Cash Nation Entertainment Boss, ‘Kashy’ Arrested By EFCC

June 29, 2020
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The Nigerian Economic and Financial Crimes Commission (EFCC) has arrested the CEO of Nigerian record label, Cash Nation Entertainment, Babatunde Oyerinde Abiodun, popularly referred to as Kashy for his alleged involvement in cybercrime fraud.

The news was released by the official Twitter handle of EFCC who revealed that the arrest was made3 after they have gathered intelligence about his suspicious lifestyle.

EFCC also revealed that the investigation linked his domestic staff, Thomas AliuAkwu, who confessed to having different accounts across Nigerian banks where he receives money for his boss, Babatunde Oyerinde Abiodun.

Kashy’s record label, CashNation Entertainment is home to Nigerian artistes such as Barry Jhay.

Read the full statement from EFCC;

“EFCC Arrests CashNation Boss, ‘Kashy’ For Alleged Internet Fraud Operatives of the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, have arrested one Babatunde Oyerinde Abidoun, a.k.a. Kashy, for his alleged involvement in cybercrimes.

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. 2/

Abiodun, who shuttles between Nigeria and the United Arab Emirates, UAE, allegedly used the proceeds of his fraudulent activities to fund his lavish lifestyle. 3/

Investigations linked his fraudulent activities to his domestic staff, Thomas Aliu Akwu, who confessed to having different accounts domiciled in UBA, Ecobank, GTB, Zenith Bank and FCMB and also receiving money for his boss through the accounts. 4/

Items recovered from the suspect at the point of arrest include a white 2013 Bentley Continental and Mercedes Benz GLK 350. The suspect will soon be charged to court as soon as investigations are concluded. End.”

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