- The Economic and Financial Crimes Commission (EFCC) has arrested Emeka Okonkwo Daniel, also known as E-Money, for allegedly abusing the Naira and defacing foreign currency.
- EFCC operatives reportedly picked up E-Money at his residence in Omole, Lagos, on Monday night.
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested well-known Lagos businessman and socialite, Emeka Okonkwo Daniel, popularly called E-Money, over alleged Naira abuse and defacement of foreign currencies.
E-Money was reportedly taken into custody by EFCC agents at his Omole residence in Lagos on Monday night.
According to sources within the commission, the arrest is tied to allegations that E-Money violated the Foreign Exchange Act by spraying U.S. dollars at social gatherings, an act deemed unlawful under Nigerian financial regulations.
“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 contravenes the Foreign Exchange Act,” one source said. “He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court once the investigation is concluded.”
Another insider confirmed that E-Money is being transported to Abuja for further interrogation.
“Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue,” the source said, requesting anonymity as they were not authorized to speak publicly.
As of the time of filing this report, EFCC spokesperson Dele Oyewale has yet to issue an official statement on the matter.
