E-Money released after EFCC interrogation over alleged currency abuse

Popular businessman and socialite, Emeka Okonkwo, better known as E-Money, has been released after undergoing hours of questioning by the Economic and Financial Crimes Commission (EFCC).

E-Money was arrested on Monday night at his residence in the Omole area of Lagos and subsequently taken to the EFCC headquarters in Abuja. His arrest was reportedly linked to allegations of currency abuse, specifically the spraying of U.S. dollars at social events—an act that could contravene Nigeria’s Foreign Exchange Act and regulations on currency handling.

Sources say the EFCC interrogated him extensively over the incident before granting him release on Tuesday night.

Shortly after his release, E-Money posted a video on Instagram showing himself in a lavish setting, with a caption that read: “No tension, everywhere good. I see all your love and support. God bless you all.” The video featured a gospel song with lyrics expressing gratitude: “Thank you for saving me, thank you, my Lord.”

Pascal Okechukwu, widely known as Cubana Chief Priest, also celebrated the development on Instagram, writing, “My brother don fall out, To God be the glory.”

E-Money’s encounter with the EFCC comes on the heels of a wider crackdown on naira abuse.