Obi Cubana Regains Freedom After Three Nights In EFCC Custody

Obi Cubana

Obinna Iyiegbu, the popular socialite and businessman, aka Obi Cubana, has been released.

This comes three days after he was detained by the Economic and Financial Crimes Commission over alleged money laundering and tax evasion.

The Anambra-born club owner was reportedly arrested on Monday afternoon and was granted administrative bail on Tuesday.

A source in the EFCC told SaharaReporters that it was routine for any detained suspect in its custody to be granted administrative bail.

"It is routine that once anyone is detained beyond a day, we give 'Administrative Bail' conditions but he is still with them because he hasn’t met the conditions,” the source said on Tuesday.

Meanwhile, on Thursday evening, Cubana was released from the EFCC custody, according to Punch.

The Cubana Group Chairman had been taken to the Abuja headquarters of the anti-graft agency on Monday afternoon regarding alleged offences bordering on alleged money laundering and tax fraud.

Obi Cubana made headlines in July when he hosted an ostentatious burial for his mother in Oba, Anambra State, in which over 200 cows were reportedly killed.

The lavish display of wealth generated controversies with many Nigerians questioning his source of wealth.

Several celebrities, business people and politicians turned out in large numbers for the funeral.