Operatives of the Economic and Financial Crimes Commission (EFCC) on Monday night arrested Lagos socialite Emeka Okonkwo Daniel, popularly known as E-Money, over alleged abuse of the Naira and defacing of foreign currency.
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The arrest took place at his residence in the Omole area of Lagos State.
According to sources familiar with the matter, E-Money is accused of spraying United States dollar and Pounds bills at social events, which is considered a breach of the law under the Foreign Exchange Act.
Following his arrest, he was reportedly taken to Abuja for further questioning by EFCC investigators.
Officials within the anti-graft agency confirmed on Tuesday that the arrest followed ongoing monitoring of public acts involving currency abuse.
Investigations into the case are still ongoing, and the agency has stated that E-Money will be charged in court once the inquiry is completed.
This development comes shortly after the EFCC also brought charges against musician Terry Alexander Ejeh, known as Terry Apala.
The artiste was arraigned before a Federal High Court in Lagos for allegedly stepping on Naira notes while dancing at a party held at Madison Place, Oniru, Lagos Island.
The EFCC filed a one-count charge against Terry Apala, and he pleaded not guilty during his appearance before Justice Akintayo Aluko.
His lawyer, Felix Nwakbudu, informed the court of a pending bail application, while the EFCC’s legal team requested that the defendant be remanded until trial begins.
The court ordered that he remain in the custody of the Ikoyi Correctional Centre while the bail application is considered.
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