In a dramatic move that has shocked fans and stirred social media, Nigeria’s anti-graft agency, the EFCC, has apprehended Lagos billionaire and socialite Emeka Okonkwo, popularly known as E-Money, over claims of Naira abuse and foreign currency defacement.
E-Money Arrested by EFCC in Lagos
The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of Emeka Okonkwo, widely known as E-Money, on allegations of violating Nigeria’s currency regulations. The arrest took place on Monday night at his Lagos residence.
Allegations of Naira Abuse and Foreign Currency Defacement
According to credible sources within the Commission, E-Money is being investigated for allegedly spraying US dollars at a social event held in Lagos. This act, the EFCC says, contravenes the Foreign Exchange Act, which prohibits the defacement of foreign currencies.
EFCC officials noted that spraying money, whether local or foreign, is an offense under Nigerian law. The act has been widely condemned, especially among public figures who are expected to uphold the law.
Investigation Underway and Court Charges Expected
The EFCC has commenced a preliminary investigation into the matter. Officials stated that E-Money has already been transferred to the Commission’s headquarters in Abuja for further questioning.
If the investigations confirm the allegations, E-Money may face prosecution in court. As of press time, the EFCC spokesperson, Dele Oyewale, declined to provide official comments regarding the arrest.
Social Media Buzz and Public Reaction
The news of E-Money’s arrest has spread rapidly across social platforms, with many Nigerians expressing mixed reactions. While some are calling for strict enforcement of the law, others argue that public figures should be more cautious with displays of wealth.
Although the specific event where the alleged spraying occurred remains undisclosed, the issue has once again brought attention to how celebrities and influencers handle public appearances.
A Warning to Other Public Figures
This latest development sends a strong signal to other high-profile Nigerians who may engage in similar actions. The EFCC has maintained that no one is above the law and that the abuse of legal tender, whether Naira or foreign currencies, will be met with due punishment.
What’s your take on E-Money’s arrest? Do you think public figures should be prosecuted for spraying money? Share your thoughts in the comments section below and stay connected with NIGPOST for more updates.
Author:
Chioma Adebayo
Date:
April 29, 2025
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