The Economic and Financial Crimes Commission (EFCC) has defended its decision to impose a N10 million fine on socialite Cubana Chief Priest, stating that its actions are in full compliance with Section 14(2) of its establishment act. This announcement follows a court judgment on the case.
EFCC spokesperson, Dele Oyewale, elaborated on the significance of the court’s ruling, noting that the establishment act empowers the commission to settle any offence by accepting a sum it deems appropriate, even if it exceeds the maximum amount the offender would have been liable for upon conviction. In this context, the N10 million fine significantly surpasses the N50,000 penalty typically associated with the offence.
Oyewale emphasized that the EFCC’s Special Task Force Against Naira Abuse and Dollarisation remains active and undeterred in its mission. He encouraged Nigerians to take heed of the Cubana Chief Priest judgment and avoid any infractions against the Naira.
