The Economic and Financial Crimes Commission (EFCC) has reportedly detained a popular socialite and entrepreneur, Obinna Iyiegbu, widely known as Obi Cubana.

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.

Sources familiar with the case told newsmen that it bordered on alleged money laundering and tax fraud.

“Obi Cubana was arrested and brought to the EFCC headquarters on Monday afternoon over allegations of money laundering and tax fraud. He is being grilled by detectives as we speak”, a source was quoted as saying.

Cubana's arrest comes months after he made headlines in July when he hosted a lavish burial for his mother in Oba, Anambra State.

Since the talk-of-the-town burial, Cubana has become an inspirational grass-to-grace figure appearing in interviews where he told stories of how he started in a one-room apartment as a fresh graduate undergoing the mandatory national youth service in Abuja in 1999

He told BBC Pidgin that he started as an estate agent and made his first N1 million through a house furnishing contract he got at that time.

Today, he sits atop sprawling investments in entertainment, hospitality, real estate, among others.