April 29, (THEWILL) – Operatives of the Economic and Financial Crimes Commission have reportedly arrested Lagos-based businessman and socialite, Emeka Okonkwo, popularly known as E-Money, over alleged abuse of the Nigerian currency and violation of the Foreign Exchange Act.
Though the EFCC is yet to officially confirm the arrest, sources within the agency said E-Money was picked up late Monday night at his residence in the Omole area of Lagos.
His arrest is said to be linked to allegations of spraying U.S. dollars at a recent social event—an act considered illegal under Nigerian financial laws designed to protect the integrity of the naira and foreign currencies.
Following his arrest, E-Money was reportedly flown to Abuja on Tuesday morning for further interrogation by EFCC investigators.
He is the latest in a string of high-profile individuals to come under the commission’s scrutiny amid a renewed clampdown on naira mutilation and currency-related offenses.
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