Lagos Socialite E-Money Released After EFCC Interrogation Over Naira Abuse

Popular Lagos socialite and businessman, Emeka Okonkwo, widely known as E-Money, was released on Tuesday evening after being questioned by the Economic and Financial Crimes Commission (EFCC) over alleged abuse of the Naira and defacement of foreign currency.

E-Money was picked up by EFCC operatives on Monday night at his Omole residence in Lagos and taken to the commission’s Abuja office for interrogation. The arrest followed allegations that he had publicly sprayed U.S. dollars—an act prohibited under the Foreign Exchange Act.

A source within the EFCC confirmed the arrest, stating, “On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. He allegedly sprayed U.S. dollars in public, which violates the law. Preliminary investigations are ongoing and he will be charged to court once the process is complete.”

However, on Tuesday evening, E-Money appeared to confirm his release via his Instagram handle, @iam_emoney1, where he shared a video from what looked like his home. In the post, he thanked his supporters, saying, “No tension, everywhere good, I see all your love and support. God bless you all.” The video was accompanied by the gospel song, “Thank you for saving me, thank you my Lord.”

In a show of solidarity, fellow celebrity and nightlife promoter Pascal Okechukwu, popularly known as Cubana Chief Priest, also took to Instagram to celebrate E-Money’s return. “My brother don fall out, To God be the glory,” he wrote via his handle, @cubana_chiefpriest.

Attempts to get official confirmation from EFCC spokesperson, Dele Oyewale, were unsuccessful as calls and messages went unanswered at the time of filing this report.