EFCC Arrests E-Money

The Economic and Financial Crimes Commission ( EFCC)has arrested Nigerian businessman Emeka Okonkwo, also known as E-Money, on suspicion of misusing the Naira note.

Punch claims that the socialite was taken into custody at his home in Lagos’ Omole neighborhood on Monday night.

E-Money was detained on Tuesday, according to commission sources, for allegedly violating the Foreign Exchange Act by spraying US dollars.

One of the sources said, “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.

“He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”

Another source stated that E-Money is currently being flown to Abuja for questioning.

The source, who is not authorised to speak to the press, said, “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue.”

When contacted, EFCC spokesperson Dele Oyewale declined to comment on the matter.

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