E-Money Speaks Out After EFCC Release Over Naira Abuse Claims

• Apr 30, 2025

Nigerian billionaire and businessman Emeka Okonkwo, popularly known as E-Money, has spoken publicly for the first time since his release from the custody of the Economic and Financial Crimes Commission (EFCC). He was reportedly detained on Monday over allegations of Naira abuse and the defacement of foreign currencies during a high-profile birthday event for fellow entrepreneur Obi Cubana.

The incident, which quickly caught the public's attention, occurred at the lavish party where videos allegedly showed E-Money and others spraying cash—both Naira and foreign currency—in a manner deemed to violate Nigeria’s currency regulations. His detention by the EFCC led to a flood of reactions on social media, where many Nigerians questioned why similar actions by other celebrities had not attracted the same scrutiny.

Critics pointed to what they described as selective enforcement by the anti-graft agency. They argued that numerous public figures have publicly sprayed or mishandled cash at events, yet have not been investigated or detained, raising concerns about fairness and consistency in the agency’s operations.

Following his release, E-Money took to Instagram on Tuesday to reassure his fans and supporters. In a short video clip, he appeared calm and upbeat, thanking his followers for their concern and prayers. The video was captioned, “No tension, everywhere good, I see all your love and support. God bless you all. #itistoolatetofailamen.”

His message appeared aimed at quelling speculation and calming the nerves of his supporters who had flooded social media with messages of solidarity. Many of his followers expressed relief and joy upon seeing the post, hailing his composure and positive attitude during the episode.

The EFCC has not issued a detailed public statement about the outcome of the interrogation or whether further legal action will follow. However, the incident has reignited debates around Nigeria’s enforcement of laws against currency abuse, especially during social events where the spraying of money is a longstanding cultural display.

While the case may not be over entirely, E-Money’s return to public life has brought temporary closure to a controversy that stirred national conversation about law enforcement, wealth display, and fairness in the justice system.