KEY POINTS
-
E-Money was released after EFCC interrogation over alleged Naira abuse and defacing of foreign currencies.
-
He expressed gratitude on Instagram, while supporters like Cubana Chief Priest celebrated his release.
-
The EFCC continues to enforce laws against currency abuse, with recent convictions including that of Bobrisky.
Emeka Okonkwo, popularly known as E-Money, a prominent Lagos socialite and businessman, was released on Tuesday evening following hours of questioning by the Economic and Financial Crimes Commission (EFCC) over alleged abuse of the Nigerian Naira and defacing of foreign currencies.
The Punch reports that E-Money was apprehended on Monday night at his residence in the Omole area of Lagos and transported to the EFCC’s Abuja office for interrogation.
The arrest was reportedly linked to a viral video showing him spraying U.S. dollars at a social event, an act considered a violation of the Central Bank of Nigeria (CBN) Act.
E-Money’s release sparks mixed reactions
Upon his release, E-Money took to his Instagram handle, @iam_emoney1, to express gratitude, stating, “No tension, everywhere good, I see all your love and support. God bless you all.” The background of the video featured the song, “Thank you for saving me, thank you my Lord.”
Supporters, including fellow socialite Pascal Okechukwu, known as Cubana Chief Priest, celebrated his release. Cubana Chief Priest posted on Instagram, “My brother don fall out, To God be the glory.”
Despite the celebratory posts, the EFCC has not officially confirmed E-Money’s release. Multiple attempts to reach EFCC spokesperson Dele Oyewale for confirmation were unsuccessful at the time of this report.
The EFCC has intensified efforts to curb the abuse of the Naira, citing Section 21 of the CBN Act, which prohibits actions such as spraying, writing on, or mutilating the currency. Violators may face imprisonment of not less than six months or a fine of at least N50,000, or both.
In recent times, the EFCC has prosecuted several individuals for similar offenses. For instance, Nigerian cross-dresser Bobrisky was convicted for Naira abuse, with the court deferring sentencing to April 9.
E-Money’s case adds to the growing list of high-profile individuals under scrutiny for currency-related offenses, highlighting the EFCC’s commitment to enforcing financial laws and preserving the integrity of the Nigerian currency.
