Nigerian-based businessman, entertainer, entrepreneur, and philanthropist, Obinna Iyiegbu, popularly known as Obi Cubana has been released by the Economic and Financial Crimes Commission (EFCC) after three days in custody.
Obi Cubana was arrested and questioned on suspicion of money laundering and tax evasion.
On Thursday evening, the Anambra-born nightclub owner, who was arrested on Monday, heaved a sigh of relief.
YOU MAY ALSO LIKE: “We Igbos Are Used To This” Cubana Chief Priest Reacts To His Former Boss, Obi Cubana’s Arrest
The EFCC spokesman, Wilson Uwujaren, confirmed that Obinna Cubana had been released.
He was interrogated multiple times by the EFCC over his suspected involvement in money laundering and tax fraud during his stint with the agency.
However, he may be summoned in the future to defend himself against allegations of currency manipulation, tax fraud, and money laundering based on ‘verified business transactions,’ according to a top source.
YOU MAY ALSO LIKE: Why EFCC Arrested Popular Socialite, Obi Cubana
It will be recalled that the EFCC had on Monday invited the businessman to its head office to answer some questions which the agency classified as tax fraud and money laundering but declined to give specifics, apparently to avoid jeopardizing the probe.
Obi Cubana is currently one of the richest and the most influential personalities, entertainers, show promoters, and entrepreneurs in Nigeria.
His net worth is estimated to be $96 million. This is based on his income, properties, and asset.
