BREAKING: EFCC Arrest Obi Cubana For Money Laundering

Reports say that the Economic and Financial Crimes Commission (EFCC) has arrested Nigerian buisnessman, Obinna Iyiegbu, who is popularly known as Obi Cubana.

This news was confirmed by the Economic and Financial Crimes Commission (EFCC).

The Economic and Financial Crimes Commission (EFCC) is yet to come out to reveal why they arrested Cubana, but reports say that the buisnessman is being questioned in the EFCC office in Abuja.

The businessman is from Anambra state in eastern Nigeria and he is into the entertainment and hospitality business.

Cubana made headlines in July, 2021 with the burial of his mother in his hometown, Oba, Idemili South, for the amount of money they spent on and during her mother’s burial.

Nigerians were outraged at the time because the businessman and his associates sprayed money in the burial, claiming that spraying currency notes is against the law, but Cubana defended himself, claiming that the people who sprayed the notes were the ones who owned them and could spend them however they saw fit.

Spraying of currency notes is illegal as the Central Bank of Nigeria (CBN) Act regulation says spraying the naira currency is considered to be an act of abuse and defacing. Someone who does this act might be imprisoned for not less than six months or fined not less than N50,000 or both.

And now the Buisnessman has been accused of money laundering and is being interrogated for the allegations.