Socialite E-money Arrested by EFCC for Spraying Dollars, Gets Flown to Abuja for Questioning
- Nigerian socialite E-Money has reportedly been arrested by the Economic and Financial Crimes Commission
- According to reports, E-Money was picked up by EFCC operatives on the night of April 28, 2025, for allegedly abusing the naira and foreign currencies
- News of E-Money’s arrest went viral on social media, and it triggered a series of reactions from concerned Nigerians
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Nigerian socialite Emeka Okonkwo, aka E-Money, has reportedly been arrested by operatives of the Economic and Financial Crimes Commission (EFCC).
In the late hours of Monday, April 28, 2025, E-Money was arrested in his home in Omole, Lagos, after he allegedly abused the naira.
Source: Instagram
According to reports from Punch, sources within the EFCC disclosed that E-Money, who is the younger brother of Nigerian singer, Kingsley Okonkwo aka KCee, was arrested for allegedly praying US dollars, an act said to go against the Foreign Exchange Act.
The source said:
“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.
“He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”
Another source disclosed that E-Money was flown to Abuja for questioning after his arrest.
Source: Instagram
Reactions as E-Money gets arrested
News of E-Money’s arrest after allegedly spraying dollars was met with mixed reactions from Nigerians.
It is no news that many Nigerian socialites avoid getting apprehended for naira abuse by spraying foreign currencies at parties. Some netizens dropped their hot takes about E-Money's arrest on social media.
Seyi expressed confusion over E-Money getting arrested for spraying dollars:
Sammy said the EFCC seemed serious about clamping down on naira abuse and wondered how they planned to balance that with the culture of spraying in Nigeria:
Sam ED said it was a technique to get E-Money to start supporting APC like Cubana Chiefpriest:
Chriseddy said E-Money would be released within hours:
Prince claimed the EFCC was only trying to make money from E-Money:
Displays of wealth often suggest criminal activities - Lawyer
May Edochie's lawyer, Emeka Ugwuonye, of DPA Family Law Clinic, has reacted to billionaire E-Money's arrest by the EFCC.
He claimed that the socialite's arrest implies that there's more at play than simply mishandling currency.
Talking about it, he said:
"This sparks a critical question: How many of our wealthy peers can genuinely withstand legal scrutiny? While I can’t comment specifically on E-Money, it’s worth noting that ostentatious displays of wealth often suggest potential involvement in criminal activities. Many individuals flaunt their riches without fear of repercussions, sometimes due to connections with powerful figures in government. But remember, when those protective alliances crumble, law enforcement will swoop in."
He advised people to keep an eye on the socialite's arrest, sharing his expectation he said he expect that there will be a settlement and some individuals will benefit from it.
Warning others, he said:
"This serves as a grim reminder: in Nigeria, you don’t have to commit a crime to be targeted. Conversely, those with the right connections can evade justice regardless of their actions. It’s a dangerous reality we must confront."
Read his full reaction here:
VDM shares video of him spraying money
Meanwhile, Legit.ng earlier reported that Nigerian social media commentator Verydarkman (VDM), whose real name is Martins Otse, posted photos online to draw the attention of the EFCC.
The activist shared images of himself and his close friend Kokopee intentionally tossing money during a night out in Jos, Plateau state.
VDM identified the location of the incident as Chillers By New Yorker and boldly tagged the Economic and Financial Crimes Commission in the post, seemingly drawing their attention to his actions. Known for bragging about his integrity and claiming he’s untouchable by the anti-graft commission, the TikToker referenced the case of Nigerian billionaire Razaq Okoya's family with the EFCC in his post.
Recall that two of the billionaire's sons had posted videos of themselves spraying crisp naira notes in their home with the help of their police bodyguards.
Sola Sanusi, HOD of the Entertainment Desk, contributed to this article. She added the reaction of a lawyer, Emeka Ugwuonye, to E-Money's arrest.
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Proofreading by Nkem Ikeke, copy editor at Legit.ng.
Source: Legit.ng
