Nigerian businessman and socialite Emeka Okonkwo, widely known as E-Money, has been released by the Economic and Financial Crimes Commission (EFCC) after a prolonged interrogation over alleged currency abuse.
E-Money was reportedly apprehended by EFCC operatives on Monday night at his residence in Omole, Lagos, and taken to their Abuja office. The investigation centered on his alleged violation of Nigeria’s Foreign Exchange Act, following reports that he was seen spraying U.S. dollars at a public event — a practice now under increased scrutiny by the anti-graft agency.
The EFCC confirmed that the probe aligns with Section 21 of the Central Bank of Nigeria (CBN) Act, which prohibits the defacing or misuse of both naira and foreign currency. The move is part of the commission’s intensified efforts to enforce currency regulations and uphold the financial integrity of the country.
Following his release on Tuesday evening, E-Money posted a calm video on Instagram, thanking his supporters. “No tension, everywhere good. I see all your love and support. God bless you all,” he wrote, accompanied by a gospel track expressing gratitude.
As of now, the EFCC has not disclosed whether formal charges will be filed. E-Money remains a notable figure in Nigeria’s business and entertainment scene, known for his opulent lifestyle and charitable works.
