The Economic and Financial Crimes Commission (EFCC) has released popular socialite, Emeka Okonkwo, popularly known as E-Money, on bail.

A source at the commission who did not want his name in print told press, via phone that E-money was released on Tuesday and would be charged to court soon.

E-money had been arrested on Tuesday on allegations of naira abuse.

E-Money was arrested by the anti-graft agency in the Omole area of Lagos State.

He was subsequently taken into EFCC’s custody in Abuja.

He was said to have been spotted at a public event allegedly spraying the naira and some US dollar bills, an offence said to be contrary to Nigeria’s Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.

The anti-graft agency has been cracking down on abusers of the nation’s currency of recent.