News
Aggrieved Investors Storm CBEX Lagos Office, Break Into Premises
Published
2 months agoon
By
Editor
…my wife pushed me into it, victim recounts ordeal
…my wife and I lost over $7,000, says another victim
Irate investors in the early hours on Wednesday, stormed the office of Crypto Bridge Exchange Smart-Treasures, widely known as CBEX, located at Number 166, Idimu Road, Seliat Bus Stop in the Egbeda-Idimu area of Lagos State, breaking into the premises in search of officials in charge over the crashed trading platform, with yet to be ascertained billions of money.
CBEX was an artificial intelligence-powered cryptocurrency trading platform that allows users to buy and sell digital assets with promises of “100 per cent returns every month.”
When Vanguard visited the office at Egbeda, Alimosho Local Government area of the state, the apparently angry affected investors in their large number, invaded the premises as early as 9 am, broke into the offices after forcing their way through the main gate but could not gain access into the main office.
The office which usually bubbles with various activities has remained deserted as no staff or security could be seen on sight.
The armed policemen, including Rapid Response Squad, RRS, who have been drafted to the area from Lagos State Police Command from Idimu Area “M’ later arrived the scene in their patrol vans at about 10 am to maintain security of lives and property, as well as to prevent a possible breakdown of law and order.
As at press time, it could not be confirmed if there was arrest of suspects involved in the scam or the landlord of the building housing CBEX.
Recall that the action followed high tensions last Friday when CBEX subscribers/investors started noticing that the platform had crashed, locking them out and rendering them unable to access their funds.
READ ALSO: CBEX: Investors Will Get Their Money Back – EFCC Assures
Responding to the CBEX experience, the Securities and Exchange Commission had reiterated that under the newly enacted Investments and Securities Act 2025, it is now illegal to operate any digital asset exchange or online forex trading platform in Nigeria without formal registration.
In a statement released earlier on Sunday, the SEC stressed that by the new law, “it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.”
Meanwhile, on Wednesday, Vanguard observed some victims in tears who claimed to have lost millions of money on the crashed CBEX trading platform.
One of the victims, who simply identified himself as Mr. Segun, about 35yrs, lamented the situation calling on relevant authorities to come to victims’ aid.
According to Segun, “How do I start now.? This place is being used as their office for the crypto trading business called CBEX.
“I was actually confused initially because you see online one China Inner Beijing Equity Exchange and you see another CBEX which is this one, Crypto Bridge Exchange Smart-Treasures. They promised AI technology assisted Crypto trading and in 30 days we get 100 per cent returns of investment being done in dollars.
“You bring in naira equivalent of dollars and put it into CBEX account for trading with huge returns of investment. The persons that introduced me have been on the platform for months before it crashed now and gained huge amounts already. Someone, even built a house through it.
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“In the office, they displayed Nigerian Security Exchange, NSE, certificate, EFCC certificate displayed on their wall, lavishly furnished office that leaves no room for doubts. They conduct seminars every Wednesday and Saturday that are filled up. They just opened another office at Ikeja. They have at Ikorodu as well.
“I joined not quite long ago with $1, 700, about N1.7million investment, now I’m at crossroad. I got that money from a cooperative loan I collected with the plan of repaying after making my return.
”Someone, I know lost over $8,000, others, $4,000, and so on, running into trillions of naira.
“We use this opportunity to plead with government and relevant authorities to get on top of this and protect the citizens they swore to protect.
“My wife actually pushed me into it. She advised me strongly to take advantage of it that I should withdraw my dormant savings in First Bank and invest in CBEX. I did it, see where it landed me today. I thought I was smart before, but I have been scammed eventually.
“Though, a lot of people who joined earlier have made millions of naira from it. I was just unfortunate.
“These Ponzi operators do have targets. Once they attain some level of percentage of money then they strike.
READ ALSO: EFCC Arrests Bauchi Accountant General Over Alleged N70bn Fraud
“I just realized why they (scammers) scam people now. The kind of money they saw within the little time they started even they did not believe they could realize it. Over a trillion naira was realized.
“I was convinced and confused because they were into crypto trading which is a legitimate business. They said with crypto, if you put N1 million today you can also make N1 million immediately, making it N2 million in total and vice-versa.
