From Moshood Karim
The Economic and Financial Crimes Commission (EFCC) has arrested Kelly Okungbowa, popularly known as Ebo Stone, over alleged abuse of the Nigerian currency. Until his arrest, Okungbowa served as the coordinator of the Edo State Public Safety Response Team (PSRT). However, he was recently suspended by the state governor, Senator Monday Okpebholo, following accusations of extortion, harassment, and misconduct by members of his team.
In a statement issued by Dele Oyewale, EFCC’s Head of Media and Publicity, and made available to journalists in Benin City, it was confirmed that Okungbowa was taken into custody on 17 March 2025. His arrest followed the circulation of a viral video showing him spraying and defacing the naira at a bar on 9 March 2025, in violation of the Central Bank of Nigeria (CBN) Act of 2007, which criminalises the abuse of the national currency.
The EFCC stated that Okungbowa will be charged to court upon the conclusion of their investigation.
Meanwhile, the Edo State chapter of the Peoples Democratic Party (PDP) has applauded the EFCC for its swift action. In a statement by Chris Osa Nehikhare, Publicity Secretary of the party’s Caretaker Committee, the PDP urged the anti-graft agency to ensure a thorough investigation and diligent prosecution of the case.
“The prompt arrest of Okungbowa, seen in a viral video spraying and mutilating the naira, sends a clear message that such reckless and illegal acts will not be condoned, irrespective of the offender’s status or influence,” the statement read.
The incident has sparked public outcry, with many calling for strict enforcement of the law to deter further currency abuse.
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