E-Money Faces EFCC Over Naira Abuse.
The Nigerian government, under the leadership of President Bola Ahmed Tinubu, has intensified efforts to combat the abuse of the Naira, with high-profile celebrities being made examples to deter others. The Economic and Financial Crimes Commission (EFCC) has been at the forefront of this campaign, arresting and prosecuting individuals who engage in the mutilation, defacing, or reckless spraying of currency notes at social events.
The crackdown gained national attention when popular cross-dresser Idris Okuneye, better known as Bobrisky, became the first celebrity to be sentenced to prison for Naira abuse. His lavish display of money-spraying at events led to his arrest and subsequent conviction, sending a strong message to the public.
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Another high-profile case involved celebrity bartender Pascal Okechukwu, popularly known as Cubana Chief Priest, who was arrested for similar offenses. However, unlike Bobrisky, Cubana Chief Priest cooperated with the EFCC and was later released, though the case served as a stern warning to others in his circle.
The latest celebrity to fall into the EFCC’s net is popular Lagos socialite and businessman Emeka Okonkwo, widely known as E-Money. He was arrested at his Lagos residence on Monday night over allegations of Naira abuse and defacing foreign currencies, particularly the US dollar. The anti-graft agency reportedly obtained video evidence of him spraying dollar notes at a social event, a violation of Nigeria’s Foreign Exchange Act.
The EFCC has stated that E-Money will be charged to court upon the conclusion of investigations. His arrest has sparked conversations about who might be next in line, with many speculating that Chief Obinna Iyiegbu (Obi Cubana) could be a potential target given his history of flamboyant spending at parties.
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The Central Bank of Nigeria (CBN) has repeatedly warned against the misuse of the Naira, emphasizing that it is not only a criminal offense but also undermines the economy. The EFCC’s recent actions align with the government’s commitment to enforcing financial laws and maintaining the integrity of the national currency.
The message is clear: no one is above the law, and reckless handling of the Naira will attract severe consequences.
E-Money Faces EFCC Over Naira Abuse.
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