Popular businessman, Emeka Okonkwo, Also Known As E-Money, has been released by the Economic and Financial Crimes Commission (EFCC) after meeting the agency’s bail conditions follwoing his arrest over alleged currency abuse during events across the country.
E-Money was released from EFCC custody barely 48 hours after his arrest by the anti-graft agency at his residence in Omole axis of Ikeja Local Government, Lagos State
As gathered, the businessman was apprehended for allegedly spraying U.S. dollars at a social event, an act considered a violation of Nigeria’s Foreign Exchange Act .
After his release, E-Money took to his social media handle to express gratitude to his supporters for their empathy for him after the arrest.
In a video released on his official sopcial media handle, he appeared dressed in traditional attire, seated regally, with the gospel song “Thank You for Saving Me” playing in the background. He captioned the post: “No tension, everywhere good, I see all your love and support. God bless you all” .
The arrest has drawn reactions from fellow celebrities. Pascal Okechukwu, known as Cubana Chief Priest, criticized the EFCC’s actions, suggesting that E-Money’s arrest was an attempt to suppress the Southeast.
He stated, “They were doing this to break him and make him succumb to supporting them under duress” . Similarly, actor Ime ‘Okon Lagos’ Umoh questioned the focus on currency spraying, arguing that authorities should prioritize prosecuting corrupt leaders who harm the economy .
The EFCC has intensified efforts to clamp down on public currency abuse, particularly the spraying of dollars and Naira at social events. E-Money’s brief detention is the latest in a series of actions by the commission targeting such practices .
As of now, the EFCC has not issued an official statement regarding the outcome of their investigation into E-Money. Further developments are awaited.
