A Lagos-based socialite, Emeka Okonkwo Daniel (more commonly known as E-Money), has been arrested by operatives of the Economic and Financial Crimes Commission for allegedly abusing the Naira notes.
Reports suggested that the suspect was arrested on Monday night at his residence in the Omole area of Lagos State.
Sources within the commission on Tuesday said E-Money was arrested for allegedly spraying United States dollars, an act said to violate the Foreign Exchange Act.
“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,” a source from the commission was quoted by PUNCH.
“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 who confirmed his arrest stated that E-Money is currently being flown to Abuja for questioning.
The source, who is not authorised to speak to the press, said, “Yes, he has been arrested and is being flown to Abuja as I speak, to face investigators on the issue.”
This is coming barely four days after the Federal High Court sitting in Lagos ordered the remand of hip-hop musician Terry Alexander Ejeh, more commonly known as “Terry Apala,” in the Ikoyi Correctional Centre, Lagos, until his bail application is heard and determined.
The Economic and Financial Crimes Commission (EFCC) arraigned Ejeh before Justice Akintayo Aluko on a one-count charge of abuse of the naira by matching on the naira notes whilst dancing during a social event at Madison Place, Oniru, Lagos Island.
The EFCC counsel, Sulaimon Sulaiman, informed the court about the pendency of a charge pressed against the defendant and urged the court to order that the charge be read so that the defendant could take his plea.
The defendant however pleaded not guilty to the charge, consequent upon which Sulaimon asked for a trial date and the remand of the defendant in the custody of the facility of the Nigerian Correctional Centre.
However, counsel to Ejeh, Felix Nwakbudu informed Justice Aluko of a pending bail application filed on behalf of the defendant.
Nwakbudu stated that the prosecution had been served with the copy of the bail summon and pleaded with the court to allow him to move the application.
