The Economic and Financial Crimes Commission (EFCC) has summoned Subomi and Wahab Okoya, sons of billionaire industrialist Razaq Okoya, for questioning over alleged misuse of Nigeria’s currency, the naira.
Despite a public apology from one of the brothers expressing regret and seeking forgiveness from Nigerians, the EFCC directed the duo to report to its Lagos office on Awolowo Road, Ikoyi, at 10 a.m. on Monday, January 13, 2025.
The summons followed the circulation of a viral video showing the brothers spraying naira notes at an event while a police officer held bundles of cash. The EFCC stated that the action violates Section 21(3) of the Central Bank of Nigeria (CBN) Act, 2007, which prohibits the abuse of the national currency.
In a statement signed by Michael Wetkas, Acting Director of the EFCC Lagos Directorate, the commission reaffirmed its commitment to enforcing laws protecting the naira from misuse.
The Nigeria Police Force has also taken disciplinary steps. Force spokesperson Muyiwa Adejobi confirmed that the officer seen in the video has been identified, detained, and will face sanctions for unprofessional conduct as part of efforts to maintain discipline and integrity within the police ranks.
