The Economic and Financial Crimes Commission (EFCC) has arrested flamboyant businessman and entertainment mogul Emeka Okonkwo Daniel, popularly known as E-Money, for alleged abuse of both the Naira and U.S. Dollar currencies.
EpeInisights gathered that E-Money was apprehended late Monday night at his upscale residence in Omole, Lagos.
He is accused of violating Nigeria’s Foreign Exchange Act by allegedly spraying U.S. dollar bills at a public event, a practice that has come under increasing scrutiny by regulatory bodies in recent months.
“Yes, he has been arrested, a source at the commission disclosed, revealing that he had been transported to Abuja where further investigations will be conducted.”
The EFCC has not yet issued a formal public statement regarding the arrest, but officials say charges will be filed once preliminary investigations are concluded.
Known for his luxurious lifestyle and generosity at public functions, E-Money is a key figure in Nigeria’s entertainment and logistics sectors.
His arrest has sparked conversations online about the intersection of wealth display, legal boundaries, and the state’s tightening grip on financial conduct.
This comes amid a wave of similar crackdowns by the anti-graft agency targeting high-profile individuals for currency-related offenses.
