EFCC Arrests Socialite E-Money for Alleged Naira Abuse, Transfers Him to Abuja for Investigation

Abuja, Nigeria — The Economic and Financial Crimes Commission (EFCC) has arrested Nigerian socialite and businessman Emeka Okonkwo, popularly known as E-Money, for alleged abuse of the Nigerian currency. The arrest occurred on Monday, April 28, 2025, in Lagos, with E-Money subsequently transferred to the EFCC headquarters in Abuja for further questioning.

According to EFCC sources, the arrest is linked to viral videos circulating on social media that purportedly show E-Money spraying naira notes at a recent public event, an act considered a violation of Nigeria's currency laws. The Central Bank of Nigeria Act prohibits the mutilation, defacing, or spraying of the naira, classifying such actions as punishable offenses.

This incident follows a series of similar cases involving public figures. In April 2024, Nigerian internet personality Bobrisky was arrested and sentenced to six months in prison without the option of a fine for naira abuse after videos showed her spraying money at a film premiere.

The EFCC has intensified its crackdown on naira abuse, emphasizing the importance of upholding the sanctity of the national currency. E-Money's arrest underscores the agency's commitment to enforcing financial regulations, regardless of an individual's social status.

As of the time of this report, E-Money remains in EFCC custody in Abuja. Further details regarding the investigation and potential charges are expected to be released in due course.

Note: This article is based on available information as of April 29, 2025. Updates will be provided as more details emerge.