The Economic and Financial Crimes Commission (EFCC) has arrested popular Lagos socialite Emeka Okonkwo, widely known as E-Money, for allegedly abusing the Naira and defacing foreign currency.
E-Money was apprehended Monday night at his residence in the Omole area of Lagos. According to EFCC sources, his arrest follows allegations that he publicly sprayed U.S. dollars at social events, a violation of Nigeria’s Foreign Exchange Act.
A source within the commission confirmed, “E-Money was arrested for Naira abuse and defacing foreign currencies, particularly for spraying U.S. dollars. Investigations are ongoing and he will be charged once they are complete.”
Another source disclosed that E-Money is currently being flown to Abuja to face further questioning by EFCC investigators.
When contacted for confirmation, EFCC spokesperson Dele Oyewale declined to comment.
