News
CBEX: Investors Will Get Their Money Back – EFCC Assures
Published
4 months agoon
By
Editor
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.
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“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.”
READ ALSO: EFCC Arrests Bauchi Accountant General Over Alleged N70bn Fraud
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.
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News
Okpebholo Announces ‘Massive’ Youth Recruitment Into Edo Civil Service
Published
12 hours agoon
August 13, 2025By
Editor
Governor Monday Okpebholo of Edo State has announced plans to recruit youths into the state civil service.
Speaking at the All Progressives Congress campaign rally in Irrua, Esan Central Local Government Area, ahead of the August 16, 2025, Edo Central Senatorial by-election, the governor said it’s part of his administration’s effort to combat unemployment and accelerate Edo’s development.
He expressed his passion for his people and an unwavering commitment to building a better future.
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Unveiling his new civil service recruitment plan, the governor disclosed that he had instructed the Secretary to the State Government, Musa Ikhilor, to begin the process without delay.
“We are going to massively employ our young people,” he affirmed. “Creating opportunities for our youths is the greatest investment we can make for the future of Edo.”
News
Edo Govt To Open Up Riverine Communities For Development — Deputy Gov
Published
12 hours agoon
August 13, 2025By
Editor
The deputy governor of Edo state, Hon Dennis Idahosa, has said that the Monday Okpebholo-led administration will open up riverine communities in the state for sustainable development.
According to a statement signed by his Chief Press Secretary, Friday Aghedo, Idahosa stated this at Inikorogha in Ovia South West Local Government Area of the state during the All Progressives Congress (APC) campaign rally for Saturday’s Ovia Federal Constituency by-election.
He told the gathering that the new administration led by Okpebholo is keen to see development across the nook and cranny of the state.
He said all that was needed from the people was support and for them to be patient with the nine month old government that hit the ground running immediately after inauguration.
READ ALSO: By-Election: APC Correcting PDP 8 Years Of Underdevelopment In Edo, Days Idahosa
Idahosa described the Inikorogha community as a peace loving people that had always supported him politically and otherwise.
The deputy, who was adorned by the community in their traditional regalia said, “I have always seen myself as one of your own even before your acceptance of me with this traditional attire.”
“All I need from you is massive votes in support for the APC candidate and our governor on Saturday,” he appealed.
He assured the community that the APC candidate is going to continue with the good work he put up as the representative before his election as deputy governor.
READ ALSO: By-Election: APC Round Off Campaign In Ovia North East LGA, Optimistic Of Victory
“Our candidate, Omosede Igbinedion, is not a neophyte in the business of lawmaking. The party chose her because we are sure of her capacity to deliver.”
While addressing the people, the APC candidate promised to synergise with the deputy governor to bring laudable projects to Ovia federal constituency.
Simirlarly, a chieftain of the party in the community, Ambassador Okubo Robert promised delivery of 100 percent votes for the party.
He noted that the Inikorogha community had always supported the APC in every elections, adding that Saturday’s bye-election will not be any different.
News
How Terrorist Leader, Abubakar Abba, Was arrested – Niger Govt
Published
14 hours agoon
August 13, 2025By
Editor
The Niger State Government has revealed how terrorist leader, Abubakar Abba, was arrested by the Department of State Service in the state.
Abba was the leader of the Mahmuda terror groups, which pitched its tent and operated in Niger and Kwara states.
He was captured in Wawa, the Borgu Local Government Area of Niger State.
Governor Mohammed Bago’s Chief Press Secretary, Bologi Ibrahim, on Wednesday announced Abba’s arrest in a statement in which he said the terror kingpin had been moved to the nation’s capital, Abuja, for further investigation.
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“Yes, it is true. I can confirm that the leader of Mahmuda, which is one of the most dangerous terror groups in West Africa, Abubakar Abba, has been arrested by the DSS.
“He was apprehended alive through an intelligence-led operation by the DSS.
“This is a huge victory for us as a people and as a government, and President Tinubu deserves commendation for this cheering news.
“Abba’s arrest demonstrates the commitment of President Bola Ahmed Tinubu to truly ending insecurity and promoting the well-being of Nigerians,” Ibrahim said.
Mahmuda, an offshoot of the deadly Boko Haram terror group, was also believed to have ties with the Islamic State and was responsible for a series of attacks across Kwara and Niger states.
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The terror group had reportedly launched two attacks in one day in Kwara state on June 3—first killing three villagers in the morning and then four more in the evening, and leaving the community in mourning.
Mahmuda’s foot soldiers, usually clad in camouflage and often riding on motorcycles, continued their rampage, with at least three villagers killed in a fresh assault.
This indicated the group’s sustained threat.
A recent large-scale attack in Kwara reportedly resulted in the killing of seven residents, while several others were abducted.
The terror group had also reportedly struck numerous villages near Kainji Lake National Park while a market in Kwara was also attacked, killing four Fulani men, a local guard, and a 19-year-old bystander.
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Another attack killed 15 vigilantes in Kemanji village.
The Mahmuda terror group reportedly established bases in forested areas linking Niger, Nasarawa, Kwara, and Kogi states.
It carried out activities including illegal mining, forced labour and extortion of herders and farmers.
Meanwhile, the Niger State governor has applauded the DSS operation as a strong demonstration of President Bola Tinubu’s commitment to the safety and welfare of Nigerians.
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