By Adenike Lawal
Popular businessman Emeka Okonkwo, better known as E-Money, has been arrested by the Economic and Financial Crimes Commission over alleged naira abuse and suspected money laundering.
The socialite, famed for his lavish spending and celebrity connections, was taken into custody earlier today at his Omole residence in Lagos and transferred to the EFCC headquarters in Abuja for interrogation.
Sources at the commission say the arrest follows viral footage showing E-Money spraying wads of naira and foreign currency at a recent event—an act deemed a violation of Nigeria’s Central Bank Act.
Officials also hinted at a wider probe into his financial dealings.
While the EFCC has not released an official statement, the agency has recently stepped up actions against individuals who flaunt the naira in public, vowing to protect the nation’s currency and financial integrity.
E-Money remains in custody as investigations continue. His legal team is yet to respond, and formal charges have not been announced.
