Okoya brothers summoned by EFCC over alleged naira abuse

Subomi and Wahab Okoya, sons of prominent businessman Rasaq Okoya, have been summoned by the Economic and Financial Crimes Commission (EFCC) to appear at its Lagos office on Monday, January 13, 2025.

The summons follows a controversial viral video in which the brothers were allegedly seen abusing Nigerian currency in a promotional clip for a new song.

In the video, which has sparked widespread criticism on social media, a police officer is seen holding wads of N1,000 notes while the Okoya brothers danced around to the music.

The clip has drawn outrage for its perceived disregard for the legal and symbolic value of the naira.

In a formal notice signed by Michael Wetkas, Acting Director of the Lagos Directorate of the EFCC, the agency directed the Okoya brothers to report to the head of its Special Operations Team.

They are expected to appear at the EFCC office located at 15A Awolowo Road, Lagos, by 10 a.m. on the stated date.

The EFCC’s investigation is focused on determining whether the actions depicted in the video constitute an offense under Nigeria’s currency laws, which prohibit abuse, defacement, or misuse of the naira.

The video has generated significant backlash, with many Nigerians criticizing the display as an affront to the naira’s dignity.

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Comments on various social platforms described the video as “tone-deaf” and “irresponsible,” especially given the economic challenges faced by many citizens.

Public commentators also condemned the involvement of a police officer in the video, calling for a thorough investigation into the matter.

Dr. Olufemi Adekunle, a sociologist at the University of Lagos, remarked on the cultural implications of the incident. “This kind of behavior reflects a broader issue of declining respect for national symbols and values. When influential individuals display such disregard for the naira, it sends a troubling message,” he said.

Legal expert Barrister Funke Adebayo noted the legal ramifications, explaining that abusing the naira is a punishable offense under Nigerian law. “Section 21 of the Central Bank of Nigeria (CBN) Act explicitly prohibits the abuse of the naira, and offenders can face fines or imprisonment. The EFCC’s involvement signals the seriousness of this issue,” she stated.

The EFCC’s invitation marks the beginning of what could become a high-profile case. Observers believe the investigation will set a precedent for handling similar incidents in the future.

The Okoya brothers have yet to issue an official statement addressing the allegations. Meanwhile, the EFCC has assured the public of its commitment to enforcing laws that protect the integrity of Nigeria’s currency.

The case underscores the need for public education on respecting the naira and the consequences of its abuse, especially by high-profile individuals whose actions can influence public behavior.