“A pensioner, old man died yesterday because of the loss. He just held his chest and passed. Also, a medical doctor is on bed over the loss, at Abule Egba-Ilepo General Hospital now. About 50 nurses are affected, I can tell you authoritatively.
“We learnt that a victim, woman also committed suicide yesterday after learning of the crash. We learnt that she obtained a loan and handed it to her husband to invest in CBEX. Even ICT experts, bankers were also victims.
“Recently, in the last moment they (CBEX officials) were encouraging investors that the money is safe. At some point they said that scammers hacked into their account and have to repack everyone’s money for safety and when the coast is clear it would be restored before this bubble burst.”
Also, Mr. Victor Ozime, a victim, claimed he lost $4,000, while his wife lost $3,000. We are on ground zero. How do we finance our children school fees and pay house rent. I had so many plans for the money. Right now, I feel like ending it all.”
(VANGUARD)
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News
OPINION: Herdsmen And Crabs Swimming In Benue’s River Of Blood
Published
1 hour agoon
June 20, 2025By
Editor
Tunde Odesola
Long before man dug a hole in every inch of the earth searching for oil, the crab had been in the business of oil drilling. The crab’s house – I mean its burrow – not its shell, is an oil rig at work.
For many Great Akokites, the most beautiful site in the University of Lagos isn’t the 13-storey Senate Building or the golden auditorium – it’s the Lagoon Front. The Lagoon Front is the wide-armed rendezvous where the vast Lagos Lagoon kisses Akoka’s scholarly shoreline, ohing and ahing as water caresses the bank…swoosh, slosh, splosh.
By day, the Lagoon Front is home to thinkers. By night, it’s a love nest to Romeos and Juliets exploring a soft-lit Eden. I was both thinker and wanderer, often tracing the scenic curvy road past the Lagoon Front toward the vice chancellor’s lodge, feet shuffling, thoughts flowing. Great Akokites! Great!
As a student, I was a regular daytime visitor to the Lagoon Front. There, I encountered the crab in its natural habitat. Its burrows were filled with oil water, and I always wondered what the crab had to do with oil. It never occurred to me to research the phenomenon.
But the song of Adawa King, Admiral Dele Abiodun, the Juju maestro, keeps whispering to me, “Epo ti alakan won se, lati bi odun mejo, ko i t’agolo ofo lo ja si,” meaning: “The palm oil being produced by the crab since three years ago, has not filled a single tin – wasted labour.”
Does the crab produce palm oil? I have answers now. The crab does not produce oil. Science says the claw-bearer burrows into mudflats, mangroves or brackish wetlands, where there’s a high amount of decaying organic materials like leaves, algae, or animal waste.
As these materials decompose, they release natural oils, fatty acids and hydrocarbons, forming the shiny or oily film that cloaks the crab’s burrow. Also, some crabs produce mucus-like substances to reinforce their burrows or line the walls. These secretions can reflect light and appear oily, especially when wet. Science washes oil off the burrow.
However, a morality tale in African mythology tells a story of the crab known locally as Akan or Alakan. The Akan isn’t just an armoured crawler, it’s a drunkard, a debtor, a trickster, who frequents the bar of Adaba the Dove, a brewer and merchant of enjoyment.
Regularly, the crab crawls sideways to the dove’s bar, drinks and stands up to go. “Where’s my money?” the dove asks. “I’ll pay you when I come tomorrow,” the crab replies.
MORE FROM THE AUTHOR:[OPINION] 2027: Tinubu And The Snake
The next day, Mr Crab, carrying his pincers like armoured tanks, comes visiting, drinking and enjoying himself. Dove: “Where’s the money for the drinks?” Crab: “I’ll pay you tomorrow.” Days turn into weeks, and Akan fails to fulfil his promise. A qshouting match ensues one afternoon. Then, friends advise Akan to go and tell a debt collector — the slithering, cold-blooded Ejo the snake, whose business nomenclature is ògò – debt collecting.
The snake agrees to help Adaba retrieve its money from Akan. So, before Akan arrives the next day to binge, the snake is already seated. After drinking, the crab gets up and heads for the door. “Hey! Where’s my money?” “I’ll give it to you tomorrow.” The dove pounces and calls on the snake to help retrieve all his money. Wahala!
