The Economic and Financial Crimes Commission’s (EFCC) swiftness in arresting socialite, Emeka Daniel, also known as E-Money for allegedly defacing the United States dollar, while stalling on action against the Okoya brothers who were publicly seen spraying naira notes, raises serious concerns about the agency’s impartiality.
Development Diaries reports that E-Money was arrested on Monday night at his residence in Lagos State and subsequently taken to the EFCC’s office in Abuja.
According to media reports, his arrest was in connection with alleged abuse of the Naira and the defacing of foreign currencies, specifically, spraying United States dollars in a manner that contravenes the Foreign Exchange Act.
It is understood that he has been released after hours of interrogation by operatives of the EFCC.
Section 21 of the Central Bank of Nigeria (CBN) Act has been used by the EFCC since 2024 to target Nigerians who ‘spray’ naira notes in public.
The agency is now targeting Nigerians who decide to spray the dollar at parties as well, using the nation’s Foreign Exchange Act as justification.
In January, Wahab and Raheem Okoya, sons of billionaire businessman Razaq Okoya, posted a video on social media showing themselves spraying crisp N1,000 notes while dancing to a song by Raheem titled Credit Alert.
The act sparked widespread public backlash, prompting calls for the EFCC to take action.
Following mounting social media pressure, the EFCC invited the Okoya brothers to its Lagos office on 11 January for questioning.
However, since that initial invitation, there has been no further public update from the agency on the case, raising concerns about unequal enforcement of currency abuse laws.
It is quite troubling that the commission is seen to quickly apply the law in some instances and sluggishly in others, particularly when powerful or well-connected individuals are involved.
This raises concerns about unequal treatment in Nigeria’s fight against corruption.
People are watching, and the public’s confidence in the EFCC’s mission and integrity is being eroded by this selective application of the law.
If the agency applies one set of rules for the wealthy and influential, and another for everyday Nigerians or internet celebrities, it delegitimises the core mission of justice and accountability that it claims to uphold.
Nigerians will begin to question whether the agency’s actions are motivated by genuine law enforcement or by the social status of the accused.
The ongoing delay in concluding the Okoya case, despite the clear public evidence available since January, points to a concerning lack of political will or institutional courage.
The EFCC cannot afford to play favourites if it hopes to maintain credibility and fulfil its mandate.
Development Diaries calls on the EFCC to demonstrate that no individual is above the law by concluding its investigation into the Okoya brothers and providing a transparent update on the matter.
The agency owes the Nigerian public consistency, fairness, and timely action in all cases, regardless of the social class or connections of those involved.
Photo source: Emeka Okonkwo/Instagram
