The Economic and Financial Crimes Commission (EFCC) has granted bail to popular Nigerian socialite, Emeka Okonkwo, widely known as E-Money, following his arrest on allegations of currency abuse. A reliable source within the anti-graft agency, who spoke anonymously to judiciary correspondent Shola Soyele, confirmed via phone that E-Money was released on Tuesday but is expected to be arraigned in court soon.
E-Money was apprehended earlier on the same day in the Omole area of Lagos State and was subsequently transported to EFCC’s headquarters in Abuja. His arrest stems from accusations of naira abuse, following viral footage allegedly showing him spraying the Nigerian currency and U.S. dollar bills at a public event—an act said to contravene the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act of Nigeria.
As of now, the EFCC has not issued an official statement regarding the incident, but this development aligns with its recent clampdown on individuals abusing the national currency. Just days ago, Nigerian singer Terry Apala was remanded for a similar offence involving the alleged mishandling of naira notes.
In a related development, the EFCC has also arrested another socialite, Aisha Achimugu, at the Nnamdi Azikiwe International Airport in Abuja around 5 a.m. on Tuesday. She had just returned from London. The agency had declared Achimugu wanted in March on suspicions of criminal conspiracy and money laundering.
Her legal counsel, Chikaosolu Ojukwu (SAN), confirmed the arrest and criticized the EFCC’s actions as a breach of a court order. Ojukwu explained that Achimugu voluntarily returned to Nigeria to comply with a court directive but was apprehended upon arrival. In response to the arrest, she has reportedly begun a hunger strike to protest what her lawyer described as a violation of her fundamental human rights, calling her a “prisoner of conscience.”
This arrest came just a day after Justice Inyang Ekwo of the Federal High Court in Abuja ordered Achimugu to present herself before both the EFCC and the court.