No one has seen the crab run so fast. Maybe the drink was anabolic steroids to its 10 legs. But the snake followed in hot chase, with the dove flapping behind them, cooing, “Bere mu kun-kun, bere mu kun-kun,” meaning – Grab it tightly! Grab it tightly!” But the crab narrowly makes it into its burrow. And, the dove becomes even more agitated, cooing wildly, “Bere mu kun-kun, bere mu kun-kun.”
This is a tricky test for the debt-collector, who pauses outside the burrow. Eventually, the snake inches its head into the burrow slowly; there was darkness and silence, then a sharp snap – ‘pai’ – and the snake swirls back outside in severe pain, writhing on the ground without its head. The debtor decapitates the debt collector; the crab has done its worst.
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Nigeria is a crab republic. Since 1999, corruption wore a green-white-green agbada and sat in the saddle of democracy inside Aso Rock, aiding and abetting the crabs called leaders. Nigerian crabby leaders share similarities with the storied crab. Both sets are debtors, drunkards and tricksters.
Though aeons set the fabled crab and Nigeria’s crab-leaders apart, both are experts in fakery – producing fake oil, selling fake hope, and repaying kindness with evil. Nigerian crab leaders are meaner than the devil.
Where else but in the crabholes of Nigeria do herdsmen slaughter villagers by the hundreds without a single arrest? The crab government knows the killers, but peasant lives don’t matter in the burrows, nor do they matter in Benue, the current scene of bloodshed. Herdsmen are gods. Peasants are dogs.
The serpent swallowed its tail a long time ago when Jona-Dumb looked for his shoelace while the nation burnt, and the skeletal tyrant handed over the country to herdsmen before heading to Katsina ranch. Now, the mafia lord, cigar between clenched lips, presses down his Chicago boots on the masses’ neck, toasting to his impending 2027 electoral victory. “It is my turn!”
Since Olusegun Obasanjo’s reign, herdsmen have painted Nigeria red. Yet no killer has ever worn handcuffs (except once), no machete has been brought to court. But the DSS – Department of Supression and Suffocation – is hounding the call for a shadow government.
There is a WIKEd crab in Abuja, roaming freely and wildly – claws up, ready to fight even its own shadow. He epitomises the crab mentality that defines Nigerian politics – drag others down, cling to power, oppress the oppressed, kill and loot.
MORE FROM THE AUTHOR: OPINION: Animals In Human Skin
For security purposes, the mythical crab safeguards its carapace with its protruding eyes, “oju ni alakan fi n sori,” but the crabs lording it over Nigeria don’t give a hoot if herdsmen level a whole state since they have armed escort, armoured cars and their hands in the till.
If you think that Nigerians don’t know that President Bola Tinubu’s visit to Benue was just a photo opportunity aka photo-op, which will not stop the next bloodbath, take a look at the photo of the mother sitting by the wounded child’s bedside in the hospital when the Secretary to the Government of the Federation, George Akume, came calling. Her stare was icy, helpless and distant as if Akume and his well-fed band never existed. The picture captures Nigerians’ regret and loss of hope in the Tinubu government.
Popular social media influencer, Martins Vincent Otse, aka VeryDarkMan, visited Yelewata and interviewed an unnamed resident in the aftermath of the pogrom. The resident said the police engaged the killers, who later used another route to enter Yelewata and massacre.
Specifically, the resident mentioned Fulani herdsmen as the perpetrators of the mass murder carried out on the rainy night. Yes, rain fell, blood flowed, and the government yawned.
As national leader of the All Progressives Congress, I remember Tinubu disagreeing with those accusing herdsmen of being the killers of the daughter of Pa Reuben Fasoranti in 2022. Tinubu had asked, “Where are the cows?” But the police later arrested the killers, and the court sentenced them to death.
I implore Tinubu’s DSS to carry out a nationwide investigation to unravel if the herdsmen rode into Yelewata on cows. Maybe they will find some chewing cud beside the burnt corpses.
In Nigeria’s crab empire, cows roam, killer herdsmen thrive, lands abound without food, and oil wealth is meaningless. What is the name of a big-for-nothing country?
