Metro

Court Grants Two CBEX Promoters N10m Bail Each

Published

4 months ago

July 22, 2025

The Federal High Court in Abuja on Monday granted bail to two detained promoters of Crypto Bridge Exchange in the sum of N10 million each, with two sureties each in like sum.

Justice Mohammed Umar granted bail to Avwerosuo Otorudo and Chukwuebuka Ehirim, with the condition that the sureties must own property worth the bail sum within the jurisdiction of the court.

He further ordered that the addresses of the sureties be verified by the court registrar.

CBEX is a digital platform that became defunct after collecting billions of naira from investors.

Following widespread public outcry after the platform mysteriously disappeared along with investors’ funds, the Economic and Financial Crimes Commission approached Justice Emeka Nwite on April 24, seeking an order to arrest and detain six CBEX promoters over alleged fraud.

Justice Nwite granted the request after the EFCC filed an ex parte motion. He ruled that the suspects be detained pending the conclusion of investigations and potential prosecution.

The six suspects named in the application are Adefowora Abiodun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim, listed as 1st to 6th defendants respectively.

In the motion ex parte dated April 23, and filed by EFCC counsel, Fadila Yusuf, the Commission stated four grounds for its application. Yusuf noted that the EFCC has a statutory mandate to prevent and detect financial crimes through investigations.

She submitted that “the defendants are at large and a warrant of arrest is required to apprehend them for proper investigation and prosecution.”

According to an affidavit filed in support of the motion, the EFCC said it received intelligence in April 2025 about an alleged investment scheme fraud involving the defendants.

It alleged that the defendants and their company, ST Technologies International Limited, used another company, Crypto Bridge Exchange, to carry out the fraudulent scheme.

The EFCC stated that the defendants promised unrealistic returns on investments—up to 100 per cent.

“That the victims were made to convert their digital assets into a stablecoin, USDT, for onward deposit into the suspects’ crypto wallet.

“That the victims were initially given full access to the platform to monitor their investments.

“That after deposits valued at over one billion dollars were made, the CBEX investment platform became inaccessible, and the victims could no longer withdraw their funds.

“That the victims later discovered that the said scheme was a scam.

“That during the course of investigation, it was discovered that ST Technologies International Limited, though registered with the Corporate Affairs Commission, was not licensed by the Securities and Exchange Commission to operate as an investment firm.

“That it was also revealed that the defendants had vacated their last known addresses in Lagos and Ogun States.”

The EFCC stated that a warrant of arrest was necessary to place the defendants on the red watch list to facilitate their apprehension and prosecution.

The Commission asserted that its investigation established a prima facie case of investment fraud and that granting the application would serve the interest of justice.

Following the court’s order, Adefowora Abiodun (1st defendant), Avwerosuo Otorudo (5th defendant), and Chukwuebuka Ehirim (6th defendant) were detained in EFCC custody for investigation.

The trio applied for bail before Justice Nwite on June 30, but the application was denied.

In his ruling, Justice Nwite held that from the totality of the affidavit evidence presented by both parties, the weight of evidence against the defendants was strong.

He also noted that, due to the nature of the case, the EFCC had obtained a remand order from a competent court.

Meanwhile, Otorudo and Ehirim filed a separate bail application before Justice Umar.

At the last hearing on July 7, the court reserved ruling after hearing arguments from their counsel, Justice Otorudo, and opposition from EFCC counsel, Fadila Yusuf.

In delivering his ruling on Monday, Justice Umar granted bail to the duo but adjourned the matter until October 13, for the commencement of trial.

The two defendants were arraigned by the EFCC on an amended three-count charge, marked FHC/ABJ/CR/216/2025, bordering on illegal financial operations and unlicensed investment activities.

They were accused of collecting public funds and promising up to 88 per cent returns on investment without obtaining the necessary regulatory approval.

In a separate proceeding, the EFCC arraigned the 1st defendant, ST Technologies International Limited, and its Managing Director, Adefowora Abiodun (2nd defendant), on an amended eight-count charge dated July 9 and marked FHC/ABJ/CR/215/2025.

