E-Money released by EFCC after questioning over naira abuse allegations

Popular Lagos socialite E-Money has been released by the EFCC after being questioned regarding alleged Naira abuse and the defacing of foreign currencies

[dropcap]P[/dropcap]opular Lagos socialite Emeka Okonkwo, known as E-Money, was reportedly released on Tuesday evening by the Economic and Financial Crimes Commission (EFCC) after being interrogated for several hours.

Also read: EFCC arrests music executive E-Money over naira abuse, currency defacing allegations

His arrest on Monday night at his Lagos residence followed allegations of Naira abuse and the defacing of foreign currencies, specifically the spraying of United States dollars, which is said to contravene the Foreign Exchange Act.

Sources within the EFCC indicated that E-Money’s arrest at his Omole residence in Lagos led to his transfer to the commission’s Abuja office for questioning.

An EFCC official confirmed the arrest, stating, “On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies.

No tension, everywhere good, I see all your love and support. God bless you all,” – E-Money via his Instagram.

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.”

Following his release, E-Money took to his Instagram account, @iam_emoney1, to express his gratitude and reassure his followers, posting a picture of himself with the caption, “No tension, everywhere good, I see all your love and support.