Previously, Mansionpage reported that E-Money was arrested for supposed Naira abuse and what seems to be defacing foreign currencies, but insider Cutie Juls has revealed that this arrest occurred over an invitation that E-Money failed to honor.

Cutie Juls observed that Kcee, E-Money, and a third gentleman called Vintage were all invited by the EFCC. While Kcee and Vintage honored the invitation, E-Money was said to have ignored it.

Since then, all attempts to successfully put E-Money in the dock met failure until and in actual fact leading to his arrest on the 28th of April, 2025.

Additionally, according to Cutie Juls, credible sources are confirming that E-Money is now being flown to the EFCC headquarters in Abuja.

The EFCC’s probe into E-Money’s activities follows an avalanche of complaints regarding his lifestyle. In May 2020, the Inspector-General of Police ordered the investigation into E-Money’s ostentatious lifestyle and alleged abuse of police escorts. Reports indicate he was using them for personal assignments, which led to their withdrawal from him and the investigation into his use of police escorts (IG orders probe of E-Money, withdraws police escort – Punch Newspapers).

Officially, the EFCC has not said anything about E-Money’s arrest until now. The situation continues to develop, and we expect to provide other updates as the situation unfolds.

EFCC sources claimed that E-Money was arrested on Monday night at his Omole home in Lagos. His arrest came on the heels of various viral videos that showed him spraying dollars at festivities or parties, which is an offense under the Foreign Exchange Act.

While speaking anonymously, an EFCC source said E-Money was being investigated for not just Naira abuse but also for defacing foreign currency, which is in the EFCC’s purview.
“E-Money was apprehended on Monday night for offences relating to the alleged abuse of the Naira and defacing foreign currency. Video footage showed him spraying U.S. dollars in contravention of the provisions of the Foreign Exchange Act,” our source revealed.

The source continued to say that E-Money was arrested at his house in Lagos and that preliminary investigations have commenced. He is to be charged in due course upon the conclusion of investigations.

“The source further said that he is on his way to Abuja to face the EFCC interrogation,” the source revealed.

All attempts to contact EFCC spokesman Dele Oyewale to get a formal response regarding the arrest were futile as he stated he was not commenting.

The EFCC has been on a warpath in recent times against the improper use of local currency in public and the outlandish handling of foreign currencies, warning that anyone indulging in such acts would definitely have to answer. E-Money’s arrest reflects the agency’s resolve to enforce financial discipline and conscious participation in currency regulations.

Currently, E-Money remains in custody at the EFCC, and further updates will likely follow after the impending investigation is concluded.