Nigerian socialite and businessman Emeka Okonkwo, known as E-Money, has been released from the custody of the Economic and Financial Crimes Commission (EFCC) following an interrogation that extended into Tuesday night.
E-Money was apprehended late on Monday at his residence in Lagos’ Omole Estate and transported to the EFCC’s Abuja headquarters. The arrest was in connection to allegations of naira abuse and the defacement of foreign currency. Specifically, he was questioned about the alleged “spraying” of U.S. dollars at social gatherings, an act prohibited under Nigeria’s Foreign Exchange Act.
Upon his release, E-Money posted a video on his Instagram account, appearing calm and composed in a luxurious setting. He reassured his followers, stating, “No tension, everywhere good. I see all your love and support. God bless you all.” The video was accompanied by a gospel song with lyrics expressing gratitude for divine salvation.
Fellow socialite Pascal Okechukwu, also known as Cubana Chief Priest, celebrated E-Money’s release with a congratulatory message on social media, saying, “My brother don fall out. To God be the glory.”
E-Money’s detention by the EFCC is part of an intensified crackdown on currency abuse in Nigeria. This follows the recent detention of singer Terry Apala at the Ikoyi Correctional Centre for similar offenses. In March, TikTok personality Murja Ibrahim Kunya was also rearrested in Kano in connection to alleged mishandling of the nation’s currency.
The EFCC has cited Section 21 of the Central Bank of Nigeria (CBN) Act as the legal foundation for its ongoing campaign against the misuse and defacement of the naira. Several high-profile individuals, including social media influencer Bobrisky and Cubana Chief Priest, have faced legal consequences. Bobrisky was sentenced on a six-count charge in April.
The EFCC’s actions signal a strong stance against currency abuse, and the public is keenly observing how future cases involving prominent figures will be addressed.
