By Emeka Okonkwo Daniel, better known as E-Money, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC). The arrest took place on Monday night at his residence in the Omole area of Lagos.
Sources within the anti-graft agency said E-Money is being investigated for allegedly spraying United States dollars at public events — an act which violates Nigeria’s Foreign Exchange Act. He is also accused of abusing the Naira by defacing the currency during social gatherings.
“On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed US dollars, which is against the Foreign Exchange Act,” one EFCC source disclosed. “Preliminary investigations are ongoing, and he will be charged in court as soon as investigations are concluded.”
Another insider, who chose not to be named, confirmed that the socialite was already en route to Abuja for further questioning by EFCC investigators. “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue,” the source added.
E-Money, known for his lavish lifestyle and flamboyant displays of wealth at events, has long been in the public eye. His social media pages often show clips of him spraying money at celebrations, a practice that has drawn criticism from regulatory bodies.
As of the time this report was filed, the EFCC had yet to release an official statement on the matter. Nigerians now await further updates on the outcome of the investigation.
