EFCC Finally Releases Obi Cubana After Three Days In Detention, To Face Court Trial

Billionaire club owner, Obinna Iyiegbu, popularly known as Obi Cubana, has finally been released after three days of questioning in the custody of the Economic and Financial Crimes Commission (EFCC).

KanyiDaily had reported how Obi Cubana was arrested by EFCC operatives and taken to their headquarters in Abuja on Monday afternoon, 1st November.

The reason for his arrest was sketchy, but a source disclosed that the socialite was being interrogated by the EFCC over alleged money laundering and tax fraud.

The Spokesman for the EFCC, Wilson Uwujaren confirmed late on Thursday that Cubana had been released from its custody on administrative bail.

“He has been released,” Uwujaren said in a text message sent to PUNCH.

It was gathered that Cubana may be required to visit the EFCC headquarters from time to time until the conclusion of his investigation.

Obi Cubana To Face Future Trial In Court

A source disclosed that the Anambra businessman was only released because the EFCC was under pressure that its action could be misinterpreted as an attack on the people of South-East extraction.

From the outlook of things, it is believed that Cubana would be summoned in the future to defend himself in court over issues bordering on currency abuse, tax fraud and money laundering based on what a top source called ‘verified business transactions’, Vanguard reports.

When contacted by The Sun, EFCC spokesman, Wilson Uwujaren declined to confirm or deny if there were plans by the commission to charge the businessman to court.

He said: “What I can say is that the commission has done what it is supposed to do in line with the rule of law. This is not an interview and I can’t respond to these questions.”

KanyiDaily recalls that Obi Cubana came to the spotlight following the flamboyant burial he staged for his late mother in Anambra, where he and his colleagues were seen spraying local and hard currencies during the funeral.