Untold Reason EFCC Arrested Lagos Socialite E-Money At Night

Popular Lagos socialite and businessman, Emeka Okonkwo, popularly known as E-Money, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged abuse of the Naira and defacing of foreign currency.

Sources close to the development revealed that the billionaire entertainment mogul, who is also the younger brother of popular singer KCee, was picked up at his luxurious residence in the Omole area of Lagos on Monday night.

According to EFCC insiders, E-Money’s arrest stems from allegations that he was seen in viral videos spraying U.S. dollars at public events — an act said to violate provisions of the Foreign Exchange Act, which prohibits the misuse and defacing of foreign currencies.

“Yes, we arrested E-Money on Monday night for Naira abuse and the unlawful spraying of foreign currencies, particularly U.S. dollars,” a source at the commission revealed. “He was taken into custody at his residence in Omole. Preliminary investigations are ongoing, and once concluded, he will be formally charged to court.”

Another official confirmed that E-Money is currently being transported to the EFCC headquarters in Abuja for further interrogation.

As of the time of this report, neither E-Money nor his representatives have issued an official statement regarding the arrest.
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