The Economic and Financial Crimes Commission, EFCC, has released music executive and businessman Emeka Okonkwo, popularly known as E-Money on administrative bail following his arrest over alleged abuse of the Naira.
The socialite was invited by the EFCC after viral videos surfaced online showing him spraying bundles of Naira notes at a public event, a practice prohibited by Nigerian financial regulations.
In a brief statement released by the EFCC on Tuesday, the agency confirmed that E-Money had been questioned and was cooperating with ongoing investigations.
READ ALSO: EFCC arrests E-Money over Naira abuse
“Mr. Emeka Okonkwo was released on administrative bail after he provided useful information to investigators regarding the viral incidents. The investigation is ongoing,” the statement read.
Sources within the EFCC said the agency is committed to enforcing laws regarding the integrity of the Naira, particularly in the context of social events and celebrity conduct.
E-Money, known for his flamboyant lifestyle and philanthropy, has yet to make a public statement since his release.
Crediblenewsng.com
