E-Money Released After EFCC Arrest Over Alleged Naira Abuse

Popular Lagos socialite, Emeka Okonkwo, widely known as E-Money, was reportedly released on Tuesday evening after hours of interrogation by operatives of the Economic and Financial Crimes Commission (EFCC).

E-Money was arrested on Monday night at his residence in the Omole area of Lagos and taken to the EFCC’s office in Abuja. According to sources within the agency, his arrest was linked to alleged abuse of the Naira and defacing of foreign currencies, particularly the spraying of U.S. dollars in a way that violates the Foreign Exchange Act.

An EFCC official confirmed, “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.”

Following his release on Tuesday evening, E-Money took to his Instagram handle, @iam_emoney1, to express gratitude and reassure his followers. Posing regally in his home, he wrote: “No tension, everywhere good, I see all your love and support. God bless you all.”
A background track in the video featured the gospel song, “Thank you for saving me, thank you my Lord.”

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A post shared by Dr. E-Money (@iam_emoney1)

Fellow socialite Pascal Okechukwu, known as Cubana Chief Priest, also celebrated the development on Instagram. On his handle @Cubana_ChiefPriest, he posted:
“My brother don fall out, To God be the glory.”

As of the time of filing this report, several attempts to reach EFCC spokesperson Dele Oyewale for official confirmation of E-Money’s release had gone unanswered.