The Economic and Financial Crimes Commission, EFCC, has arrested Kelly Okungbowa, the suspended coordinator of the Edo State Public Safety Response Team, PSRT, for alleged naira abuse.

SOCIETY REPORTERS reports that Kelly Okungbowa, popularly known as “Ebo Stone” was arrested by operatives of the Benin zonal Directorate of the anti-graft agency.

Dele Oyewale, Head, Media and Publicity of the Commission confirmed the arrest in a statement dated March 17, 2025.

Oyewale said the suspect was arrested owing to a viral video where he was seen spraying and mutilating the naira at a bar on March 9, 2025.

The statement read in part: “Operatives of the Benin zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Monday, March 17, 2025 arrested Kelly Okungbowa (a.k. a Ebo Stone) for alleged Naira abuse.

“Okungbowa, who until recently was the coordinator of the Edo State Public Safety Response Team, PSRT, now suspended by the Edo State Government, was arrested owing to a viral video where he was seen spraying and mutilating the naira at a bar on March 9, 2025”,he said.

He said he would be charged to court as soon as investigations are completed.

Meanwhile, the Edo State chapter of the Peoples Democratic Party, PDP, has commended the anti-graft agency for the swift arrest of the suspect.

A statement by Chris Nehikhare, the Publicity Secretary of the State’s caretaker committee of the party, charged EFCC on thorough investigation and diligent prosecution in accordance with the CBN Act of 2007 which criminalised the abuse of naira notes.

“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.

“The swift arrest of Okungbowa who was seen in a viral video spraying and mutilating the Naira sends a strong message that such criminal and irresponsible actions will not be tolerated, regardless of the perpetrator’s position or influence.

“We charge the EFCC to carry out thorough investigation on the matter and ensure diligent prosecution in accordance with the CBN Act of 2007 which criminalises the abuse of naira notes, including spraying, stepping on, or mishandling”, he added.

DAILY POST recalls that the aide to the State Governor, Monday Okpebholo was suspended by the State Government over allegations of extortion, harassment, and unruly behavior.

In the viral video, he was seen spraying naira notes on two exotic dancers, at a bar, on March 9, 2025 in Benin City.

A journey of a thousand miles, in the words of Chinese philosopher Laozi, famously romanticized as Lao Tzu, begins with a single step.

Laozi, also an author, had penned those words to encourage people to start and take action towards their goals in life.

Several decades after Laozi literally gifted the world with this inspiring quote, evidence abounds that a Nigerian businessman, Jubril Adewale Tinubu, CON has been most inspired by it.

It all began when he took a leap of faith to dump Law, a profession he had practiced

with impressive record, while he worked in a family law firm, K.O. Tinubu and Co., from 1990 to 1994.

Tinubu, who obtained a degree in Law from the University of Liverpool and a Master of Law the London School of Economic, wasn’t under any illusion about his next move. His vision was as clear as daylight: to rule the world of oil and gas business.

It was a steely resolve, one that he was convinced would fetch him global recognition in the end.

To achieve this, he carefully profiled two individuals whom he believed would prop him up in this life-defining journey: Omamofe Boyo and Onajite Okoloko.

Following preliminary feasibility studies, the trio floated Ocean and Oil Services Limited in 1994 to supply diesel and Low Pour Fuel Oil (LPFO) to various shipping firms and offshore exploration companies in Nigeria.

From the outset, they were not driven by any inordinate ambition; rather, what was uppermost in their minds was to first register their presence in the nation’s thriving oil and gas sector.

It was a humble beginning, as the budding oil company started out only with a vessel, MT Carolina, anchored in

Bonny Island, Rivers State to supply diesel and Low Pour Fuel Oil (LPFO) to off-shore companies from the Port-Harcourt, Rivers State refinery.

Before the eyes of the morbid critics, Ocean and Oil Services Limited successfully acquired six ships within its six years of operations.

