The Federal High Court in Abuja on Monday refused to grant bail to three detained promoters of Crypto Bridge Exchange accused of involvement in a fraud exceeding $1 billion.

In his ruling, Justice Emeka Nwite held that, based on the affidavit evidence presented by both parties, the case against the defendants appeared strong.

The judge, on April 24, had previously granted the application of the EFCC to arrest and detain six CBEX operators in connection with the alleged fraud.

The order followed an ex parte motion filed by the EFCC’s counsel, Yusuf, which sought detention pending the conclusion of investigations and possible prosecution.

READ ALSO:CBEX: Investors Will Get Their Money Back – EFCC Assures

The six defendants include Adefowora Abiodun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

In the motion ex parte, filed on April 23, the EFCC outlined four grounds for its application, including its statutory duty to prevent and detect financial crimes through investigation.

Yusuf argued that some defendants were at large, necessitating a warrant of arrest to enable proper investigation and prosecution.

According to the EFCC, the defendants, through their company ST Technologies International Limited, promoted CBEX by advertising investment opportunities and luring members of the public to invest cryptocurrencies on the CBEX platform.

READ ALSO:CBEX: EFCC Declares Foreigner Wanted

The agency alleged that the defendants promised unrealistic returns of up to 100%, requiring victims to convert their digital assets into stablecoin (USDT) and deposit them into the suspects’ crypto wallets.

Initially, victims had full access to monitor their investments. However, once deposits surpassed $1 billion, the CBEX platform became inaccessible, and withdrawals were blocked.

Investigations revealed that the scheme was fraudulent and that ST Technologies International Limited, although registered with the Corporate Affairs Commission, was not authorised by the Securities and Exchange Commission to offer investment services.

The EFCC further disclosed that the defendants had vacated their last known addresses in Lagos and Ogun States. A warrant of arrest was thus necessary to trace and apprehend them.

READ ALSO:CBEX Resumes Operations Despite SEC Ban, N1.2tn EFCC Probe

During a hearing on 11 June, counsel for the defendants, Babatunde Busari and Justice Otorudo, argued for bail, citing Section 35(1) and Section 36 of the 1999 Constitution (as amended) and sections of the Administration of Criminal Justice Act, 2015.

They sought to vary the court’s earlier order permitting the EFCC to detain their clients, requesting bail pending the conclusion of investigations, arraignment, and trial.

However, the EFCC opposed the bail application, arguing that the defendants were implicated in a fraud exceeding the budgets of several Nigerian states combined. The commission also noted that new petitions from victims continued to emerge.

READ ALSO:CBEX Fraud: EFCC Declares Two More Wanted

In delivering his ruling, Justice Nwite acknowledged that a formal charge had been filed against the defendants and was awaiting assignment to a court.

He rejected claims that the 1st defendant, Abiodun, required urgent medical attention, stating that the EFCC could provide necessary healthcare.

“In view of the foregoing, and considering the nature of the case, as well as the fact that a formal charge has been filed, I hold that the interest of justice will be best served by transferring this application to the court where the charge is pending for simultaneous arraignment and hearing of the bail application,” the judge declared.

The application was subsequently refused.

There was panic at the Central Mosque in Auchi on Friday afternoon when a swarm of bees invaded the prayer hall, abruptly disrupting Jumaat (Friday) prayers.

Eyewitnesses said the incident occurred just as worshippers had gathered for their weekly congregational prayer, only to be met with a sudden influx of bees that forced them to flee in confusion.

Some described how the swarm descended rapidly into the mosque, prompting an immediate halt to the proceedings.

READ ALSO: Edo Police Arrest Four Suspected Cultists

Amid surprise and apprehension, men and women quickly abandoned their prayer mats, some running outside to avoid potential stings.

Videos shared on social media platforms captured worshippers scattering in alarm as the bees buzzed densely within the closed space.

Local observers noted that this rare occurrence sparked widespread curiosity and concern across the community. Some interpreted the incident as a possible spiritual sign.

One Instagram user expressed the sentiment, questioning whether “this is a sign that Allah was angry? “

READ ALSO: Edo PDP Expresses Concern Over Okpebholo’s ₦100bn Loan, Says ‘It’s Another Conduit Pipe’

However, others cautioned against speculative interpretations, urging calm and practical responses.

A beekeeper explained that such unexpected bee swarms—especially in urban or semi‑urban settings—can naturally occur when hives split and scout bees seek new nesting sites.

“Once a queen is found by scouts, the swarm may cluster temporarily in unusual locations, including buildings. In this case, the Central Mosque—as a large, enclosed space—likely appeared suitable”, he argued.

Meanwhile, the Central Mosque management is expected to clean and inspect the premises before coming Friday prayers.

Residents of Lafiagi in Edu Local Government Area of Kwara State took to the streets on Monday in protest against what they described as worsening insecurity in their communities, including repeated cases of terrorism, kidnapping and killings.

The protesters, predominantly youths from the area, voiced frustration over what they termed government inaction in the face of continued violence.

They were seen in a video clip chanting solidarity songs and waving placards, demanding urgent intervention to curb the bloodshed and abductions disrupting daily life.

READ ALSO: Troops Nab 8 Kidnap Suspects, Rescue 2 Victims In Kwara

The irate youths set fire to the National Drug Law Enforcement Agency, NDLEA, office in Lafiagi and vandalised the palace of the Emir of Lafiagi, smashing windows and damaging parts of the building.

“We have been crying and dying in silence,” a resident said in the video clip. “People are being kidnapped every week. We don’t sleep with both eyes closed anymore, and nobody, neither the governor, the chairman, nor even the Emir, is doing anything about it.”

The protest, sources said, was triggered by accumulated anger over persistent attacks and lack of effective response from local and state authorities.

READ ALSO: Six Kwara SUBEB Officials In Court For Alleged N96m Fraud

“The youths are exhausted, and there has been no concrete action from the government,” a source stated. “The frequency of attacks has increased, which is why the protest erupted today.”

The unrest reportedly escalated as protesters moved toward key government buildings, including security agency offices. According to eyewitnesses, the NDLEA facility was set ablaze during the demonstration.

Lafiagi and neighbouring communities have experienced several abductions in recent weeks, with multiple residents still being held captive.

Families of the victims have reportedly paid substantial ransoms to secure the release of their loved ones.

DAILY POST reports that three Fulani women were abducted in the area on Sunday.