The Economic and Financial Crimes Commission (EFCC) has swooped in on Kelly Okungbowa, popularly known as Ebo Stone, over allegations of Naira abuse, following a viral video that sparked outrage.
Okungbowa, who until recently served as the Coordinator of the Edo State Public Safety Response Team (PSRT) before its suspension by the state government, was caught on camera engaging in an extravagant display of wealth.
The footage, which surfaced over the weekend, shows him recklessly spraying and rubbing wads of Naira on two scantily clad exotic dancers at a bar on March 9, 2025.
The spectacle has triggered a firestorm of condemnation, as the Central Bank of Nigeria (CBN) Act of 2007 explicitly criminalizes the abuse of the national currency, prescribing penalties of up to six months imprisonment, a ₦50,000 fine, or both.
Confirming the arrest, the EFCC’s Head of Media & Publicity, Dele Oyewale, disclosed in a statement on Monday night that the suspect would face charges upon the conclusion of investigations.
In a swift reaction, the Edo State Chapter of the Peoples Democratic Party (PDP) has commended the EFCC for its decisive action, insisting that no one should be above the law.
Chris Osa Nehikhare, the Publicity Secretary of the State PDP Caretaker Committee, stated: “The Edo State Chapter of the Peoples Democratic Party (PDP) commends the Economic and Financial Crimes Commission (EFCC) for the swift arrest of Kelly Okungbowa, also known as Ebo Stone, for alleged naira abuse.
“The swift arrest of Okungbowa, who was seen in a viral video spraying and mutilating the Naira, sends a strong message that such criminal and irresponsible actions will not be tolerated, regardless of the perpetrator’s position or influence.”
Nehikhare further urged the EFCC to leave no stone unturned in ensuring that the suspect is prosecuted in strict compliance with the CBN Act of 2007, which outlaws all forms of naira abuse, including spraying, trampling, and defacing the national currency.