Emmanuel OchayiThe Peoples Democratic Party (PDP) in Edo State has commended the Economic and Financial Crimes Commission (EFCC) for the swift arrest of Kelly Okungbowa, also known as Ebo Stone, over alleged naira abuse.
Okungbowa, a former Coordinator of the Edo State Public Safety Response Team (PSRT), was arrested by the EFCC’s Benin Zonal Directorate after a viral video showed him spraying and mutilating naira notes at a bar on March 9, 2025. The video, which surfaced over the weekend, depicted him throwing large sums of money while two dancers rubbed the notes on their bodies.
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The EFCC has stated that Okungbowa’s actions violate the Central Bank of Nigeria (CBN) Act of 2007, which prohibits naira abuse. Under the law, anyone found guilty of spraying, stepping on, or mishandling the currency faces a fine of ₦50,000, a six-month prison sentence, or both.
In a statement, EFCC’s Head of Media and Publicity, Dele Oyewale, confirmed that the suspect is in custody and will be prosecuted once investigations are completed. The commission has reiterated its commitment to enforcing financial laws and ensuring that offenders are held accountable.
PDP Calls for Diligent Prosecution
Reacting to the arrest, the Edo State PDP Caretaker Committee praised the EFCC’s swift action and called for a thorough investigation. The party’s Publicity Secretary, Chris Osa Nehikhare, stressed the importance of prosecuting the case in line with existing laws.
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“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,” Nehikhare said in a statement.
He added that the arrest sends a strong message that financial misconduct will not be tolerated, regardless of a person’s status or influence. The PDP urged the EFCC to ensure the case is handled without political interference.
Public Outrage and Legal Implications
The arrest has sparked widespread reactions, with many Nigerians supporting the EFCC’s efforts to curb naira abuse. Some citizens have pointed out that public figures and government officials must lead by example, rather than engage in acts that undermine financial discipline.
Legal experts have also weighed in, stating that Okungbowa’s prosecution could set a precedent for stricter enforcement of the law. They have urged the EFCC to intensify its crackdown on naira abuse, which remains a common practice at social events despite repeated warnings.
EFCC’s Ongoing Crackdown on Financial Crimes
The EFCC has been increasing efforts to tackle financial crimes, including naira abuse, money laundering, and fraud. The agency has arrested several high-profile individuals in recent months for similar offences, reinforcing its stance against financial misconduct.
With the case against Okungbowa now in motion, the EFCC has reassured the public that no one is above the law. The commission has urged Nigerians to respect the naira and warned that those who violate currency regulations will face legal consequences.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
