Nigerian socialite, E-money has now been released, days after he made headlines for being arrested by EFCC for naira and dollar abuse.
The arrest, which happened on Monday, was a result of E-money’s recent appearance at a public event, where he was filmed spraying some naira and dollar notes.
This action by the Economic Financial Crimes Commission (EFCC) is yet another of its ongoing efforts to curb the continuous abuse of naira notes. About a year ago in April 2024, Idris ‘Bobrisky’ Okuneye had been sentenced to six months imprisonment by a Federal High Court in Lagos.
The public has continually witnessed the arrest of popular celebrities like Cubana Chief Priest, Naira Marley, Simi Gold and more recently, Afrobeats singer, Terry Apala who was remanded for the unlawful use of banknotes. According to the Central Bank of Nigeria (CBN) Act and the Criminal Code Act, anyone who is guilty of the criminal offense is “liable to imprisonment for a term not less than six months or to a fine not less than N50,000”.
Read about the Central Bank of Nigeria vows to end the naira-for-naira trade.
In E-money’s case, he was arrested for both naira abuse and defacement of foreign currencies, an offence punishable under Nigeria’s Foreign Exchange Act. Preliminary investigations following his arrest were done at Abuja, with plans to charge him to court upon the conclusion.
His release, which came after a period of intense public scrutiny and online debate, has now shifted the spotlight to the EFCC’s pattern of arrests and its effect on Nigeria’s celebrity circles. E-money, taking to his social media, shared the news.
“No tension, everywhere good, I see all your love and support. God bless you all.”
Absolutely. Here’s a short section you can insert after the second paragraph (or anywhere that flows well) to give readers context about who E-Money is:
Who is E-Money?
E-money, born Emeka Okonkwo, E-Money is a prominent Nigerian businessman, philanthropist, and socialite. He is widely known for his extravagant lifestyle and strong ties to the entertainment industry. The CEO of Five Star Group, E-Money is also the younger brother of popular Nigerian singer Kcee. Together, they have maintained a consistent presence in Nigeria’s high society and showbiz scene. His personality and deep pockets have made him a household name among Nigerian celebrities.
Diverse reactions have trailed the arrest and release of the businessman. Fellow businessman, Cubana Chief Priest wrote, “My brother don fall out, To God be the glory.” To a considerable extent, the conversation may seem to be settling for now, However, the EFCC’s actions signaled its intent to keep probing naira abuse.
If you enjoyed this article, click here to read more informative posts, also check us out on Instagram for fun and engaging content.
Disclaimer: The opinions, views, and information expressed in this article are those of the author and do not necessarily reflect the official policy, position, or views of iNaijanow. The company assumes no liability for any errors, omissions, or damages arising from the use of this information.
