Popular Lagos socialite and businessman, Emeka Okonkwo, better known as E-Money, was released on Tuesday evening following hours of interrogation by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged abuse of the Nigerian currency and defacing of foreign notes.
E-Money was arrested on Monday night at his residence in the Omole area of Lagos and subsequently transported to the EFCC’s headquarters in Abuja.
According to agency sources, the arrest stemmed from allegations that he publicly sprayed U.S. dollars in a manner that contravenes the Foreign Exchange Act.
An EFCC official, speaking anonymously, confirmed the development:
“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. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”
Following his release, E-Money took to Instagram to express gratitude to his followers. In a video posted to his verified handle, @iam_emoney1, he appeared in his home with a gospel song playing in the background and wrote, “No tension, everywhere good. I see all your love and support. God bless you all.”
His close associate and fellow socialite, Pascal Okechukwu, popularly known as Cubana Chief Priest, also celebrated the release on his Instagram page, writing:
“My brother don fall out. To God be the glory.”
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