A Federal High Court sitting in Lagos, Nigeria, has slammed a N10 Million Naira ($8707) bail on popular socialite Pascal Okechukwu, widely known as Cubana Chief Priest, over charges of currency abuse.

Mr Okechukwu, a club owner and show businessman, who was accused of indiscriminately launching wads of local notes into the air at social events, was charged by the economic and financial crimes commission (EFCC) in accordance with Section 27(1)(2)and (3) of the CBN Act 2007.

In a nation riddled with multidimensional poverty and alarming corruption where over 60% of the population live on less than a $1 daily and over 200 million Nigerians do not have up to N500,000 ($387) in their bank accounts, an $8707 bail fine for throwing money in the air is an outrageously unjust punishment targeting hardworking few.

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Justice Kehinde Ogundare, in his remarks following the bail stated that “the act of mutilating the naira notes has become a menace, which has continued to damage the image of the country.”

The remark remains rather ironic given the scale of reputation-damaging bribery and corruption currently rocking the nation’s judiciary, including its Supreme Court, which gave rise to the current president of the country.

While the policy remains welcomed, many fear the new naira abuse drive will bestow upon the EFCC an unguarded right to target innocent Nigerians earning a living legitimately, especially since the body has built an odious reputation as a weapon for political persecution and the targeting of young Nigerians falsely accused of internet crimes.

The Federal High Court must desist from the imposition of such outrageous bail fines for disproportionate misdemeanors. Fines act as a deterrent but can be easily weaponised as a means of extortion especially for hardworking Nigerians already suffering the effects of bad leadership and poor economic decisions.