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Lagos socialite, Emeka Okonkwo Daniel, also known as E-Money, has been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly misusing the Naira and violating the Foreign Exchange Act.
The arrest occurred on Monday night at his residence in the Omole area of Lagos.
Sources within the EFCC revealed that E-Money’s arrest stemmed from an incident where he reportedly sprayed U.S. dollars, an act that is prohibited under Nigerian currency regulations.
The Foreign Exchange Act prohibits the defacing or misuse of foreign currency in public settings, including the act of spraying it at events.
An EFCC source confirmed the arrest and disclosed that the socialite was being transported to Abuja for further questioning. Investigations are underway, and he is expected to face charges in court once the inquiry is concluded.
E-Money’s arrest has raised concerns about the growing disregard for currency regulations in the country, especially among high-profile individuals.
The EFCC has yet to comment officially on the arrest, but the incident has drawn significant attention, considering the socialite’s prominence in Lagos.
His alleged actions have sparked discussions on the broader issue of currency abuse and its potential consequences for individuals engaging in such activities.
E-Money is known for his lavish lifestyle, frequently showcasing wealth on social media.
His arrest serves as a reminder of the legal risks that come with flaunting money in ways that may violate Nigerian financial laws.
It is expected that more details will emerge as investigations continue, shedding light on the full scope of the charges against him.
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