E-Money Regains Freedom After EFCC Interrogation Over Alleged Currency Misuse

After a brief stint in custody, Lagos socialite and businessman Emeka Okonkwo, widely known as E-Money, was released on Tuesday evening following hours of interrogation by the Economic and Financial Crimes Commission (EFCC).

The popular figure was taken into custody late Monday at his residence in the Omole area of Lagos and subsequently transferred to the EFCC’s headquarters in Abuja. His arrest was reportedly linked to allegations of currency abuse—specifically, the mishandling of the Nigerian Naira and defacing of foreign currencies, including the U.S. dollar.

However, by Tuesday evening, E-Money took to his Instagram page (@iam_emoney1) to assure fans and supporters that all was well. In a video posted from what appeared to be his home, he stood regally and wrote, “No tension, everywhere good. I see all your love and support. God bless you all.” The message was accompanied by a gospel song playing in the background: “Thank you for saving me, thank you my Lord.”

Although EFCC spokesperson Dele Oyewale did not respond to calls and messages for confirmation at the time of reporting, fellow celebrity and nightlife promoter Pascal Okechukwu, known as Cubana Chief Priest, also took to Instagram to celebrate the release of his friend. “My brother don fall out, To God be the glory,” he posted via his handle @cubana_chiefpriest.

EFCC sources confirmed the arrest was tied to E-Money’s alleged public spraying of U.S. dollars—an action considered a violation of Nigeria’s Foreign Exchange Act. The source noted that investigations were still ongoing and hinted at possible legal proceedings.

As the story continues to unfold, many Nigerians on social media have voiced mixed reactions—some defending the flamboyant businessman, others calling for stricter enforcement of currency laws.

By WafricNews Desk | April 29, 2025