Some four years after, Tinubu and his partners caused a stir when they sought to acquire a 30 % controlling interest in the defunct Unipetrol, following government’s decision to sell its controlling 60% stake in Unipetrol Plc,an integrated downstream oil marketing company.

Though many industry watchers had tagged it a huge joke, it was obvious they were belittling the capabilities of the brains behind the company, which was already showing evidence of a potentially big player.

The planned acquisition, contrary to the naysayers, turned out a dream come through. And by 2001, Ocean and Oil Services had increased its shares in Unipetrol to 42%, owing to the support from its foreign technical partners, Compagnia Espanola De Petroleos (CEPSA), the second largest oil group in Spain.

Since then Tinubu has shown the oil and gas sector that he is not one your run-of-the-mill oil player.

Interestingly, in 2003, almost a decade after it surfaced on the nation’s oil and gas sector, the newly acquired companies were merged, resulting in the historic birth of Oando Limited.

Still consolidating on its gains, Oando Plc, in 2005, secured a cross-border listing on the Johannesburg Stock of Exchange (JSE) in

South Africa in 2005!

In its first 30 years of operations, Oando Plc now prides itself on a number of subsidiaries with staggering value-added services: Oando Marketing Limited, OML, one of the largest downstream petroleum marketing companies in Nigeria with over 500 retail outlets across Nigeria, Ghana, and Togo; Oando Supply and Trading Limited, OST, one of the largest independent traders of crude and refined petroleum products in sub-Saharan Africa incorporated in 2004, among several others.

Unlike its competitors, Oando’s exploits in the upstream journey has continued to attract interesting discourses among industry watchers.

The first shocker was when it secured a 42.75% interest in the marginal field, OML 56.

It later steadied its feet in 2007, with the acquisition of a 15% stake in OML 125 & OML 134.

In 2014, Oando Energy Resources, OER, acquired ConocoPhillips Nigerian assets for $1.8bn (inclusive of working capital), secured a 20% interest in the NAOC-Joint Venture (“the JV”) and augmented its total net 2P reserves to 503 million barrels of oil equivalent (mmboe), with peak net production levels of 45,000 barrels of oil equivalent per day (kboep/d).

A careful study of its rising profile points to the fact that Oando has steadily been eyeing the global stage. And Tinubu is not making any pretense about it. In 2016, it announced that it was divesting from its Naira-earning businesses to focus on its US$-earning portfolio.

It was a well thought out business plan, considering the spate of the sale of its interest in the downstream between 2016 and 2019 as well as its stake in the midstream in 2017.

Ten years after the widely reported purchase of ConocoPhillips Nigerian asset, Oando, in August 2024, completed the acquisition of 100% of Eni’s interest in NAOC, the operating company of the JV, thereby increasing its stake in the JV from 20% to 40%, and securing operatorship of the JV as well as doubling its 2P reserves to 996.2 mmboe.

Tinubu-led Oando has, nevertheless, been hit by the vagaries of business. This flip side to its otherwise enviable feats in the sector was inputted in the annals of the company about 20 years after its quiet but impactful entry into the sector.

To its shareholders holders, the news of the loss of a humongous N184bn in the 2014 financial year was a sour taste in their mouths.

But the company, by the middle of that same year, successfully reversed the doleful story by getting new investors, including Vitol, a Dutch oil trading giant, and Helios Holdings, to put their money in its downstream arm, Oando Marketing.

Obviously, the Oando trajectory is a story waiting to be told. This became more tellingly interesting on February 27, 2025 when news of its selection as the preferred bidder for the Guaracara refinery, Trinidad and Tobago broke.

The awards, no doubt underscores Oando’s track record of reliability, innovation, infrastructure development, which aligns with its corporate strategic vision of expanding across the Caribbean region.

Speaking on the development, Tinubu, the Group Chief Executive Officer, GCEO, described the partnership as “a strategic bridge between Africa and the Caribbean.”

