E-Money in EFCC Custody Over Naira Abuse
The Economic and Financial Crimes Commission (EFCC) has arrested popular Nigerian socialite, Emeka Okonkwo, widely known as E-Money, over alleged abuse of the Naira and suspected money laundering.
The arrest reportedly took place in the Omole area of Lagos State, with E-Money subsequently transferred to the EFCC headquarters in Abuja.
Sources revealed that E-Money was seen at a public event allegedly spraying Naira notes and US dollar bills—an act that may contravene Nigeria’s currency regulations.
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Although specific details surrounding the incident remain unclear, the socialite is said to be under investigation for possible violations of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.
E-Money, the Chief Executive Officer of Emmy Cargoes Nigeria Limited and Five Star Music, has yet to respond to the allegations. The EFCC is also yet to release an official statement as at the time of filing this report.
His arrest comes amid the EFCC’s ongoing crackdown on Naira abuse. Just days earlier, singer Terry Apala was remanded in custody over similar allegations.
In its effort to stem out the abuse of the Naira, the EFCC has previously arrested entrepreneur, Pascal Okechukwu, famously referred to as Cubana Chief Priest, and cross dresser, Idris Okuneye, popularly known as Bobrisky.
Both celebrities were at different times guests of the anti-graft agency for spraying the national currency at parties, against regulations that classify all acts of Naira abuse as punishable by imprisonment for a term of not less than six months or a fine not less than ₦50,000 or both.
