Popular Lagos socialite Emeka Okonkwo, who is also known by his nickname E-Money, has been released from the custody of the Economic and Financial Crimes Commission (EFCC) after being held for questioning. His release happened on Tuesday evening, following hours of interrogation over claims of Naira abuse and mishandling of foreign currencies.
E-Money was taken into custody late Monday night. According to sources within the EFCC, officials picked him up at his home located in the Omole area of Lagos. He was then transported to the EFCC headquarters in Abuja for further questioning.
An EFCC official who spoke about the matter noted, “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.”
The accusation relates to public display and spraying of foreign money, particularly U.S. dollars, during social events — a practice that goes against Nigeria’s financial laws. The law frowns upon this type of currency abuse as it is seen as disrespectful to national and foreign currencies.
After gaining his freedom, E-Money returned to social media to connect with his fans. Posting a short video on his Instagram page, @iam_emoney1, he appeared calm and thankful. In his caption, he wrote: “No tension, everywhere good, I see all your love and support. God bless you all.” The video was accompanied by a gospel tune playing in the background, with lyrics that said, “Thank you for saving me, thank you my Lord.”
Meanwhile, his close friend and fellow celebrity Pascal Okechukwu, known widely as Cubana Chief Priest, also took to Instagram to share his joy. Using his handle @Cubana_ChiefPriest, he posted: “My brother don fall out, To God be the glory.”