According to him, “Oando’s involvement in the refinery will serve as a catalyst for deeper Afro-Caribbean collaboration in the energy sector, paving the way for increased trade, investment, and knowledge exchange. This initiative underscores Africa’s growing influence in the global energy landscape and highlights the role of indigenous African companies in fostering economic transformation across borders.”

This development, which has been described as compelling chapter in the history of Oando, is a testament to its resolve to steady its feet in the international market.

The Rivers State Assembly on Monday begun proceedings to impeach Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu.

The state House of Assembly served a notice of alleged misconduct on the Governor and his deputy on Monday.

This commenced the process of impeaching Fubara and his deputy from office.

SOCIETY REPORTERS brings you the full list of the allegations being filed against the Governor by the House:

1. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State refused to present the Rivers State Appropriation Bill, 2024 to the Rivers State House of Assembly contrary to Section 121(1)(2) of the Constitution and disobeyed the order of the Federal High Court in Suit no. FHC/ABJ/CS/1613/2023 which declared that “thus as it stands in law, no Appropriation Bill of Rivers State has been presented neither has any of such Bill being passed into law as the purported presentation, passage and signing into law of the Appropriation Bill 2024 of Rivers State is void ab initio” and ordered him to present the Appropriation Bill 2024 to the House.

2. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State authorized or approved withdrawals from the Consolidated Revenue Fund of Rivers State in the 2024 financial year of Rivers State without an appropriation law duly passed by the Rivers State House of Assembly contrary to Section 120 of the Constitution.

3. ”That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State violated Section 122 of the Constitution by authorizing expenditures from the Consolidated Revenue Fund of Rivers State even after the Rivers State House of Assembly declared a shutdown on Rivers State Government expenditure in a resolution passed at the 4′ Legislative day of the Second Session of the 10th Rivers State House of Assembly which held on Monday the 15* day of July 2024, thereby relegating the constitutional resolution passed by the House to the background.

4. ”That on Friday the 28th of February 2025, the Supreme Court of Nigeria before their Lordships Uwani Musa Abba Aji JSC, Ibrahim Mohanned Musa Saulawa JSC, Emmanuel Akomaye Agim JSC, Chioma Egondu Nwosu-Iheme JSC and Jamilu Yammama Tukur JSC in Suit no. SC/CV/1174/2024 restored the Judgement of the Federal High Court in Suit No. FHC/ABJ/CS/984/2024 which confirmed that Sir Siminalayi Fubara GSSRS, Governor of Rivers State never presented an Appropriation Bill for 2024, still does not have an Appropriation Law for 2025 so, ordered that “the Central Bank of Nigeria and the Accountant General of the Federation should forthwith stop releasing and paying to the Government of Rivers State, its organs, departments and officials any money belonging to Rivers State until an Appropriation law is made by Rivers State House of Assembly constituted as prescribed by the 1999 Constitution”.

5. “Hindering or obstructing the Rivers State House of Assembly which is another arm of government protected by the Constitution of the Federal Republic of Nigeria, 1999 (as amended) from performing her constitutional duties.

6. “That His Excellency, Sir Siminalayi Fubara GSSRS ordered and personally supervised the demolition of the Rivers State House of Assembly Hallowed Chamber and Auditorium at the Rivers State House of Assembly Complex, Moscow Road, Port Harcourt on the 13th day of December 2023. This action was in contravention of the ex parte order of the Federal High Court in Suit No.: FHC/ABJ/CS/1613/2013 issued on the 30* of November, 2023 which declared “that the Rivers State House of Assembly is a constitutional institution that needs to be preserved pending the determination of the Motion on Notice dated and filled 29th November, 2023.”

7. “That the Judgement delivered on the 220d of January 2024 in favour of the Rivers State House of Assembly where the presiding judge-Justice J.K Omotosho in Suit No.: FHC/ABJ/CS/1613/2013 condemned the act of demolition and stated that “this Court finds it strange that the 11th defendant as Chief Executive of the State would go to the extent of stopping the authentic House of Assembly from sitting through devious means such as destroying the House of Assembly Complex” is noteworthy.

