The Economic and Financial Crimes Commission (EFCC) has arrested popular Lagos socialite Emeka Okonkwo Daniel, widely known as E-Money, over alleged abuse of the Naira and defacing of foreign currency.
According to sources, the arrest occurred on Monday night at his residence in the Omole area of Lagos. The EFCC accuses him of violating the Foreign Exchange Act by spraying U.S. dollars—an action the commission considers illegal.
One source within the agency disclosed, “On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed U.S. dollars, which is against the Foreign Exchange Act.
“He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”
Another source who confirmed his arrest to our correspondent stated that E-Money is currently being flown to Abuja for questioning.
The source, who is not authorised to speak to the press, said, “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue.”
EFCC spokesperson Dele Oyewale declined to provide comments when contacted regarding the arrest.
What you should know
E-Money, a well-known figure in Lagos social circles, was arrested by the EFCC for allegedly spraying U.S. dollars—an act deemed unlawful under Nigeria’s currency laws.
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