- E-Money was arrested for allegedly spraying U.S. dollars at a social event
- His actions are said to violate the Foreign Exchange Act and Preliminary investigations are ongoing
- E-Money is reportedly being flown to Abuja for questioning , and this has garnered widespread reactions from netizens
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested popular Lagos socialite Emeka Okonkwo Daniel, commonly known as E-Money, for allegedly abusing the Naira and defacing foreign currencies.
The arrest took place at his residence in the Omole area of Lagos on Monday night.
According to Punch NG, a source within the commission stated that E-Money's arrest stems from a viral video that showcased him spraying American dollars during a social event.
The source declared,
"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.”
Preliminary investigations into the allegations are currently ongoing.
The source also mentioned that E-Money is being transported to Abuja for further questioning regarding the incident.
“Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue,” the source said, though they are not authorised to speak publicly about the matter.
When reached for comment, EFCC spokesperson Dele Oyewale declined to provide any details regarding the case.
The EFCC has stressed the importance of adhering to the Foreign Exchange Act, which prohibits the use of foreign currency for certain transactions in Nigeria.
Many Nigerians have expressed their opinion on the controversy surrounding E-Money's arrest.
Netizens weigh in on E-Money's arrest for money abuse
@onevalleyrichie wrote: “Nothing una wan tell me EFCC wan just collect dis man money.”
@nnamdiiobi wrote: “lol. This one no go last long for there.”
@preshy_pimp wrote: “Whatever Una do, is too late to fail,”
@eunice_babet wrote: “So Nigeria don Dey arrest for dollar abuse now.”
@aji_anje wrote: “But people have been spraying dollars since now lol.”
@nallygram231 wrote: “which one is violation of foreign exchange act.”
@nancy_Oprah wrote: “Wetin concern Nigeria and foreign currency?“
@real_tifeoluwa wrote: “toor, Na una sabi ó.”
@classiq_957 wrote: “Enh enh.”
@mykel_smyth wrote: “All of us sabi say na Honorary invite....nothing like arrest.”
@_iam_victor wrote: “Them just Dey find way to cash out since, this people sha.”
EFCC declares businesswoman Aisha Achimugu wanted for money laundering
Meanwhile, TheRadar earlier reported that EFCC declared businesswoman Aisha Sulaiman Achimugu wanted over alleged money laundering and investment fraud.
Achimugu was summoned to appear at the EFCC’s Port Harcourt office on March 25, 2025, but she did not show up.
Following her failure to appear, the EFCC obtained a warrant and officially declared her wanted.