Popular businessman Emeka Okonkwo Daniel, also known as E-Money, has been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly abusing the naira and defacing foreign currencies. The arrest took place on Monday night at his residence in the Omole area of Lagos, following a viral video showing him spraying American dollars at a social event, which is a violation of the Foreign Exchange Act.

Reports indicate that E-Money is being flown to Abuja for further interrogation, although the EFCC has not officially confirmed the arrest. Preliminary investigations are ongoing, and he is expected to be charged to court once the probe is completed. Verydarkman (VDM), a social media personality, reacted to the arrest, alleging that 50 men stormed E-Money's residence and took him to the EFCC office. VDM claimed that E-Money was detained for allegedly stepping on naira notes at Obinna Iyiegbu's (Obi Cubana) 50th birthday party.

VDM accused the EFCC of tribalism, questioning why Okoya's children were not arrested for similar offenses. He also warned other celebrities about potential EFCC scrutiny, suggesting that the agency might be targeting them. VDM further claimed that the new EFCC boss was the same person he had previously accused of having connections with Mercy Chinwo.

News of E-Money’s arrest has triggered mixed reactions on social media. Some Nigerians expressed confusion over the arrest for spraying dollars, while others wondered how the EFCC planned to balance the crackdown on naira abuse with the cultural practice of spraying money at parties. Some suggested that the arrest was a tactic to get E-Money to support the ruling political party, APC, similar to Cubana Chief Priest.

In related news, Terry Apala, a singer, was remanded at the Ikoyi correctional centre for alleged naira abuse, and TikToker Murja Ibrahim Kunya was rearrested in Kano for the same offense. The EFCC has intensified its crackdown on naira abuse, citing section 21 of the CBN Act, leading to the arrest and jailing of social media celebrity Bobrisky in April 2024. Socialite Cubana Chief Priest has also been arraigned on similar charges. Verydarkman also posted photos online to draw the attention of the EFCC, sharing images of himself and a friend tossing money during a night out.