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EFCC Arraigns Benin City Socialite for Naira Abuse

Our Reporters3 weeks ago3 weeks ago54 mins

The Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on Monday, May 26, 2025 arraigned Kelly Okungbowa a.k.a Ebo Stone, a Benin City-based socialite before Justice C. A. Obiozor of the Federal High Court, sitting in Benin City on a two-count charge of Naira abuse and mutilation. Okungbowa is alleged to have on two different occasions while dancing with women in recreational centres in Benin City, sprayed a total of N300, 000 (Three Hundred Thousand Naira) and trampled on them in the process. Count one of his charge reads: “That you Kelly Okungbowa (m) sometime in November 2024 at Uyi Grand Marquee Event Centre, Benin City, Edo State within the jurisdiction of this Honourable Court whilst dancing with “Mummy Shallipopi,” tampered with the total sum of N200,000 (two hundred thousand Naira) notes of N500 (five hundred Naira) denomination, issued by the Central Bank of Nigeria by spraying the same and thereby committed an offence contrary to Section 21(3) of the Central Bank of Nigeria (Establishment) Act 2007 and punishable under Section 21 (1) of the same Act.” Count two reads: “That you Kelly Okungbowa (m) on or about the 9th day of March 2025 at a Lounge/Bar owned by you, located at lhama Road, Benin City, Edo State within the jurisdiction of this Honourable Court whilst dancing with some young ladies, tampered with the total sum of N100,000 (one hundred thousand Naira) notes of N200 (two hundred Naira) denomination, issued by the Central Bank of Nigeria by spraying same and thereby committed an offence contrary to Section 21(3) of the Central Bank of Nigeria (Establishment) Act 2007 and punishable under Section 21 (1) of the same Act.” He pleaded “not guilty” to the charge when it was read to him, following which prosecution counsel, Francis Jirbo prayed the court for a trial date, while the defence counsel, C. B. Ogiegbaen informed the court of a pending bail application for the defendant which has been served on the prosecution. The court at this point stood down the case and when the matter came up again at about 4pm, the judge informed the parties that the day was far spent and adjourned the matter till Tuesday, May 27, 2025 and released the defendant to his lawyer upon undertaking in writing to produce him in court on the adjourned date for the consideration of his bail application.

Alleged $1,043, 000 Fraud: Supreme Court Revokes Fred Ajudua’s Bail, Returns him to Prison

Our Reporters1 month ago1 month ago03 mins

The Supreme Court on Friday, May 5, 2025 allowed an appeal made by the Economic and Financial Crimes Commission, EFCC, against the decision of the Court of Appeal, Lagos Division which granted bail to a socialite, Fred Ajudua. Ajudua is standing trial for allegedly obtaining the sum of $ 1,043,000( One Million, Forty Three Thousand Dollars from a Palestinian, Zad Abu Zalaf, in fraudulent circumstances. At the beginning of trial in 2005 before Justice M.O Obadina of the Lagos State High Court sitting in Ikeja, Ajudua employed several legal technicalities to stall proceedings which made his arraignment difficult until the matter was re- assigned to Justice J. E Oyefeso and later Justice M. A Dada before whom he was arraigned on June 4, 2018. Ajudua challenged his denial of bail at the Lagos Court of Appeal and the appellate court granted him bail on September 10, 2018. Dissatisfied with the judgment, the EFCC approached the apex court in suit number SC/ 51C/ 2019. challenging the judgment of the appellate court. The Commission also entered another appeal before the apex court in suit number SC/912C/2018 against the Court of Appeal Lagos’ judgment ordering the case to be transferred from the court of Justice Dada of the Lagos State High Court to another judge for the case to start de novo. Delivering judgment on the appeals on Friday, the Supreme Court allowed the EFCC’s appeals and revoked Ajudua’s bail granted to him by the Court of Appeal, Lagos and reinstated the ruling of Justice Dada which declined to grant him bail. The Supreme Court also ordered that Fred Ajudua be remanded in the Correctional Centre). The Court further directed that the Chief Judge of Lagos State should reassign the case to Justice Dada to continue the trial. The apex court further held that the appeal in appeal no SC/912C/2019 has become academic since the payer in that appeal was against an order of the Court of Appeal, Lagos, transferring the case to another court to start the case de novo.

EFCC Arrests Socialite E-Money For Abusing Naira

Our Reporters2 months ago2 months ago21 mins

The Economic and Financial Crimes Commission (EFCC) has arrested businessman and socialite, Emeka Okonkwo, popularly known as E-Money. It was learnt that the anti-graft commission arrested E-Money at his Lagos residence on Monday evening. He was subsequently flown to Abuja. E-Money, who is a well-known figure in Nigerian social circles, is the Chief Executive Officer of Emmy Cargoes Nigeria Limited and Five Star Music. It was gathered that E-Money’s arrest is connected to allegations of naira abuse and defacement of foreign currencies levelled against him by the commission. The socialite was said to have sprayed US dollars, an act that contravenes Nigeria’s Foreign Exchange (Monitoring and Miscellaneous Provisions) Act. The EFCC has not confirmed the development.