UPDATED
Facts are emerging why the Economic and Financial Crimes Commission, EFCC arrested and detained overnight Chief Obinna Iyiegbu (aka Obi Cubana).
Although the Agency has yet to put out a formal statement, sources said the Oba, Anambra native will be charged to court for three major offences.
The offences include tax evasion, money laundering and public abuse of the national currency, the Naira.
All three appear to be linked to the lavish burial ceremony that he organised to honour his mother. Enugu Metro had correctly speculated that his public show may have attracted tax authorities.
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Obinna Iyiegbu was detained and questioned by the Economic and Financial Crimes Commission, EFCC, arrested and detained Obi Cubana yesterday.
Also as at this morning, the agency has yet to put out a statement on what were the offences of the after hours business tycoon.
Media outlets – including Vanguard and Daily Trust – speculated last night that the charges border on money laundering and tax fraud.
Agency spokespersons however remained noncommittal when pressed by reporters to disclose the readon for the invitation and arrest.
The EFCC usually acts based on petitions from members of the public or from the promptings of other regulatory agencies.
Obi Cubana, whose given names are Obinna Iyiegbu, was yesterday invited over by the Agency and arrived at their Jabi Office around noon.
He was reportedly detained overnight for an offence that the Agency has yet to make public.
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He manages some of the most popular entertainment style businesses in Nigeria’s capital city of Abuja.
Consequently, people of diverse backgrounds constitute his patrons. How he got into the mix has so far remained speculative.
“Let’s wait till later today for the Agency,” a security analyst said.
“Since they mention tax fraud, its entirely likely that stories of his famous wealth have attracted the attention of tax authorities.
“EFCC must definitely issue a statement today since the matter has escaped to the media and become public,” he said.
Chief Iyiegbu’s wealth and his business acumen recently hit the headlines, following a lavish funeral for his mother.
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