E-Money

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested renowned businessman, Emeka Okonkwo, better known as E-Money, for allegedly abusing the Naira note.

According to available information, the popular Lagos socialite was arrested on Monday night at his residence in the Omole area.

Sources within the commission on Tuesday said E-Money was arrested for allegedly spraying United States dollars, an act said to be in violation of 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.”

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

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