By Peter Omopo
Lagos, April 29, 2025 — Popular Lagos socialite and businessman, Emeka Okonkwo, popularly 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 currencies.
E-Money was picked up by EFCC operatives at his Omole residence in Lagos late Monday and taken to the commission’s headquarters in Abuja for questioning. The arrest stemmed from allegations that he had sprayed United States dollars at a public event, a violation of Nigeria’s Foreign Exchange Act.
An EFCC official who spoke anonymously confirmed that E-Money’s arrest was part of ongoing efforts to clamp down on currency abuse, particularly among high-profile individuals. “Preliminary investigations are ongoing, and he will be charged to court upon conclusion of the probe,” the official stated.
Following his release, E-Money took to Instagram to announce his return, sharing a video with gospel music playing in the background and a message that read: “No tension, everywhere good. I see all your love and support. God bless you all.”
Reactions to his release poured in on social media, with fellow socialite Pascal Okechukwu, also known as Cubana Chief Priest, celebrating the development. “My brother don fall out, to God be the glory,” he wrote on Instagram.
As of press time, EFCC spokesperson Dele Oyewale had yet to respond to multiple calls and messages seeking official confirmation of the socialite’s release.
The commission has intensified its crackdown on currency abuse in recent months, warning celebrities and event attendees against spraying or defacing the Naira and foreign currencies.
