Lagos-based Nigerian socialite and businessman, Emeka Okonkwo, popularly known as E-Money, has issued a strong warning to Nigerians, urging them to stop spraying the Naira or any other currency at parties.
E-Money’s warning came after he was arrested and questioned by the Economic and Financial Crimes Commission (EFCC) for abusing Naira at a party.
He was arrested, detained and questioned by the EFCC over alleged currency abuse involving both the Naira and U.S. Dollar at public events.
In an Instagram post on Thursday, E-Money highlighted the EFCC’s directive prohibiting the spraying or throwing of money during celebrations, stressing that such actions are considered currency abuse under Nigerian law.
“Let’s celebrate responsibly and avoid fines. Respect our currency,” he wrote.
He further advised Nigerians to adopt alternative ways of giving money at social gatherings.
“If you must give money at a party, make sure you put it in a basket or in a bowl or container in front of the person at the party. Don’t drop any currency on the floor,” E-Money cautioned. “Ignorance of the law will not be accepted as an excuse.”
The EFCC has repeatedly warned against the spraying or mutilation of currency, emphasizing that such acts constitute a criminal offense under Nigerian law.
The Agency has ramped up enforcement efforts in recent months, increasingly targeting high-profile individuals caught publicly mishandling cash at social functions.
E-Money’s warning signals a growing awareness of the legal risks associated with long-standing party traditions and serves as a reminder of the consequences of violating currency regulations.