News

CBEX: Investors Will Get Their Money Back – EFCC Assures

Published

7 months ago

April 16, 2025

The Economic and Financial Crimes Commission (EFCC) has assured Nigerians that efforts are underway to recover funds lost to the collapsed digital investment platform, CryptoBank Exchange (CBEX), which reportedly defrauded investors of N1.3 trillion.

Speaking on Channels Television’s The Morning Brief, EFCC spokesperson, Dele Oyewale said the agency had previously warned the public against Ponzi schemes.

“You’ll recall that on March 11 this year, the Executive Chairman of the EFCC, Mr. Ola Olukoyede, had cause to instruct us to alert Nigerians about 58 Ponzi scheme companies; we came out with a list–that shows that we’re proactive and we have our hands on what is happening.

“So, concerning this CBEX thing, we’re on it; it’s not that we didn’t know, and you know we’ve been alerting Nigerians about ways and means to separate themselves from this type of shenanigans. So, before the calls came, we were working; while the calls were coming, we were working, and even after the calls, we’re still working.”

He emphasised that CBEX is a foreign company operating online without legal status in Nigeria.

“All the area offices that people are saying are in Ibadan and in some other locations are not functional offices. The entire thing is online,” he said.

On unrealistic returns promised by platforms like CBEX, Oyewale cautioned: “If somebody says, ‘Bring your money; I’m going to give you a return in 30 days,’ you know that is not realistic… Even we know that the prevailing interest rate in Nigeria is 27.5.”

He highlighted the importance of compliance with laws like the Money Laundering Act, Proceeds of Crime Act, and Terrorism Financing Act, warning that failure to do so signals trouble ahead.

Oyewale further stated the EFCC is collaborating with global partners to bring the perpetrators to justice.

“Investors are going to get their money back and we’re already working on that. All I’m saying is that this kind of thing could have been averted, but we’re not going to throw our hands up helplessly to say that there’s nothing the EFCC can do about it. No, we’re more responsible; we are more professional than that,” the spokesperson said.

“So, we’ve spread our wings; we’re talking to Interpol, we’re talking to all the necessary agencies across the world to be able to bring all the actors to book and the investors are going to have their money back. It might not be in the short term, but I can assure you that the commission, as the leading anti-corruption agency in Nigeria, is not going to allow investors to just lose their money like that because they are not compliant. No. Escapism is not a solution to any problem,” he added.

News

JUST IN: Police Deal Off PDP National Secretariat

Published

3 hours ago

November 19, 2025

Editor

Operatives of the Nigeria Police on Wednesday sealed the National Secretariat of the Peoples Democratic Party, PDP, at Wadata Plaza, Abuja.

The development is linked to the face-off between two factions of the party on Tuesday.

Pandemonium broke out at the facility on Tuesday when the Saminu Turaki-led faction clashed with members loyal to the Minister of the Federal Capital Territory, Nyesom Wike.

Governor Seyi Makinde of Oyo State and his Bauchi counterpart, Bala Mohammed, were teargassed during the confrontation.

DAILY POST observed on Wednesday that barbed wire was used to create a barrier to prevent anyone from gaining access to the premises.

None of the leaders of the two warring groups was sighted at the secretariat, as only a handful of policemen were on the ground.

However, supporters of the faction led by Kabiru Turaki opposed the decision of the police to barricade the premises.

News

JUST IN: Insecurity: Tinubu Suspends Trip To G20, AU-EU Summit

Published

3 hours ago

November 19, 2025

Editor

President Bola Ahmed Tinubu has put off his scheduled trip to Johannesburg, South Africa and Luanda, Angola, as he awaits further security briefings on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.

This was contained in a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, on Wednesday in Abuja.

The statement said Tinubu has ordered the deployment of more security operatives to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers.

The President Tinubu was scheduled to leave Abuja on Wednesday to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.

“Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.

“He now awaits reports from Vice President Kashim Shettima, who paid a sympathetic visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara,” the statement said.

According to the statement, the President reiterated his directive to the security agencies to do everything possible to rescue the 24 schoolgirls abducted by the bandits and bring the girls back home safe.

News

IPF Holds Annual Ijaw Media Conference December

Published

17 hours ago

November 19, 2025

Editor

The Ijaw Publishers’ Forum has announced the second edition of its annual Ijaw Media Conference.

The conference themed “Safeguarding Oil and Gas Natural Resources for Future Generations in the Niger Delta” will take place on December 11, 2025, at KFT Place, beginning at 12 noon.

In a statement signed by the IPF National President, Comrade Ozobo Austin, the Forum noted that the conference is intended to strengthen public understanding of the dangers of oil theft, unchecked exploitation, and environmental pollution.

The statement highlighted the severe harm these practices inflict on the region, affecting both ecological systems and human communities and hindering long-term development.

The 2025 planning committee, chaired by Arex Akemotubo, has Tare Magbei as Secretary. The committee is charged with the responsibility of a successful programme.

Other members of the committee are:
Francis Abai, Financial Secretary while
Ezekiel Kagbala, Sunday Daniel; Mike Ugedi, Dr Kegbe, Sam Dogitimi,
Tam Okumbiri, serve as members.

The Forum urged leaders, stakeholders, and young people to work with relevant authorities and security groups to support continued public awareness efforts aimed at protecting the region’s natural resources and the wellbeing of its inhabitants.

The IPF also called for sponsorship and invites all stakeholders and the wider public to attend the conference on December 11, 2025