EFCC Indicts Benin City Socialite for Naira Misuse

On Monday, May 26, 2025, the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) brought Kelly Okungbowa, also known as Ebo Stone, before Justice C. A. Obiozor at the Federal High Court in Benin City. He faces two counts of Naira abuse and mutilation.

Okungbowa is accused of two separate incidents in which he allegedly sprayed a total of N300,000 (Three Hundred Thousand Naira) while dancing with women at recreational venues in Benin City and subsequently trampling on the notes. The first count states: "That you, Kelly Okungbowa (m), on or around November 2024 at Uyi Grand Marquee Event Centre, Benin City, Edo State, within the jurisdiction of this Honourable Court, while dancing with 'Mummy Shallipopi,' tampered with a total of N200,000 (Two Hundred Thousand Naira) in N500 (Five Hundred Naira) notes, issued by the Central Bank of Nigeria, by spraying them, thereby committing an offense contrary to Section 21(3) of the Central Bank of Nigeria (Establishment) Act 2007, and punishable under Section 21(1) of the same Act.

" The second count alleges: "That you, Kelly Okungbowa (m), on or about March 9, 2025, at a Lounge/Bar owned by you on Ihama Road, Benin City, Edo State, within the jurisdiction of this Honourable Court, while dancing with several young ladies, tampered with N100,000 (One Hundred Thousand Naira) in N200 (Two Hundred Naira) notes, issued by the Central Bank of Nigeria, by spraying them, thereby committing an offense contrary to Section 21(3) of the Central Bank of Nigeria (Establishment) Act 2007, and punishable under Section 21(1) of the same Act." Okungbowa pleaded "not guilty" to the charges when they were read to him. Prosecutor Francis Jirbo requested a trial date, while defense counsel C. B. Ogiegbaen informed the court about a pending bail application on behalf of the defendant, which had been submitted to the prosecution. The court briefly stood down the proceedings and, when reconvened around 4 PM, the judge noted that the day was winding down. The case was adjourned until Tuesday, May 27, 2025. The defendant was released to his lawyer on the condition that a written undertaking be provided to ensure his appearance in court for consideration of his bail application.