Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission have arrested Kelly Okungbowa, popularly known as Ebo Stone, over allegations of naira abuse.
The arrest, which took place on Monday, March 17, 2025, follows an investigation into a viral video showing Okungbowa spraying and mutilating the Nigerian currency at a bar.
The incident reportedly occurred on March 9, 2025.
The Head of Media & Publicity, Dele Oyewale, revealed this in a statement published on the commission’s official website.
Okungbowa, who was until recently the coordinator of the Edo State Public Safety Response Team, had been suspended by the Edo State Government before his arrest.
His suspension was believed to be linked to the ongoing probe into his conduct, which came under scrutiny after the video gained widespread attention on social media.
The footage reportedly captured him engaging in the act of spraying cash in a celebratory manner, a practice that contravenes Nigeria’s laws on currency abuse.
The EFCC, in its commitment to enforcing the laws against naira mutilation, moved swiftly to apprehend Okungbowa.
The commission has repeatedly warned against the abuse of the national currency, emphasizing that defacing, spraying, or stepping on the naira is a punishable offense under the Central Bank of Nigeria Act.
His arrest underscores the agency’s intensified crackdown on such offenses, particularly among high-profile individuals and public figures.
Okungbowa will be charged to court as soon as investigations are concluded, the EFCC confirmed. If found guilty, he could face penalties, including fines or imprisonment, as prescribed by Nigerian financial regulations.
“He will be charged to court as soon as investigations are completed,” EFCC spokespsrson said.
His case adds to the growing number of individuals prosecuted for naira abuse, reflecting the government’s resolve to uphold financial discipline and prevent the devaluation of the country’s currency.
