The Economic and Financial Crimes Commission (EFCC) has summoned Subomi and Wahab Okoya, sons of renowned billionaire industrialist Razaq Okoya, over a viral video showing them allegedly abusing the Nigerian currency. The brothers are expected to appear at the EFCC’s Lagos office on Awolowo Road, Ikoyi, at 10 a.m. on Monday, January 13, 2025, for questioning.
The controversial video, which surfaced online, shows the Okoya brothers spraying wads of naira notes while a police officer held stacks of cash. The video appeared to be part of a promotional campaign for a new song, but it sparked widespread criticism from the public and law enforcement agencies.
EFCC’s Official Summons
The EFCC’s invitation, signed by the Acting Director of the Lagos Directorate, Michael Wetkas, stated that the investigation was part of the agency’s commitment to enforcing Section 21(3) of the Central Bank of Nigeria (CBN) Act, 2007. The law strictly prohibits the abuse of the naira and prescribes penalties for those found guilty of defacing or mishandling the national currency.
The EFCC reaffirmed its zero-tolerance policy toward naira abuse, stating that it would not hesitate to take action against both ordinary citizens and high-profile individuals who violate currency regulations.
Police Officer Detained
The Nigeria Police Force (NPF) has also taken disciplinary measures against the police officer seen in the video. The officer, whose identity remains undisclosed, has been detained pending an internal investigation.
Muyiwa Adejobi, the NPF spokesperson, confirmed the officer’s detention and condemned his involvement in the incident.
“The policeman captured in the recent viral video shared by the sons of the Lagos businessman, Chief Okoya, where they were abusing the naira, has been identified and detained for disciplinary action,” the NPF said in a statement via its official X (formerly Twitter) handle.
Adejobi described the officer’s actions as “unethical” and stressed the importance of maintaining the professionalism and integrity of the police force.
Public Reaction and Legal Precedents
The viral video has sparked public outrage, with many Nigerians demanding equal enforcement of the law against both the Okoya brothers and the detained officer.
Several social media users on X criticized the perceived leniency towards wealthy individuals involved in naira abuse, urging law enforcement agencies to hold everyone accountable regardless of their social status.
“This is not the first time we’ve seen influential individuals violating the naira abuse law. The authorities must prove that no one is above the law,” one user commented.
In recent years, the EFCC has intensified its crackdown on naira abuse. In 2024, popular socialites Bobrisky and Cubana Chief Priest were arrested and prosecuted for public displays involving the defacing and spraying of naira notes. Bobrisky, whose real name is Okuneye Idris, was sentenced to prison for similar offenses.
The EFCC has consistently warned against treating the national currency with disrespect, stating that such acts undermine the country’s economic stability and international image.
Legal Implications and Next Steps
According to the CBN Act, violators of the naira abuse law face fines or imprisonment upon conviction. The EFCC and NPF have reiterated their commitment to ensuring that violators are brought to justice, regardless of their status.
As the Okoya brothers prepare to meet with the EFCC, legal experts suggest that the case could set another precedent in Nigeria’s ongoing fight against naira abuse.
The EFCC’s next steps will include questioning the brothers, gathering evidence from the viral video, and possibly pressing charges if they are found culpable. Meanwhile, the police officer’s disciplinary process will be handled internally by the NPF.
The EFCC and the police have vowed to work together to ensure that those involved in the incident are held accountable under the law, as part of their broader efforts to promote integrity, accountability, and respect for Nigeria’s financial institutions.
