E-Money was taken into custody on Monday night at his residence in the Omole area of Lagos and subsequently transported to the commission's office in Abuja for interrogation. His arrest stemmed from allegations of Naira abuse and the defacing of foreign currencies.
On Tuesday evening, the socialite seemingly confirmed his release by posting a video on his Instagram handle, @iam_emoney1. The video depicted him in his residence, accompanied by the caption, "No tension, everywhere good, I see all your love and support. God bless you all." The soundtrack of the video featured the song, "Thank you for saving me, thank you my Lord."
As of the time of this report, calls and messages seeking official confirmation of E-Money's release from EFCC spokesperson Dele Oyewale went unanswered.
Fellow socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, also took to his Instagram handle, @cubana_chiefpriest, to celebrate E-Money's reported release, writing, "My brother don fall out, To God be the glory."
Earlier reports on Tuesday indicated that E-Money's arrest was specifically linked to allegations of spraying United States dollars, an act that contravenes the Foreign Exchange Act.
An EFCC source had previously stated, "On Monday night, we arrested E-Money for Naira abuse and defacing foreign currencies. Specifically, he was alleged to have sprayed U.S. dollars, which is against the Foreign Exchange Act. He was arrested at his Omole, Lagos residence. Preliminary investigations are ongoing, and he will be charged to court as soon as investigations are concluded."
While E-Money's social media post and Cubana Chief Priest's message suggest his release, official confirmation from the EFCC is still pending. The details of any conditions attached to his release and the status of the ongoing investigation remain unclear.