The Economic and Financial Crimes Commission (EFCC) has recently intensified its crackdown on the abuse of the Nigerian Naira, leading to the arrest of several high-profile celebrities. This move comes as part of a broader effort to tackle the growing misuse and mistreatment of the country’s national currency, particularly at social events.
While the crackdown has received public praise, there have been calls for the agency to extend its focus beyond celebrities to include politicians and other high-profile figures. Critics argue that the selective enforcement raises questions about fairness and accountability.
Why is EFCC Targeting Celebrities for Naira Abuse?
In Nigeria, the abuse of the national currency, the Naira, is a criminal offense, punishable under various provisions of the law. The Central Bank of Nigeria (CBN) Act and the Criminal Code Act provide clear guidelines against the mishandling, mutilation, or misuse of the Naira. Under Section 20 and Section 21 of the CBN Act, it is illegal to hawk, sell, or trade-in Naira notes and coins in public places without CBN’s written consent. Defacing or mutilating the currency is also prohibited under the Criminal Code, with penalties ranging from fines to imprisonment, depending on the severity of the offense.
Celebrities Arrested by EFCC for Naira Abuse
1. Oluwadarasimi Omoseyin
Actress Oluwadarasimi Omoseyin was arrested in February 2023 for spraying and stepping on N100,000 worth of new Naira notes at a party in Lagos. Initially pleading not guilty, she later changed her plea to guilty after overwhelming evidence. She was sentenced to six months in jail or a ₦300,000 fine, which she opted to pay.
2. Bobrisky
Popular cross-dresser Bobrisky, whose real name is Idris Okuneye, was arrested on March 24, 2024, after a video surfaced showing him spraying wads of new Naira notes at a movie premiere in Lekki, Lagos. On April 12, 2024, he was sentenced to six months in jail by Justice Abimbola Awogboro of the Federal High Court. In his ruling, Justice Awogboro emphasized that Bobrisky’s conviction would serve as a deterrent to others.
3. Cubana Chief Priest
Pascal Okechukwu, also known as Cubana Chief Priest, was arrested on April 17, 2024, for violating the Naira abuse law during a social event. He was charged with spraying and defacing currency notes, leading to his arraignment at the Federal High Court in Lagos. He pleaded not guilty to the charges but was granted bail. However, the case was later settled out of court.
4. Ebo Stone
Kelly Okungbowa, also known as Ebo Stone, was arrested on March 17, 2025, after a video of him spraying and mutilating the Naira at a bar went viral. At the time, Okungbowa was the coordinator of the Edo State Public Safety Response Team, a position he has since lost following his arrest.
5. E-Money
Socialite Emeka Okonkwo, known as E-Money, was arrested by the EFCC on April 29, 2025, in Lagos over allegations of money laundering. He was accused of spraying both Naira and US dollar bills at a public event. E-Money, the CEO of Emmy Cargoes Nigeria Limited and Five Star Music, was also said to have violated Nigeria’s Foreign Exchange Act.
Reactions from Nigerians
Nigerians have expressed mixed reactions to the EFCC’s intensified efforts. Public affairs analyst Khalid Musa commended the agency for reviving the long-dormant laws against currency abuse. He urged the EFCC to expand its focus to include non-celebrities, who are equally guilty of similar offenses. Musa emphasized that while the crackdown on celebrities is commendable, a broader approach is needed to ensure fairness.
Entrepreneur Nze Chidi Duru praised the EFCC for “resetting the minds” of celebrities, noting that the practice of spraying money at events has led many youths astray. He emphasized the importance of teaching financial humility, referencing the Bible’s teachings on wealth and pride.
Social commentator Agatha Chima echoed similar sentiments, urging the EFCC to ensure that its actions are not selective. She pointed out that many content creators and ordinary citizens also engage in currency abuse, stressing that the law should apply equally to all Nigerians.
In response to the ongoing public debate, the EFCC has reiterated its commitment to enforcing currency laws, warning that no individual, regardless of their social status, will be spared if found guilty of violating the provisions of the CBN Act.
