Naira Abuse: Between EFCC’s Overkill And Our Failing Priorities

The Economic and Financial Crimes Commission (EFCC) recently arrested Lagos socialite E-Money for allegedly spraying US dollars at an event, a practice considered a violation of the Foreign Exchange Act.
This crackdown on “naira abuse” has also involved other public figures like Bobrisky and Cubana Chief Priest, sparking debate about the EFCC’s priorities.
Critics argue the EFCC should focus on high-profile corruption and more impactful financial crimes rather than policing cultural practices like money spraying at celebrations.
There are calls for lawmakers to revisit outdated laws and for the EFCC to target politically exposed persons who are often seen escaping prosecution while socialites face legal action.