The Economic and Financial Crimes Commission (EFCC) has released founder and CEO of Innoson Motors, Innocent Chukwuma.

He was arrested on Tuesday morning in his Enugu home.

After interrogation, the commission released Chukwuma on bail after over 24 hours of detention.

Also read: Innoson Motors' Boss Speaks From EFCC Den

“The EFCC has released Chief Innocent Chukwuma, CEO of INNOSON on bail. Chukwuma & his brother, Charles (who is at large) are being investigated by EFCC's Capital Market & Insurance Fraud Section for N1,478,366,859.66 fraud. He allegedly forged documents to secure tax waivers.” The commission wrote on his twitter handle on Wednesday.

In a statement on Tuesday, Chukwuma claims he is being owed an undisclosed amount of money (believed to be about N8 billion) by Guaranty Trust Bank (GTB) which a court of law had ruled in his favour, and that the EFCC was being used to intimidate him.

Meanwhile, the senate on Wednesday condemned the ‘military’ style of which the EFCC arrested Chukwuma, claiming it was an infringement of his fundamental human right.

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