Monday, November 29, 2021
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BREAKING: EFCC Releases Obi Cubana


The Economic and Financial Crimes Commission (EFCC) has released the chairman of Cubana Group, Obi Iyiegbu, popularly known as Obi Cubana from its custody.

Naija News reports that Cubana was set free hours after the Nigerian anti-graft agency had said it won’t release the socialite until bail conditions are met.

Obi Cubana, who on Monday, November 1 honoured an invite to the office of the EFCC to answer questions bordering on alleged offences of money laundering and tax fraud, was held back by the anti-graft agency.

A statement from an EFCC official had noted that the businessman was expected to satisfy the bail conditions laid out by the EFCC.

“There are many things for which the businessman is being interrogated and until he meets the conditions for his bail, the interrogation would continue,” the official said without specifically naming what the socialite is being grilled for.

But among the likely charges are an abuse of the Naira, tax fraud, and money laundering based on what the source called ‘verified business transactions’.

More details later…

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Akinola Olusegun is a blogger and publisher of this blog, You can also check out his other blogs : (videos & news), (e-commerce), (news) among others. Follow him via any or all of his social media pages to get fresh posts update.

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