EFCC arrests money for alleged naira abuse

Operatives from the Economic and Financial Crimes Commission (EFCC) have arrested Lagos socialite Emeka Okonkwo Daniel, also known as E-Money, on charges of misusing the Naira note and defacing foreign currencies.

According to EFCC insiders, E-Money was detained on Monday night at his residence in the Omole area of Lagos. The arrest is linked to allegations that he engaged in the illegal practice of spraying United States dollars, an act that purportedly breaches the provisions of the Foreign Exchange Act.

An EFCC source informed Punch that, “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.” The source added that preliminary investigations are currently underway and that charges will be filed in court once the probe is completed.

Another anonymous source confirmed to Punch that E-Money is being transferred to Abuja for further questioning regarding the case, stating, “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue.”