Chief Executive Officer of Innooson Group, Innocent Chukwuma has rejected his release from the custody of the Economic and Financial Crimes Commission (EFCC).

What happened:

Chukwuma was arrested on Tuesday by the EFCC. The commission had said the CEO refused to honour its invitations, an allegation Innoson motors denied.

The EFCC later granted him bail, stating that he committed fraud and perjury.

What is happening:

His company, Innoson motors on Twitter said Chukwuma has rejected the bail granted to him.

It said the billionaire is yet to be told why he was arrested.

Breaking News
Innoson has refused his release because he is demanding to know the reason for his arrest.

— Innoson Vehicles (@innosonvehicles) December 20, 2017

“Innoson has refused his release because he is demanding to know the reason for his arrest,” it wrote.

Allegations not clear enough?

At this point, one has to wonder if the explanation given to Chukwuma as to why he was arrested are not clear enough?

While announcing his bail earlier, the EFCC had alleged that Chukwuma and his brother committed fraud and forgery.

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.

— EFCC Nigeria (@officialEFCC) December 20, 2017

“Chief Chukwuma and his brother, Charles Chukwuma (who is still at large), are being investigated by the Insurance and Capital Market Fraud Section of the Commission’s office in Lagos over matters bordering on N1, 478, 366, 859.66 fraud and forgery,” the commission had said in a statement.

“The industrialist, among other infractions, allegedly used forged documents to secure tax waivers.”

If Chukwuma is intentionally ignoring these reasons given and has not reacted to them, then what more explanation does he want?

Azeez