8. “That the Supreme Court in Suit No.: SC/CV/1174/2024 delivered on the 28 of February 2025 took judicial notice of the illegal demolition and condemned the action of the Governor of Rivers State wherein it was stated that “surprisingly on 13-12-23, in gross violation of the subsisting Order of the trial Court, the appellant demolished Rivers State House of Assembly complex at Moscow Road and secretly arranged four members of the 15 Respondent led by Rt. Hon, Ehie Ogerenye Edison to a place outside the premises of the said House of Assembly and held a sham sitting of the 1s Respondent”.

9. “Appointment of persons to occupy offices/positions in the Rivers
State Government without allowing for the requirement of screening and confirmation as prescribed by the Constitution of the Federal Republic of Nigeria, 1999 (as amended), other extant laws but making the request for screening to persons other than the legitimate Rivers State House of Assembly.

10. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State made several appointments which are in contempt of the Order of the Federal High Court in a Judgement delivered in Suit No.: FHC/ABJ/CS/1613/2023 that prohibited him from dealing with any other persons or House other than the Rivers State House of Assembly under the leadership of Rt. Hon. Martin Chike Amaewhule as Speaker.
This judgement which was upheld by the Court of Appeal and the Supreme Court stated among other things that “AN ORDER is hereby made restraining the 11th Defendant from howsoever or in whatsoever manner making any request, presentation or nomination to the Rivers State House of Assembly except to the Rivers State House of Assembly under the leadership of the 2d Plaintiff as Speaker”.

11. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State failed to forward the name of a nominee for appointment as Attorney-General and Commissioner for Justice in line with Section 192(2) & (6) as well as Section 195(1) of the 1999 Constitution as amended to the legitimate Rivers State House of Assembly as declared by the Judgement of the Federal High Court in FHC/ABJ/CS/1613/2023 but chose to announce one Mr. Dagogo Iboroma to assume the said position.

12. “That His Excellency, Sir Siminalayi Fubara GSSRS illegally swore-in several other persons who were purportedly confirmed by certain individuals for appointment into the Rivers State Executive Council on Tuesday 21st May, 2024 namely- Prince Charles O. Beke; Collins Onunwo; Solomon Eke; Peter Medee; Elloka Tasie-Amadi; Basoene Joshua Benibo; Tambari Sydney Gbara and Ovy Orluideye Chinendum Chukwuma without screening and confirmation by the Rivers State House of Assembly in full compliance with Section 192(2) & (6) of the 1999 Constitution as amended. Others who were sworn in on Tuesday 13th of August 2024 are Illamu Arugu; Rowland Obed Whyte; Samuel Anya; Samuel Eyiba and Austin Emeka Nnadozie while Israel Ngbuelu; Evans Bipi;
Otamiri Ngubo and Benibo Alabraba were sworn in on Monday 7th October 2024. Emmanuel Frank-Fubara was sworn-in on the 8th of July 2024 amounting to a total number of 19 persons parading themselves and misleading Rivers people that they are Commissioners with your tacit approval.

13. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State illegally swore-in Mr. Lawrence Oko-Jaja as Chairman; Earnest Ibekwe Ekwe; Mina Ogbanga; Iseleye Amachree and Adokiye Oyagiri as members of the Rivers State Bureau on Public Procurement on Friday 30th of August 2024 without screening and confirmation by the legitimate Rivers State House of Assembly as stipulated in Section 4(a) of the Rivers State Public Procurement Law No. 4 of 2008. Others are Gift Alex-Hart; Grace Osaronu and Selinah Amonieah as members.

14. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State engaged Mr. Goodlife Ben as Chairman;
Emmanuel Jaja; Betty Warmate; Jerome Chimenem; Prince Ohochukwu; Philip Okparaji and Christian Amadi as members of the Rivers State Local Government Service Commission without screening and confirmation by the legitimate Rivers State House of Assembly contrary to Section 44(3) of the Rivers State Local Government Law No. 5 of 2018.

