Mathew Amaechi
In a twist of events late Monday night, the Economic and Financial Crimes Commission (EFCC) arrested popular Lagos socialite Emeka Okonkwo Daniel—better known as E-Money—on charges of abusing the Naira note and defacing foreign currencies.
Operatives from the EFCC descended on E-Money’s residence in the Omole area of Lagos as part of a targeted crackdown. Sources within the commission revealed that the arrest followed allegations of the socialite “spraying” U.S. dollars, an act that violates the Foreign Exchange Act. “On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed U.S. dollars, which is against the Foreign Exchange Act,” an insider explained.
This incident has not only raised concerns about the misuse of currency but also spotlighted the strict regulatory measures the commission is now prepared to enforce.The investigation is still in its early stages, with authorities promising that once preliminary inquiries conclude, E-Money will face charges in court.
Sources familiar with the matter have also confirmed that the socialite is being transported to Abuja for further questioning. “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue,” commented an informant who preferred to remain anonymous.
EFCC spokesperson Dele Oyewale declined to provide additional details when contacted, leaving the public to grapple with the full implications of the case. Observers note that the arrest might signal a more aggressive stance by the commission on matters of currency abuse, especially as it pertains to high-profile figures in Nigerian society.
As the investigation unfolds, the community watches closely to see if this incident marks a turning point in the enforcement of financial regulations in Nigeria. More details are expected as authorities continue to build their case, promising further updates on this developing story.
