Popular Lagos socialite and businessman Emeka Okonkwo, popularly known as E-Money, was released on Tuesday evening after several hours of questioning by the Economic and Financial Crimes Commission (EFCC).

E-Money was reportedly arrested on Monday night at his residence in the Omole area of Lagos and transported to the EFCC headquarters in Abuja. His arrest was linked to alleged abuse of the Naira and defacement of foreign currency, specifically the public spraying of U.S. dollars—an action that contravenes provisions of the Foreign Exchange Act.

A senior EFCC official confirmed the arrest, stating:

E-Money was taken into custody on Monday night over alleged Naira abuse and defacing of foreign currency. He was specifically alleged to have sprayed U.S. dollars in violation of the Foreign Exchange Act. Preliminary investigations are ongoing, and he will be charged to court upon conclusion of the inquiry.

Following his release, E-Money addressed his fans via Instagram (@iam_emoney1), where he posted a short video clip from his home with a caption that read:

No tension, everywhere good. I see all your love and support. God bless you all.

The post was accompanied by a gospel soundtrack with the lyrics, “Thank you for saving me, thank you my Lord.

Close associate and fellow socialite, Pascal Okechukwu (aka Cubana Chief Priest), also celebrated the news of E-Money’s release. Posting on his Instagram handle (@cubana_chiefpriest), he wrote:

My brother don fall out. To God be the glory.

As of press time, official confirmation from EFCC spokesperson Dele Oyewale was still being awaited, as multiple attempts to reach him had gone unanswered.