15. “That His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State made the illegal appointments and refused to rescind his actions even after several letters were sent to him and published in the electronic and print media following resolutions of the house.

16. “His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State seized salaries of some members of the Rivers State House of Assembly which were hitherto paid monthly from the Ministry of Finance of Rivers State. The month of April, 2024 was the last time monthly salaries were paid to Rt. Hon.
Martin Chike Amaewhule; Rt. Hon. Dumle Maol; Hon. Major Jack; Hon. Franklin Uchenna Nwabochi; Hon. Christopher Ofiks Kagbang; Hon. Azeru Opara and Hon. Enemi Alabo George. Others in the same fate are Hon. Granville Tekenari Wellington; Hon. Solomon Wami; Hon. Bernard Mgbar; Hon. John Dominic Iderima; Hon. Queen Uwuma Tony Williams and Hon. Lolo Isaiah Opuende. Hon. Peter Abbey; Hon. Igwe-Obey Aforji; Hon. Justina Emeji; Hon. Ignatius Onwuka; Hon. Chimezie Nwankwo; Hon. Lemchi Prince Nyeche as well as Hon. Barile Nwakoh; Hon. Emilia Lucky Amadi;Hon. Nkemjika Ezekwe; Hon. Davids Arnold Okobiriari; Hon. Sylvanus Nwankwo and Hon. Gerald Oforji are also affected.

17. “His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State seized funds standing to the credit of the Rivers State House of Asembly since the month of April 2024 in a bid to frustrate the House and cripple her activities as well as relegate the Judgement of the Federal High Court in Suit No.: FHC/ABJ/CS/1613/2023 to the background. The Judgement stated that ” AN ORDER OF INJUNCTION is hereby granted restraining the Governor of Rivers State (the 11th Defendant) whether by himself or his servants or agents and/or the executive arm of the Government of Rivers state, including the 12th, 13th and 14th Defendants (by themselves individually or collectively), or by their servants or subordinates from withholding any amount standing to the credit of Rivers State House of Assembly in Consolidated Revenue Fund of Rivers State including salaries and emoluments due and payable to the Speaker, Deputy Speaker, and other members of staff of the House or in any manner whatsoever denying the Rivers State House of Assembly of the due fund for running its affairs including the payment of salaries, allowances, emoluments and meeting its financial obligations no matter how described.”

18. “His Excellency, Sir Siminalayi Fubara GSSRS, Governor of Rivers State illegally withheld the salary of the Clerk of the Rivers State House of Assembly contrary to the Judgement of the Federal High Court in Suit No.: FHC/ABJ/CS/1613/2023 which stated that ” AN ORDER OF INJUNCTION is hereby granted restraining the Governor of Rivers State (the 11h Defendant) whether by himself or his servants or agents and/or the executive arm of the Government of rivers state, including the 12th, 13th and 14th Defendants (by themselves individually or collectively), or by their servants or subordinates from withholding any amount standing to the credit of Rivers State House of Assembly in Consolidated Revenue Fund of Rivers State including salaries and emoluments due and payable to the Speaker, Deputy Speaker, and other members of staff of the House or in any manner whatsoever denying the Rivers State House of Assembly of the due fund for running its affairs including the payment of salaries, allowances, emoluments and meeting its financial obligations no matter how described.”

“Mr. Speaker, we conclude by stating that the Governor has shown that he is not prepared to govern Rivers State in line with the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and his oath of office. The Supreme Court in Suit No.: SC/CV/1174/2024 condemned his actions when it stated that “the 8th respondents fear of impeachment by the House of Assembly is no justification for his attacks on the House of Assembly, the Constitution, the Government of Rivers State and the rule of law. Political disagreements cannot justify these attacks and contempt for the rule of law by the Governor of a State or any person. What the 8th respondent has done is to destroy the government because of fear of being impeached”.