafter granted him bail in the sum of N10 million with two responsible sureties in like sum.
The judge ruled that the bail conditions must be perfected within seven days.
Cubana was released to his lawyer who must give an undertaken to produce him later. The trial was adjourned to May 2 for continuation.
During sitting, both parties agreed to settle the matter out of court. The trial was then adjourned to June 5 for the hearing of the settlement report.
The social media celebrity is well known for his luxurious lifestyle.
Cubana is also known for his affiliation with Davido, the Afrobeats singer.
He served as the general manager of Cubana Groups but left the brand in September 2020 and established Club Xhrine in Owerri, Imo.
The nightlife promoter was honoured with a doctor of science in event and luxury hospitality management degree from the European American University in 2021.
In January 2022, Cubana was appointed as a social media aide to Hope Uzodinma, the governor of Imo state.
