E-Money, the founder of 5-Star Music, was reportedly taken into custody by EFCC officers on the night of Monday, April 25, at his home in the Omole area of Lagos.
Cubana Chief Priest, a well-known Nigerian socialite, has come out in support of billionaire businessman Emeka Okonkwo, also known as E-Money, after reports surfaced of his alleged arrest by the Economic and Financial Crimes Commission (EFCC).
Sources within the commission suggest that the flamboyant businessman was detained for spraying United States dollars at a public event – an act said to be in breach of the Foreign Exchange Act.
A source within the EFCC, who requested to remain anonymous, stated:
"On Monday night, we arrested E-Money for naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed US dollars, which is against the Foreign Exchange Act. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded.”
In response to the development, Cubana Chief Priest took to social media to express his solidarity with E-Money. He described the businessman as a strong figure who had recently championed the Southeast region through a massive homecoming concert during the Easter festivities.
“This is a guy who just did everything to push up Southeast with his just concluded homecoming concert this Easter. I knew they would come for him because they just saw his strength,” he wrote. “They are doing this so they could break him to make him support them under duress.”
Cubana further alleged that the incident was part of a larger pattern of “oppression” against the Igbo community.
“We don’t die; we multiply. More billionaires are coming. Come 2027, we will support and vote for who we want to. We won’t be broken,” he added.