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CBEX: Investors Will Get Their Money Back – EFCC Assures

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.
News
NiMet Warns Of Flash Flooding In 19 States
The Nigerian Meteorological Agency (NiMet) has warned that 19 states across the country may experience flash flooding.
In an advisory issued yesterday, NiMet said increased surface runoff and flash flooding could occur during heavy early rains due to dry and hardened soils that prevent water from properly soaking into the ground.
The agency listed the states likely to be affected as Zamfara, Nasarawa, Kwara, Oyo, Lagos, Ogun, Ekiti, Delta, Imo, Anambra, Enugu, Ebonyi, Akwa Ibom, Cross River, Rivers, Edo, Ondo, and Bayelsa.
NiMet said the possible impacts include flooded roads, traffic disruption, damage to homes, farmlands, and infrastructure, blocked drainage systems, power outages, telecommunication disruptions, and increased risks of injuries and water-borne diseases.
READ ALSO:Meningitis: NiMet Lists High-risk States
The agency advised residents to clear blocked drainage and stay updated with weather and flood alerts.
NiMet also cautioned motorists and pedestrians against driving or walking through flooded areas.
The agency asked relevant authorities and stakeholders to strengthen coordination, preparedness, and emergency response measures to reduce flood-related risks.
“An informed community is a prepared community. Know the risks and act early,” the advisory read.
READ ALSO:NiMet Predicts Three-day Rain, Thunderstorms From Monday
The Federal Government had warned that 14,118 communities in 33 states and the Federal Capital Territory (FCT) are at risk of severe flooding in 2026.
The states include Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kaduna, and Kano.
Others are Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, and Zamfara, and the FCT.
READ ALSO:NiMet Predicts 3-day Thunderstorms, Rains
Meanwhile, Nimet and the National Emergency Management Agency (NEMA) have intensified efforts to improve disaster management in the country with plans to develop a national early warning system roadmap.
The move was announced yesterday during a courtesy visit by the Director General of NEMA, Zubaida Umar, to the Director General of NiMet, Charles Anosike, at the NiMet headquarters in Abuja.
Mrs Umar applauded NiMet for the timely release of the 2026 Seasonal Climate Prediction and its consistent weather forecasts, noting that the agency had recorded significant improvements under Prof. Anosike’s leadership.
News
‘Nothing New’ – Wike Defends Houses For Judges, Dismisses NBA Criticism
Federal Capital Territory, FCT, Minister, Nyesom Wike, on Friday defended the construction of houses for judges and justices in Abuja, dismissing concerns that the projects could compromise the independence of the judiciary.
Wike spoke after inspecting ongoing judicial infrastructure projects, including judges’ residences, the Court of Appeal Abuja Division and proposed residential projects for judges of the Industrial Court and the Code of Conduct Tribunal.
The minister’s remarks followed criticisms reportedly raised by the Nigerian Bar Association (NBA) over executive involvement in the provision of infrastructure for the judiciary.
Rejecting the concerns, Wike argued that government provision of facilities for judicial officers was neither new nor a threat to judicial autonomy.
He said: “The mere fact that the executive constructs buildings does not mean it will interfere with the judiciary.
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“We have built public houses for the National Assembly and for the judiciary before. The Supreme Court was built by government. So there is nothing new in this.”
Wike accused the NBA leadership of inconsistency, alleging that the association frequently sought financial support from state governments for its conferences and activities while criticising government interventions in the judiciary.
“All they are interested in is when state governments will sponsor NBA activities. If governments fund their conferences, does that mean they are no longer independent?” he queried.
He maintained that the FCT Administration would not be distracted from implementing projects designed to improve the welfare and working conditions of judges and justices.
“This is a voluntary act by government to make judicial officers comfortable and focused on their work. It is not done to erode judicial independence,” the minister added.
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Wike said the projects formed part of activities lined up to mark President Bola Tinubu’s third anniversary in office.
He expressed satisfaction with the completion level of the judges’ quarters, describing the project as well executed and nearly ready for inauguration.
“We’ve seen the judges’ quarters beautiful. I’m very elated that the job was done well. The houses are well furnished and almost 99 per cent ready,” he stated.
The minister also disclosed that preparations had begun for the groundbreaking ceremony of residences for judges of the Industrial Court and the Code of Conduct Tribunal.
However, he expressed dissatisfaction with aspects of the finishing at the Court of Appeal Abuja Division project, despite its advanced stage of completion.
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“Almost 90 per cent complete, but I must say it’s not the quality I expected. I have told the contractor that several errors must be corrected before inauguration,” he said.
Wike assured that the administration would continue monitoring contractors to ensure all projects are delivered according to specification and within schedule.
“All the promises that have been made, we are going to fulfil them. That is why we are going around to inspect and ensure contractors are ready,” he added.
News
LASG Fixes Dates For Public Service Exams, Releases CBT Guidelines
The Lagos State Government, through the Ministry of Basic and Secondary Education and the Lagos State Examinations Board, has released the timetable and guidelines for the 2026 Public Service Examinations.
In a statement by the Lagos State Government, the announcement, which aligns with a prior circular from the Head of Service with Ref No: CIR/HOS/’26/005 dated January 21, 2026, sets out key instructions for candidates preparing for the exercise.
The examinations will hold between Tuesday, May 12 and Tuesday, May 19, 2026, at the Lagos State Public Service Staff Development Centre (PSSDC), Magodo, Lagos.
They include the Compulsory Examination for all cadres in the State Public Service, the Combined Confirmation/Promotion Examination for Clerical Officers II (CO II) and Clerical Assistants (CA), as well as the External Secretarial Examination.
READ ALSO:Lagos Begins 2026 Civil Service Promotions
According to the board, candidates are expected to begin printing their examination slips from Tuesday, May 5, 2026, through the official portal using their registration login details.
The slip will contain key information such as each candidate’s exam date and time.
“All candidates are required to present valid identification at the examination centre. Acceptable forms of identification include Staff Identity Cards, National Identification Number (NIN) slips, and Lagos State Residents Registration Agency (LASRRA) cards,” the statement said.
Candidates are also required to bring printed copies of their examination slips to the venue and must strictly follow the date and time allocated to them.
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The board further advised candidates to acquaint themselves with basic computer skills ahead of the exercise, as the examinations will be conducted using a Computer-Based Test, CBT, format.
It also warned that dressing must be formal, adding that inappropriate dressing will not be allowed at the examination centre.
Candidates were urged to comply fully with all instructions to ensure a smooth and orderly process.
“The Lagos State Examinations Board urges all candidates to comply fully with these guidelines to ensure a smooth and orderly examination process,” the statement added.
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