EFCC arrests E-Money for ‘naira abuse, dollar spraying’

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested  popular businessman E-Money over allegations of naira abuse and defacement of foreign currencies.


The socialite, born Emeka Okonkwo Daniel, was arrested at his Omole, Lagos residence in the late hours of Monday.

E-Money’s arrest was said to have stemmed from a viral video showing him spraying American dollars at a social event, an act that violates the Foreign Exchange Act.

An EFCC insider revealed that preliminary investigations are ongoing, and he will be charged to court as soon as the probe is concluded.

When contacted, Dele Oyewale, EFCC spokesperson, declined to comment on the matter.

However, sources within the commission disclosed that the socialite is being flown to Abuja to face further interrogation.

The socialite’s arrest comes a few days after Terry Apala, the singer, was remanded at the Ikoyi correctional centre over alleged abuse of naira notes.


In March, Murja Ibrahim Kunya, a TikToker, was rearrested in Kano for allegedly abusing the naira.

In 2024, the EFCC intensified its crackdown on naira abuse, citing section 21 of the CBN Act.

Bobrisky, the social media celebrity, was arrested by the commission in Lagos on April 4, 2024, for defacing naira notes. The crossdresser was jailed on a six-count charge.

Socialite Cubana Chief Priest was also arraigned for a three-count charge over alleged naira abuse.