Ebo Stone Dragged to Court by EFCC for Currency Desecration

A high-profile case of currency desecration has landed Benin City socialite, Kelly Okungbowa, also known as Ebo Stone, in hot water.

The Economic and Financial Crimes Commission (EFCC) Benin Zonal Directorate hauled him before Justice C. A. Obiozor of the Federal High Court, sitting in Benin City, to face a two-count charge.

Prosecutors allege that Okungbowa engaged in the wanton destruction of the national currency on two separate occasions, recklessly spraying a substantial amount of cash, totaling N300,000, while dancing with women at entertainment venues in the city.

This blatant disregard for the nation’s currency has sparked outrage and raised questions about the suspect’s respect for the law.

According to the charges, Okungbowa’s actions were in clear contravention of the Central Bank of Nigeria (Establishment) Act 2007. Specifically, Count one of the charge accuses him of tampering with N200,000 in N500 denominations at the Uyi Grand Marquee Event Centre in November 2024, while dancing with “Mummy Shallipopi”.

The second count alleges that he repeated this offense on March 9, 2025, at his own lounge/bar on Ihama Road, this time with N100,000 in N200 denominations.

When the charges were read out, Okungbowa entered a plea of “not guilty”, prompting prosecution counsel, Francis Jirbo, to request a trial date.

Meanwhile, his defense counsel, C. B. Ogiegbaen, informed the court of a pending bail application, which has been served on the prosecution.

As the case unfolds, it remains to be seen how the court will rule on the allegations against Kelly Okungbowa, aka Ebo Stone.