The Economic and Financial Crimes Commission (EFCC) has apprehended a Nigerian businessman and entertainment mogul Emeka Okonkwo, popularly called E-Money, over allegations of naira abuse.
As gathered, the socialite was arrested as the agency intensified efforts to end the abuse of Naira among Nigerians during events across the country.
It was gathered that he was picked up by operatives of the commission in Lagos yesterday after evidence proved that he violated the law against the mutilation and abuse of the Nigerian currency.
E-Money, known for his lavish lifestyle and philanthropic activities, was allegedly apprehended following the circulation of videos on social media showing him spraying naira notes at a recent event.
Such acts are considered violations under the Central Bank of Nigeria Act, which prohibits the mutilation, defacing, or abuse of the naira.
This development follows a series of similar arrests by the EFCC targeting public figures who have been seen abusing the naira.
Notably, in April 2024, internet personality Bobrisky was sentenced to six months in prison without the option of a fine after pleading guilty to charges related to naira abuse.
The EFCC’s crackdown on naira abuse is part of a broader initiative to preserve the integrity of the Nigerian currency and curb practices that are deemed disrespectful or harmful to the economy.
The agency has warned that individuals, regardless of their social status, will be held accountable if found violating currency regulations.
As of now, the EFCC has not released an official statement regarding E-Money’s arrest. Further details are expected as the investigation unfolds.
