Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Lagos-based socialite and businessman Emeka Okonkwo Daniel, popularly known as E-Money, for alleged abuse of the naira and defacement of foreign currencies.
The arrest took place at his residence in Omole, Lagos, late on Monday following accusations of spraying US dollars, an act in violation of Nigeria’s Foreign Exchange Act.
Okay.ng reports that E-Money’s arrest is linked to viral footage showing the flamboyant businessman allegedly engaging in public display and spraying of foreign currency, an offence the EFCC has recently intensified efforts to clamp down on.
While EFCC Spokesperson, Dele Oyewale, declined to comment on the matter, a reliable source within the Commission confirmed that E-Money is currently being flown to Abuja, where he will face investigators.
“Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded,” the source disclosed.
The EFCC has in recent months ramped up enforcement around naira abuse and currency defacement, warning celebrities and public figures against the indiscriminate handling of both local and foreign currencies at public events.
E-Money, known for his lavish lifestyle and high-profile public appearances, now joins a growing list of individuals under EFCC scrutiny for currency-related offences.
