This was why Obi Cubana was arrested over alleged money laundering allegation

Socialite and businessman, Obinna Iyiegbu, aka Obi Cubana, has been arrested by the Economic and Financial Crimes Commission, EFCC.

The Anambra-born tycoon, who arrived the headquarters of the EFCC at Jabi Abuja at about noon on Monday, was still being interrogated by operatives of the Commission as at 10:30 pm.

Though allegations against the socialite were sketchy as of press time, a source disclosed that his case borders on alleged money laundering and tax fraud.

It was unclear as at press time, if the businessman, who commands large followers across Nigeria, would sleep in EFCC cell or be released on bail to go home before daybreak.

When contacted, the spokesman of the Commission, Wilson Uwujaren said he was yet to be briefed on the development.

Earlier in the year, Obi Cubana made headlines and trended on social media following a lavish burial ceremony for his late mother in Anambra state.

Obi Cubana owns over 10 nightclubs and lounges, including the newest ”Hustle and Bustle”. He is also into real estate partnering with the biggest real estate developer in Lagos State Kennedy Okonkwo.