EFCC Invites Billionaire, Okoya’s Sons over Alleged Abuse of Naira in Viral Video

Wale Igbintade

The Economic and Financial Crimes Commission (EFCC) has summoned Subomi and Wahab Okoya, sons of billionaire industrialist Razaq Okoya, over alleged naira abuse.
The two brothers were directed to appear at the EFCC Lagos office on Awolowo Road, Ikoyi, by 10 a.m. on Monday, January 13, 2025.

The Okoya brothers have been in the news for “abusing the naira” in a promotional video for a new song.
The video – which featured a police officer holding wads of N1,000 notes as the boys encircled to a tune – had elicited outrage on social media.

In a viral video, Subomi and his brother Wahab were seen spraying naira notes, while a police officer held stacks of the currency, a violation of Section 21(3) of the Central Bank of Nigeria Act, 2007.
The EFCC, in an invitation signed by the Acting Director of the Lagos Directorate, Michael Wetkas, said the invitation was part of its commitment to enforcing Section 21(3) of the Central Bank of Nigeria (CBN) Act, 2007, which prohibits the abuse of the national currency.

The video has also drawn the attention of the Nigeria Police Force, which identified and detained the officer seen in the clip.
The Force spokesperson, Muyiwa Adejobi, confirmed that the officer’s actions were unethical and that he would face disciplinary measures as part of the police’s efforts to uphold professionalism and integrity.

Public outrage over the incident has reignited calls for stricter enforcement of naira abuse laws, particularly against high-profile individuals.
In 2024, the EFCC intensified its crackdown on similar offenses, leading to arrests and prosecutions of celebrities, including social media figures Bobrisky and Cubana Chief Priest, for defacing and abusing naira notes in public displays.

The case involving the Okoya brothers is the latest in a series of high-profile incidents as authorities emphasise the equal application of the law and the preservation of the naira’s integrity.
Recall that in 2024, popular socialite and cross-dresser, Okuneye Idris, popularly known as Bobrisky, was imprisoned for a similar offence.