My EFCC Experience a Wake-Up Call on Currency Respect – E-Money
Nigerian business mogul and president of Five Star Music, Emeka Okonkwo, popularly known as E-Money, has opened up about his recent encounter with the Economic and Financial Crimes Commission (EFCC).
EFCC Warning Against Money Spraying
The entertainment executive revealed that the anti-graft agency cautioned him about the common practice of “spraying” money at parties, which violates Nigeria’s currency protection laws.
“I was invited and warned. They made me understand that spraying money, especially at public gatherings, is against the law. It’s something many of us do innocently, but ignorance is not an excuse,” E-Money explained.
Understanding Currency Abuse Laws
The businessman emphasized that while cultural practices are important, they shouldn’t violate national regulations. He referenced Section 21 of the Central Bank of Nigeria Act, which prohibits mutilation and abuse of the Naira, including spraying, stepping on, or throwing money.
Alternative Ways to Gift Money
E-Money suggested safer alternatives for monetary gifts at events:
- Placing cash in envelopes
- Using gift boxes
- Utilizing designated containers provided by event organizers
“Celebration is not a crime, but how we celebrate matters. Let’s respect our currency,” he advised.
A Call for Public Awareness
The music executive now feels responsible for educating others about currency respect, calling on fellow entertainers and business people to join the campaign against Naira abuse.
“The law is the law, and we must all obey it. I’m grateful for the opportunity to be enlightened, and I hope others learn from this too,” E-Money concluded.
Credit: Persecond News