Prominent nightlife entrepreneur and socialite, Cubana Chief Priest, has condemned the arrest of popular billionaire and music executive, Emeka Okonkwo, widely known as E-Money, by operatives of the Economic and Financial Crimes Commission (EFCC).
E-Money, who is the CEO of 5-Star Music and a well-known philanthropist, was arrested at his residence in the Omole area of Lagos on the night of Monday, April 25, 2025.
Sources within the anti-graft agency revealed that the arrest was linked to allegations of naira abuse and the defacing of foreign currency. Specifically, he was accused of publicly spraying U.S. dollars at a recent social event, a move which, according to EFCC, contravenes Nigeria’s Foreign Exchange Act.
“On Monday night, we arrested E-Money for naira abuse and defacing foreign currencies. Preliminary investigations are ongoing and he will be charged to court as soon as the investigation is concluded,” an EFCC official disclosed under anonymity.
Reacting via his social media handle, Cubana Chief Priest, a close ally of E-Money, expressed outrage over the development, describing it as a calculated attempt to intimidate voices from the Southeast.
“This is a guy who just did everything to push up Southeast with his just concluded homecoming concert this Easter. I knew they would come for him because they just saw his strength,” he wrote.
He further alleged that the move was aimed at coercing E-Money into political submission.
“They are doing this so they could break him to make him support them under duress,” he claimed.
Cubana Chief Priest, who hails from the same Southeast region as E-Money, vowed that they would not be silenced ahead of the 2027 general elections.
“We don’t die; we multiply. More billionaires are coming. Come 2027, we will support and vote for who we want to. We won’t be broken,” he declared.
Both E-Money and Cubana Chief Priest have been vocal about their political leanings, with the Southeast widely known for its support of Labour Party’s presidential candidate, Peter Obi, during the 2023 general elections.
As at press time, the EFCC has yet to issue an official statement beyond the brief by the unnamed official.