E-Money released after EFCC arrest over naira abuse, dollar spraying

Emeka Okonkwo, better known as E-Money, a well-known socialite in Lagos, was reportedly released on Tuesday evening following an extensive questioning session with officials of the Economic and Financial Crimes Commission (EFCC).

His arrest occurred on Monday night at his home in Omole, Lagos, after which he was transported to the EFCC headquarters in Abuja. The arrest was linked to allegations of currency mutilation and improper handling of foreign notes.

A source within the commission disclosed, “On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed U.S. dollars, which is against the Foreign Exchange Act. He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”

Taking to his Instagram page, @iam_emoney1, the businessman expressed gratitude and shared a video showing him in high spirits. In the video, the gospel song, “Thank you for saving me, thank you my Lord,” could be heard playing in the background. He captioned it, “No tension, everywhere good, I see all your love and support. God bless you all.”

Messages and calls placed to EFCC spokesperson Dele Oyewale for official confirmation of E-Money’s release went unanswered at the time this report was compiled.

In a show of support, fellow socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, also posted on Instagram via his handle @Cubana_ChiefPriest, saying, “My brother don fall out, To God be the glory.”