Businessman, Obinna Iyiegbu aka Obi Cubana, was released on Thursday night by the Economic and Financial Crimes Commission (EFCC) after spending three nights with investigators.
Cubana was arrested and grilled in connection with alleged tax fraud, currency abuse and money laundering.
Spokesman for the EFCC, Wilson Uwujaren, confirmed late on Thursday that Cubana had been released from its custody.
He had been held and interrogated since Monday afternoon when he honoured an invitation from the anti-graft agency but the details of his alleged offences have not been made public as at the time of his being admitted to administrative bail.
It was not clear what the businessman finally did to meet the conditions of his release.
But there are indications that the businessman would be summoned in future to defend himself in court over issues bordering on currency abuse, tax fraud and money laundering based on what a top source called ‘verified business transactions’.
It will be recalled that the EFCC had on Monday invited the businessman to its head office to answer some questions which the agency classified as tax fraud and money laundering but declined to give specifics, apparently to avoid jeopardising the probe.
Obi Cubana recently made waves across the country when he ostentatiously buried his late mother in Oba, Anambra State.
Currency notes were lavishly spayed on the occasion. It remains uncertain if the probe by EFCC is connected to this.
