Business mogul and Lagos socialite, Emeka Okonkwo, popularly known as E-Money, has been released by the Economic and Financial Crimes Commission (EFCC) following hours of interrogation over alleged currency abuse and violation of foreign exchange laws.
E-Money was arrested late Monday at his residence in the Omole area of Lagos and subsequently taken to the EFCC headquarters in Abuja. The commission accused him of spraying U.S. dollars at public events, an act considered a breach of the Foreign Exchange Act, as well as abuse of the Naira.
An EFCC official who spoke on condition of anonymity said, “He was arrested for allegedly spraying dollars in public, which is against Nigeria’s foreign currency regulations. Investigations are still ongoing, and he may face prosecution depending on the outcome.”
Despite the commission’s silence on his status, E-Money confirmed his release on Tuesday evening through a post on his Instagram page, @iam_emoney1. In a video that showed him seated regally, the socialite wrote: “No tension, everywhere good. I see all your love and support. God bless you all.” A gospel tune, “Thank you for saving me, thank you my Lord,” played in the background.
Fellow celebrity and nightlife promoter, Cubana Chief Priest, also celebrated the development. Posting via his Instagram handle, @cubana_chiefpriest, he wrote: “My brother don fall out. To God be the glory.”
As of press time, multiple attempts to reach EFCC spokesperson Dele Oyewale for official confirmation were unsuccessful.
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