Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested popular Nigerian businessman and music executive, Emeka Okonkwo, widely known as E-Money.

Sources in the commission say the businessman was apprehended on Monday night April 28 over alleged abuse of the naira and defacing foreign currency. The sources mentioned that E-Money is under investigation for spraying both naira and United States dollars at a social event which violates Nigeria’s currency laws and the Foreign Exchange Act.

He is said to have been flown to Abuja for further questioning.

The commission is yet to release a statement regarding this development.