Nigerian business mogul and president of Five Star Music, Emeka Okonkwo, popularly known as E-Money, has shared his recent encounter with the Economic and Financial Crimes Commission (EFCC) while he was invited for questioning over his conduct at public events.
E-Money disclosed that the anti-graft agency cautioned him specifically about the practice of “spraying” money at parties—an act that has become commonplace at Nigerian parties and social events, a violation of the law.
According to him, the EFCC reminded him that such behaviour is considered an abuse of the Naira and could attract legal penalties.
He explained that while the atmosphere at events often encourages spontaneous acts of celebration, including spraying cash, the law remains clear and unforgiving.
“I was invited and warned. They made me understand that spraying money, especially at public gatherings, is against the law. It’s something many of us do innocently, but ignorance is not an excuse,” he said.
E-Money urged the public, especially celebrities and event goers, to become more informed about Nigeria’s currency protection laws.
He emphasized that while cultural practices are important, they should not come at the expense of breaking national regulations.
Persecondnews recalls that the EFCC has consistently warned against the mutilation and abuse of the Naira, which includes spraying, stepping on, or throwing money on the ground at events.
According to Section 21 of the Central Bank of Nigeria Act, these actions are punishable under the law and considered acts of currency abuse.
The businessman advised that those wishing to gift money at events should do so by placing the cash in envelopes, gift boxes, or designated containers provided by the celebrants.
This, he said, ensures both respect for the currency and compliance with the law.
“Celebration is not a crime, but how we celebrate matters. Let’s respect our currency. If you must give money, put it in a bowl or box. Don’t throw it on the floor or in the air. We can still show love and support at events without breaking the law,” E-Money said.
He noted that his experience with the EFCC has taught him a valuable lesson, and he now feels a responsibility to use his platform to educate others.
He called on fellow entertainers, business people, and the general public to join in the campaign against currency abuse in the country.
“The law is the law, and we must all obey it. I’m grateful for the opportunity to be enlightened, and
I hope others learn from this too.”
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