The development stems from a social event where he was seen spraying both Naira and foreign currencies—an act deemed to contravene the Central Bank of Nigeria's (CBN) regulations against currency mutilation.
In an Instagram post shared on Wednesday, AY confirmed that he was summoned for questioning on Monday, May 5, by the anti-graft agency. He explained that the EFCC sought clarification on the nature of the currency spraying, a common practice at Nigerian celebrations such as weddings and funerals, but one that is punishable under Section 21 of the CBN Act, 2007.
“I am grateful to God for His mercy and guidance,” AY wrote. “The EFCC questioned me over an incident involving the public spraying of currencies, which has been classified as an offense related to the abuse of the Naira.”
He expressed gratitude to the EFCC for handling the situation professionally and confirmed that he was granted a pardon after officials verified that the money in question was not linked to any criminal activity or illicit funds.
“This experience has taught me a valuable lesson,” he added. “I’m committed to raising awareness about the importance of treating the Naira with the respect it deserves.”
AY used the opportunity to address a wider audience, highlighting how the cultural tradition of spraying money—although widely accepted in Nigerian social life—can carry legal consequences when it results in the defacing or mishandling of currency.
“It is important to understand that mutilating or abusing the Naira is not just a cultural practice but also a legal offense,” he emphasized. “Let’s work together to preserve the dignity of our currency, a symbol of our nation’s sovereignty.”
AY also attached a series of informational slides in his post, titled “Dos and Don’ts,” aimed at educating the public on acceptable practices concerning currency handling.
In a related development, Nollywood actress Iyabo Ojo also confirmed being contacted by the EFCC. In a statement shared on her Instagram page on Tuesday, she revealed that she complied with the invitation upon returning from the UK. Ojo appeared before the EFCC on the same day as AY, where she was reportedly questioned in connection with her daughter’s recent wedding ceremony.
Both celebrities have pledged to use their influence and platforms to enlighten Nigerians on the legal implications of abusing the national currency. They hope to contribute to a shift in public perception and encourage practices that uphold the law and national values.
Their experiences come amid a broader campaign by the EFCC and the CBN to curb currency abuse, signaling a stricter enforcement of financial regulations in public and social spaces.