Email: tundeodes2003@yahoo.com
Facebook: @Tunde Odesola
X: @Tunde_Odesola
News
WhatsApp Introduces New Monetisation Features For Channels, Status
Published
1 hour agoon
June 20, 2025By
Editor
WhatsApp has introduced new monetisation features that allow businesses and creators to earn directly from their content on the app.
In a blog post, the platform announced that the tools will be limited to the updates tab, which houses status and channels.
“Today we’re introducing some new features for our Updates tab, which is home to both Channels and Status,” the post reads.
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“These new features will appear only on the Updates tab, away from your personal chats.”
Among the new features is channel subscription, which allows users to support their favourite creators by paying a monthly fee for exclusive content.
The company also unveiled ‘Promoted Channels,’ a tool that lets admins boost their visibility by appearing as recommendations when users explore the channel directory.
The third feature, Ads in Status, will integrate advertisements within the status section to enable businesses to promote products or services and facilitate direct conversations with interested users.
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WhatsApp said ad targeting will rely on limited data, such as a user’s location, language, and interactions within the Updates tab.
According to the company, those who link their WhatsApp to Meta’s accounts centre may also see ads based on their activity across Meta platforms like Facebook and Instagram.
The company stressed that end-to-end encryption remains in place for private chats, groups, and calls.
“Like everything we do at WhatsApp, we’ve built these features in the most private way possible. Your personal messages, calls, and statuses remain end-to-end encrypted,” WhatsApp added.
News
Bridging Gap Between Awareness And Usage: The Role Of Local Influencers In Family Planning Advocacy In Edo
Published
12 hours agoon
June 19, 2025By
Editor
By Joseph Ebi Kanjo
As inflation continues to take a toll globally and Nigeria faces a significant population surge, the need for effective childbirth control—commonly known as family planning—has become more pressing than ever. Family planning is a cornerstone of reproductive health that empowers individuals and couples to make informed decisions about the number and spacing of their children. It is increasingly vital for Nigerians, especially in states like Edo, to adopt this practice to navigate current economic realities.
In Edo State, research shows that awareness of family planning is impressively high. In fact, some studies report that up to 98.5% of women are aware of contraceptive options. Despite this, there remains a significant disparity between awareness and actual usage, particularly among women. This gap highlights the urgent need for more targeted and effective interventions to boost contraceptive uptake.
Traditional media platforms such as radio, television, and print media have played essential roles in raising awareness. Additionally, non-governmental organizations (NGOs), in collaboration with the Edo State government, have contributed significantly to this progress. However, while these efforts have laid a solid foundation, the low adoption rate suggests that more innovative and culturally sensitive strategies are required.
READ ALSO: Economic Hardship: There Is Need For More Family Planning – Expert
One promising approach is the use of local influencers. Social media influencers with large, engaged audiences can be powerful advocates for family planning. Their ability to communicate directly and credibly with young people and communities makes them ideal for spreading accurate information about the benefits of family planning. These benefits include improved reproductive health, lower maternal and infant mortality rates, and enhanced economic empowerment for families.
Beyond social media, engaging community leaders, traditional rulers, and other local opinion leaders can also be highly effective. These individuals often hold deep-rooted influence within their communities and can help dispel myths and misconceptions surrounding family planning. Their involvement adds a layer of trust and cultural relevance that is often lacking in conventional media campaigns.
Dr. Bright Oniovokukor, in a recent presentation, emphasized the importance of involving local influencers in family planning advocacy in Edo State. He argued that partnering with individuals who understand local customs and values can significantly enhance the reach and impact of advocacy efforts. He called on NGOs, community leaders, and policymakers to actively engage local influencers in driving family planning campaigns across the state.
In conclusion, while Edo State has made commendable progress in raising awareness about family planning, bridging the gap between awareness and usage requires fresh, community-focused approaches. Leveraging the influence of trusted local figures—both online and offline—could be the key to achieving meaningful change in reproductive health behaviors and outcomes.
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- WhatsApp Introduces New Monetisation Features For Channels, Status
- Enabulele Hails Edo-born Athletes’ International Feats
- Bridging Gap Between Awareness And Usage: The Role Of Local Influencers In Family Planning Advocacy In Edo
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