Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested prominent Lagos socialite and businessman, Emeka Okonkwo Daniel, popularly known as E-Money, over alleged abuse of the Naira and defacement of foreign currencies.
The arrest, which took place on Monday night, April 28, at E-Money’s residence in the Omole area of Lagos, followed allegations that he publicly sprayed United States dollars at a social event—an act the Commission says contravenes the Foreign Exchange Act.
A source within the EFCC, who confirmed the arrest, said:
“On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed US dollars, which is against the Foreign Exchange Act.”
The source also revealed that preliminary investigations are currently ongoing, and the suspect is expected to face charges upon conclusion of the inquiry.
“He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged in court as soon as investigations are concluded,” the official added.
Another EFCC official, who spoke anonymously, disclosed that the celebrity businessman was immediately transported to Abuja for further questioning.
“Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue,” the source confirmed.
As of the time of filing this report, the EFCC is yet to release an official statement regarding the development. However, the incident adds to a growing list of high-profile figures being scrutinized over currency handling offenses in Nigeria.
E-Money, known for his flamboyant lifestyle and public display of wealth, has a large following on social media and is widely regarded as a key figure in Lagos’ elite social circle.
