Lagos Socialite E-Money Freed by EFCC Following Currency Abuse Investigation

Popular Lagos socialite Emeka Okonkwo, alias E-Money, was freed on Tuesday evening after being questioned by the Economic and Financial Crimes Commission (EFCC) over allegations of abusing the Naira and defacing foreign currency notes. The arrest occurred late Monday at his home in Omole, Lagos, and he was subsequently flown to Abuja for further questioning.

The EFCC accused E-Money of spraying US dollars during a social event, an act prohibited under Nigeria’s Foreign Exchange Act. An EFCC insider stated, “He was arrested for Naira abuse and defacing foreign currencies. The investigation is still ongoing, and charges will be filed once completed.”

E-Money took to Instagram to announce his release, posting a video with the caption, “No tension, everywhere good, I see all your love and support. God bless you all,” while a song thanking God played in the background.

Socialite Cubana Chief Priest also took to Instagram to celebrate the news, saying, “My brother don fall out, To God be the glory.”

The EFCC spokesperson, Dele Oyewale, did not respond to inquiries about the release.