The Economic and Financial Crimes Commission (EFCC) has taken socialite Emeka Okonkwo, popularly known as E-Money, into custody over allegations of naira abuse.
E-Money, CEO of Emmy Cargoes Nigeria Limited and Five Star Music, was apprehended in Lagos and subsequently transferred to the EFCC’s Abuja office.
According to reports, the arrest stems from an incident where E-Money allegedly sprayed naira and US dollar bills at a public event, potentially violating Nigeria’s Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.
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This development is part of the EFCC’s ongoing efforts to combat naira abuse.
Recently, singer Terry Apala was remanded over similar allegations.
As of now, the EFCC has not issued an official statement on E-Money’s arrest.