Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested businessman Emeka Okonkwo, popularly known as E-Money, on Tuesday morning.
E-Money, who is the CEO of Emmy Cargoes Nigeria Limited and Five Star Music, was arrested in Lagos State for alleged abuse of the naira.
He is being held at the EFCC facility in Lagos, according to sources who confirmed his arrest to THE WHISTLER on Tuesday.
According to the source, E-Money is being investigated for allegedly spraying both Naira and US dollars at a party in Lagos in violation of Nigeria’s currency laws.
In a separate development, the EFCC has also arrested businesswoman Aisha Achimugu, at the Nnamdi Azikiwe International Airport in Abuja.
Achimugu, who had been declared wanted by the anti-graft agency since March over allegations of criminal conspiracy and money laundering, was taken into custody around 5 a.m. shortly after arriving from London.
Her lawyer, Chief Chikaosolu Ojukwu, who confirmed the arrest to Punch, described it as a violation of a court order.
According to him, Achimugu returned voluntarily to Nigeria in compliance with an undertaking made before the Federal High Court in Abuja.
“Aisha Achimugu, who arrived voluntarily into the country from London, was arrested by the EFCC around 5 a.m. on Tuesday,” Ojukwu said in a message to Punch.
Justice I.E. Ekwo of the Federal High Court in Abuja had on Monday ordered Achimugu to appear before the EFCC on Tuesday, April 29, and also to appear before the court on Wednesday, April 30, 2025.
Her lawyer argued that the arrest at the airport breached the spirit of that court directive.
“In light of what transpired in court on Monday, my client returned based on the undertaking before the court to honour the EFCC’s invitation, but was arrested at the airport,” Ojukwu stated.
He further revealed that Achimugu had commenced a hunger strike in protest of what he termed the infringement of her fundamental rights. “She is a prisoner of conscience,” he added.
An EFCC official who spoke on condition of anonymity confirmed the arrest and explained that the agency had no guarantee Achimugu would voluntarily report at their office.
“We had earlier declared her wanted and we can’t allow her to continue to walk freely. Secondly, the court said she must appear before us today. We were not restricted from arresting her; what the court said was if she comes, she should not be detained.
“How are you sure she would appear before us today? Now that we have seen her, we have a course to ensure she appears,” the official told Punch
As of the time of press, EFCC spokesperson Dele Oyewale had yet to respond to calls and messages from our correspondent for official comment.
