The Economic and Financial Crimes Commission (EFCC) has granted bail to Nigerian businessman and socialite Emeka Okonkwo, popularly known as E-Money, after his arrest over allegations of currency abuse.
E-Money was apprehended late Monday night, April 28, at his residence in the Omole area of Lagos and subsequently transferred to the EFCC headquarters in Abuja.
He is accused of spraying the naira and United States dollars at a public event, which reportedly violates Nigeria’s Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.
Following his release, E-Money shared a video update on Instagram, appearing relaxed at home with a gospel song playing in the background.
He captioned the post, “No tension, everywhere good. I see all your love and support. God bless you all.”
His associate, fellow socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, also expressed joy over the release, writing on Instagram, “My brother don fall out. To God be the glory.”
The EFCC has intensified its clampdown on individuals involved in the abuse of the naira. Just days prior, singer and rapper Terry Apala was remanded in custody for a similar offense.
He joins a growing list of entertainers and public figures under investigation for currency-related violations.