Breaking: EFCC arrests E-Money over abuse of Naira

The Economic and Financial Crimes Commission (EFCC) have arrested popular billionaire, Emeka Okonkwo Daniel, professionally known as E-Money, over alleged abuse of the Nigerian currency.

According to reports, E-Money was picked up by EFCC operatives on Monday night at his residence in the Omole area of Lagos. Sources within the commission confirmed on Tuesday that the flamboyant businessman was arrested for allegedly spraying United States dollars at public events—an act believed to contravene the Foreign Exchange Act.

One of the sources said, “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.”

Another source who confirmed his arrest to our correspondent stated that E-Money is currently being flown to Abuja for questioning.

The source, who is not authorised to speak to the press, said, “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue.”

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