Lagos socialite cum music executive, Emeka Okonkwo, better known as E-Money, has reportedly been released from the custody of the Economic and Financial Crimes Commission (EFCC).
Naija News reports that the EFCC arrested E-Money over allegations of abusing the Naira note and defacing foreign currencies.
According to sources within the commission, E-Money was taken into custody on Monday night at his residence in the Omole area of Lagos.
The arrest follows allegations that the socialite was involved in the illegal act of spraying United States dollars, an activity that allegedly violates the Foreign Exchange Act.
In a post on Instagram on Tuesday night, celebrity barman Pascal Okechukwu, better known as Cubana ChiefPriest, announced that E-Money has been released.
Meanwhile, Nigerian singer Kingsley Okonkwo, also known as Kcee, has disclosed that he achieved financial success before his younger brother, Emeka Okonkwo, aka E-Money.
According to the singer, his billionaire businessman used to be his manager, but now has more money than him.
Kcee disclosed this during a recent appearance on the Tea With Tay podcast. He stated that he was among those who sponsored E-Money’s wedding.
He reflected that if he had channelled the same level of dedication to business as he did to music, he would have been richer