Justice Umar fixed July 25 for ruling on Abiodun’s bail application after hearing submissions following the defendants’ arraignment.

The charges include allegations of obtaining money by false pretence, money laundering, and operating a financial institution without a licence from the Central Bank of Nigeria or registration with the SEC.

The defendants pleaded not guilty to the amended charges.

Defence counsel, Babatunde Busari, informed the court of a bail application filed on behalf of Abiodun on June 30 and urged the court to grant bail on liberal terms.

Busari argued that the charges were bailable and that Abiodun had voluntarily submitted himself to the EFCC for investigation.

He also presented a medical report showing that the defendant had an urgent eye condition requiring surgery, which he had been unable to access during 80 days in detention.

“We, therefore, urge the court to admit the defendant to bail, noting that the total monetary value of the claims is around N20 million,” Busari said.

He prayed the court to release Abiodun to him for the purpose of bail.

However, EFCC counsel, Fatsuma Mohammed, strongly opposed the bail application, citing a counter-affidavit filed on July 7.

She urged the court to refuse bail and instead order an expeditious trial, stating that investigation was concluded and the prosecution was ready.

When asked by the judge whether the offence was bailable, Mohammed responded: “The section under which the defendant is charged carries a sentence of seven years upon conviction, which is sufficient to create a flight risk.”

Justice Umar subsequently adjourned the matter to July 25, for ruling and ordered that Abiodun remain in EFCC custody pending the outcome of the bail application.
(PUNCH)

Metro

Gov Kefas Shuts Down Disputed Mosque In Taraba After Deadly Clash

Published

11 hours ago

November 3, 2025

Editor

Taraba state Governor, Agbu Kefas has ordered the temporary closure of the disputed Jumma’at Mosque in Donga Local Government Area, following a violent clash that claimed two lives and left several others injured.

The governor gave the directive during a peace meeting held over the weekend at the Palace of the Gara Donga. The meeting brought together traditional rulers, Islamic scholars, community leaders, youth groups, and representatives from various Muslim sects.

Governor Kefas, who was away on official duties when the incident occurred, said his administration remains committed to promoting unity, fairness, and peaceful coexistence among all religious groups in the state.

He explained that the Traditional Council’s Mosque would remain closed temporarily until the government constructs three new mosques, one each for the Izala-Jos, Izala-Kaduna, and Darika sects.

“This is to ensure fairness, peace, and freedom of worship for all groups. And let me assure you that our Christian brothers under CAN will not be forgotten in the spirit of balance and mutual respect,” Kefas stated.

The governor expressed concern over the divisions that had emerged within the Muslim community in Donga and urged all parties to forgive one another and work toward peace.

“No faith teaches hatred. Religion is meant to draw us closer to God and to one another, not to divide us. As your governor, I am committed to justice, and justice is what gives peace its foundation,” he said.

He emphasized that his administration would not tolerate any act capable of disrupting the peace and development of the state, adding that peace is essential for progress and unity.

Speaking on behalf of the Muslim Council, Malam Musa praised the governor for what he described as a wise and fair decision.

Metro

PHOTOS: NDLEA Dismantles Colos Factory In Lagos, Seizes 16kg Synthetic Cannabis

Published

2 days ago

November 2, 2025

Editor

The National Drug Law Enforcement Agency (NDLEA) has uncovered a clandestine laboratory producing synthetic cannabis, known as Colos, in a residential building at Ajao Estate, Isolo, Lagos.

According to the agency, the raid followed months of surveillance and intelligence gathering on the dometic production of synthetic drugs previously imported into the country. The operation led to the arrest of 30-year-old Stephen Kelechi Imoh, identified as the owner of the laboratory.

Recovered items included 16.2 kilogrammes of freshly produced Colos, 1.7 kilogrammes of ADB-CHMNACA Cannabinol, 4.5 kilogrammes of potassium carbonate, and 91 litres of dibromobutane.

In a separate operation, NDLEA officers raided a suspected drug dealer’s hideout in Mushin, Lagos, where 16 compressed blocks of Ghana Loud and bottles of Colorado were seized. The suspect, identified as 28-year-old Afeez Salisu, was arrested at the scene.

