Operatives of the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, have arrested the founder of CashNation, one Babatunde Oyerinde Abidoun, a.k.a. Kashy, for his alleged involvement in cybercrimes.
According to the statement released by EFCC on Tuesday 30th June 2020, stated that Mr Abiodun, who is the owner of CashNation Ent. Ltd., a music record label, was arrested recently at his residence in Lekki Conservative Estate, Lagos.
His arrest followed intelligence gathered overtime about his suspicious lifestyle.
Abiodun, who shuttles between Nigeria and the United Arab Emirates, UAE, allegedly used the proceeds of his fraudulent activities to fund his lavish lifestyle.
The anti-graft agency in their statement, also revealed that investigations linking the fraudulent activities of the CashNation Boss, was exposed by his domestic staff, Thomas Aliu Akwu. The alleged staff according to EFCC, had confessed to having different accounts domiciled in UBA, Ecobank, GTB, Zenith Bank and FCMB and also receiving money for his boss through the accounts.
The Commission in their statement, did not state when CashNation Boss will be charged to court, as they continued to record successes in their fight against cybercrimes, popularly known as Yahoo Yahoo across the nation.