Nigerian businessman and billionaire, Emeka Okonkwo, better known as E-Money, has taken to social media to speak out against the abuse of the Naira, particularly the practice of spraying the currency at parties and events.
In an Instagram post, E-Money emphasized that such actions are illegal and called on Nigerians to celebrate responsibly, respect the nation’s currency, and avoid facing penalties.
He shared a message reminding his followers that the Economic and Financial Crimes Commission (EFCC) had already issued a warning that spraying Naira or any other currency at public events is against the law. E-Money urged Nigerians to avoid actions that could lead to fines by making sure they place money in a basket, bowl, or container in front of the person they are giving the money to, instead of scattering or spraying it on the floor.
Attention! The EFCC reminds us that spraying Naira (or any currency) at parties or events is against the law! Let’s celebrate responsibly and avoid fines. Respect our currency!” he stated. “If you must give money at a party, make sure you put it in a basket, bowl, or box in front of the person at the party. Don’t drop any currency on the floor. The EFCC advises this. Ignorance is not going to be an excuse. Let us be aware and abide by the rules since it’s the law of the land.”
Earlier this week, reports surfaced that E-Money was arrested by the EFCC for allegedly spraying U.S. dollars at an event. This act was said to be a violation of the Foreign Exchange Act, sparking a wave of reactions from his supporters and the public. In light of the incident, fellow businessman Cubana Chief Priest showed support for E-Money, reassuring him that he would emerge stronger, just as their luxury Rolls Royce cars have endured the test of time. He added that those targeting E-Money were attempting to break his spirit and force him into supporting them under duress.
Another ally, Okon Lagos, also voiced his support for E-Money, raising questions about the hypocrisy of the situation. He pointed out that while the Naira is frequently devalued and abused, particularly in foreign exchange markets, no action has been taken against those responsible for such economic mismanagement. He argued that the EFCC should focus on incarcerating corrupt leaders who are responsible for the economic crisis rather than penalizing those who spray currency at events.
Also Read:E-Money Responds After EFCC Arrest Over Alleged Naira Abuse
