Operatives from the Economic and Financial Crimes Commission, EFCC,  have arrested popular Lagos socialite and businessman, Emeka  Daniel, popularly called E-Money, for allegedly misusing the Naira notes.

Sources within the commission said that the socialite is facing allegations of Naira abuse and the defacement of foreign currencies, linked to his alleged act of spraying US dollars—an offence under Nigeria’s Foreign Exchange Act.

The alleged currency spraying reportedly took place at a social event in Lagos, although specific details of the occasion remain undisclosed.

The EFCC stated it has commenced preliminary investigations and plans to charge E-Money to court upon conclusion of its inquiry.