EFCC Summons Subomi and Wahab Okoya, Billionaire Razaq Okoya’s Sons, Over Alleged Naira Abuse Scandal

 In a development that has sent shockwaves through Nigeria's elite circles, the Economic and Financial Crimes Commission (EFCC) has summoned Subomi and Wahab Okoya, sons of billionaire industrialist Chief Razaq Okoya, over allegations of naira abuse.



The controversy erupted after a promotional video surfaced online, featuring the Okoya brothers flamboyantly spraying bundles of N1,000 notes.In the footage, a police officer is seen holding stacks of crisp naira notes as the brothers, adorned in white agbadas, dance exuberantly.This ostentatious display, intended to promote Raheem's new song titled "Credit Alert," has been widely perceived as a blatant disregard for Nigeria's currency regulations.

The EFCC, in its unwavering commitment to uphold the sanctity of the naira, issued an invitation signed by Acting Director of the Lagos Directorate, Michael Wetkas. The Okoya brothers have been directed to report to the Head of the Special Operations Team at the commission's Lagos office by 10 a.m. on Monday, January 13, 2025.

This incident has ignited a firestorm of criticism on social media, with many Nigerians expressing skepticism about the likelihood of accountability, given the Okoya family's influential status.The Nigeria Police Force has responded by identifying and detaining the officer involved, labeling his actions as unethical and promising disciplinary action.

In the face of mounting public outrage, Raheem Okoya issued a public apology via his social media account, stating, "To the Nigerian people, my actions were not intended to cause any trouble or harm. My intentions were pure and naive. I ask for your forgiveness and support as I had no intention of raising such an alarm. I wasn’t fully aware of the consequences of my action.

This incident underscores the EFCC's intensified efforts to enforce laws against naira abuse, as stipulated in Section 21 of the Central Bank of Nigeria (CBN) Act.In 2024, the commission took similar actions against celebrities, including the arrest of social media personality Bobrisky and socialite Cubana Chief Priest, for defacing naira notes.

As the Okoya brothers prepare to face the EFCC's interrogation, this case serves as a stark reminder that, regardless of social standing, actions undermining the integrity of Nigeria's currency will not be tolerated.








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