The Economic and Financial Crimes Commission (EFCC) has granted bail to popular Nigerian businessman and socialite, Emeka Okonkwo, widely known as E-Money, following his recent arrest for alleged naira abuse.
E-Money Released, Faces Imminent Court Charges
A source within the EFCC confirmed to Channels Television on Tuesday that E-Money had been released but will soon face charges in court. The anti-graft agency arrested him earlier the same day in the Omole area of Lagos and transported him to Abuja for questioning.
Allegations of Currency Abuse
Authorities allege that E-Money violated the Foreign Exchange Act by spraying naira and US dollar bills at a recent public event. The act, deemed a criminal offense, has drawn increased scrutiny as part of the EFCC’s ongoing crackdown on currency abuse in Nigeria.
EFCC Intensifies Crackdown on Naira Misuse
The EFCC has recently intensified efforts to enforce laws against defacing the naira, targeting public figures and celebrities who openly violate these provisions at social events.