The agency also apprehended a 20-year-old music artist, Godspower George Osahenrumwen, known by his stage name Steady Boy, after he attempted to collect a shipment of cannabis hidden inside three cartons of bathtubs imported from New York. The consignment, weighing 77.2 kilogrammes, had arrived at the Murtala Muhammed International Airport aboard a DHL flight. NDLEA said the artist was acting on behalf of a syndicate led by his manager, Zion Osazee Omigie, who remains at large.

Similar operations were conducted across several states. In Kaduna, NDLEA operatives intercepted over 84,000 capsules of tramadol and arrested a suspect linked to the consignment. Separate arrests were made in Bauchi, Kwara, Edo, Ondo, Ogun, and Taraba States, with seizures including skunk, tramadol, and methamphetamine.

In Ogun State, three suspects were arrested in Abeokuta with 1,779 kilogrammes of skunk after being tracked from the Benin Republic. In Edo, officers intercepted two vehicles conveying 1,455 kilogrammes of the same substance.

In Ondo, nearly three tonnes of skunk were recovered from locations in Ogbese and Akure, while another operation in Badagry, Lagos, led to the seizure of 76.5 litres of skuchies, a cocktail of drugs mixed with blackcurrant.

NDLEA Chairman, Brigadier General Mohamed Buba Marwa (Rtd), commended the agency’s officers for their coordination and commitment. He reaffirmed the NDLEA’s resolve to “dismantle every identified drug syndicate” and ensure that offenders forfeit their assets to the Federal Government.

The agency added that its War Against Drug Abuse (WADA) sensitisation campaign continued across the country, with recent outreach programmes held in schools, religious institutions, and communities to discourage substance abuse among young Nigerians.

Metro

NDLEA Arrests 3 Suspects With 1,779kg Of Cannabis In Ogun

Published

2 days ago

November 2, 2025

Editor

The National Drug Law Enforcement Agency (NDLEA), Ogun State Command, has arrested three suspects for allegedly transporting a large consignment of cannabis sativa weighing 1,779 kilogrammes from the Imeko axis to Abeokuta, the state capital.

The suspects are Rauf Asogba, 28; Seun Olaniyi, 24; and Ayinla Adeniyi, 50.

The NDLEA spokesperson in Ogun State, ASN Harris Musa, confirmed this to newsmen in Abeokuta in a statement on Sunday.

Musa said that the three suspects were intercepted through intelligence-based information and operations in the early hours of Saturday, November 1, 2025, while attempting to transport the illicit drugs from the Imeko axis en route Abeokuta.

He said that the illicit consignment, concealed in a J5 vehicle, was uncovered following sustained surveillance and tactical manoeuvring by operatives of the Command.

The anti-narcotic agency’s Public Relations Officer said that the seizure represents one of the Command’s most remarkable operations in recent times, further demonstrating the NDLEA’s unwavering commitment to dismantling drug trafficking networks and curbing the circulation of illicit substances in the state.

He said, “In the early hours of Saturday, 1st November 2025, operatives of the Command carried out a well-coordinated, intelligence-led operation which resulted in a major interception. Acting swiftly on credible intelligence, the operatives arrested three suspects: Rauf Asogba (Male, 28 years); Seun Olaniyi (Male, 24 years); and Ayinla Adeniyi (Male, 50 years).

“The suspects were apprehended while transporting a large consignment (1.77 tonnes = 1,779 kilogrammes) of cannabis sativa from the Imeko axis en route Abeokuta, the Ogun State capital,” he added.

State Commander, CN Tijjani Rabe, commended the officers involved in the operation for the professionalism, courage, and dedication displayed by them in intercepting the vehicle and arresting the suspects.

Rabe reaffirmed the Command’s determination to sustain the momentum in the ongoing war against drug abuse and illicit trafficking across the state.

He also appealed to members of the public to continue supporting the agency by providing credible and timely information that would aid the NDLEA in achieving its vision of a drug-free Ogun State and, by extension, a drug-free Nigeria.