Popular Nigerian socialite, Emeka Okonkwo, also known as E-Money, has been released on bail by the Economic and Financial Crimes Commission (EFCC) following his arrest over alleged abuse of the naira.
A source within the EFCC, who requested anonymity, confirmed to judiciary correspondent Shola Soyele that E-Money was granted bail on Tuesday and is expected to face formal charges in court soon.
E-Money was reportedly arrested in the Omole area of Lagos and later transferred to the EFCC headquarters in Abuja.
His arrest followed allegations that he was seen at a public gathering where he allegedly sprayed both naira and U.S dollar bills — actions said to be in violation of Nigeria’s Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.
As at the time of this report, the EFCC has not issued an official statement regarding his arrest.
