Metro

Court Grants Two CBEX Promoters N10m Bail Each

Published

5 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

Alleged Organ Harvesting: Bereaved Families Rush To Check Corpses

Published

1 day ago

December 18, 2025

Editor

Families who deposited their deceased relations at the Aigbe Mortuary, Akugbe Street, off Upper Sakponba Road, Benin City, have since Monday been besieging the facility to ascertain the condition of their loved ones.

This followed the discovery of an alleged case of organ harvesting at the mortuary.

A mortuary attendant was arrested by operatives of the Edo State Police Command as a result of the incident.

A visit to the hospital, which operates the mortuary and serves the densely populated Upper Sakponba area, revealed that some family members were present to check the condition of the corpses they deposited, while others made frantic efforts to transfer their deceased relatives to other mortuaries.

Osariemen Desmond who happens to be one of the persons who were at mortuary said his late mother’s corpse was deposited at the mortuary, adding that he was there to ensure nothing had happened to her remains, as the family plans to bury her next year.

“I am here because of the story we heard about organ harvesting last Friday. I just want to be sure that my mother’s corpse is safe. Many people have been coming since Monday to transfer the corpses of their deceased family members to other mortuaries, while others just came to be sure that nothing has happened to the corpses they deposited. But for me, I am here to be sure that my mum’s corpse is intact,” he said.

However, a member of staff of the hospital, who declined to have his name in print, said the mortuary had never been involved in organ harvesting.

He explained that the deceased whose corpse was allegedly tampered with had died as a result of poisoning, which may have affected his internal organs.

“There is nothing like organ harvesting here. The man in question died from poisoning, and that may have affected his internal organs,” he said.

However, the Edo State Police Command, in a statement released by its Police Public Relations Officer, ASP Eno Ikoedem, said the Command had launched an investigation into the matter and would ensure that anyone found guilty faces the full weight of the law.

She said: “The Edo State Police Command has launched an intensive and far-reaching investigation into a disturbing allegation of unlawful tampering with a human corpse and theft of human parts at Akugbe Mortuary, located along Upper Sakponba Road, Benin City—an incident that sparked public outrage and nearly culminated in mob violence.

“On December 12, 2025, the Command received an urgent distress call indicating that a mortuary attendant was on the verge of being lynched by an irate crowd over allegations of organ harvesting. Acting with swift precision, the Divisional Police Officer, Ugbekun Division, immediately mobilised operatives to the scene and successfully rescued the suspect, thereby averting a breakdown of law and order.

“Preliminary investigations revealed that one Marvelous Odeh and others had visited the mortuary to claim the corpse of the late Uyi Enogieru for burial. However, upon completion of the required formalities, it was discovered that the corpse had been unlawfully interfered with and that some body parts were missing, prompting a report to the Police.

“The suspect has since been taken into custody and, on the directive of the Commissioner of Police, Edo State Command, CP Monday Agbonika, fdc, the case has been transferred to the State Criminal Investigation Department (SCID) for a thorough, professional, and discreet investigation to unravel the circumstances surrounding the incident.”

Metro

Suspected Kidnappers Abduct 18 Passengers On Benin-Akure Road

Published

3 days ago

December 15, 2025

Editor

Kidnappers have abducted 18 passengers along the Benin-Akure highway, near Obarenren village, Ovia North East Local Government Area of Edo State.

The kidnappers were said to have fired sporadically before taking their victims into the bush.

Edo State Police Command’s Public Relations Officer, Eno Ikoedem, confirmed the incident in Benin on Monday.

Ikoedem, while stating that a joint security operation had launched a manhunt for the abductors, added that a “massive bush combing led to the rescue of 11 victims.”

The PPRO, who said efforts were on to rescue other victims, noted: “The incident happened last Saturday. The passengers were in a 18-seater Big Joe bus. We have been combing the bush in collaboration with the Nigerian Army.

“No Arrest has been made yet.”

Metro

NDLEA Seizes 457kg of Cannabis, Arrests Suspected Trafficker In Edo

Published

3 days ago

December 15, 2025

Editor

Photo: file copy

Operatives the National Drug Law Enforcement Agency (NDLEA), Edo State Command, have arrested a 44-year-old suspected drug trafficker, Ohiomah Igbafe, at Uroe community in Owan East Local Government Area of Edo State.

The command also seized 457 kilograms of skunk cannabis concealed at the suspect’s hideout
in the operation that took place on December 9, 2025,

The State Commander of the anti-narcotic agency, Mitchell Ofoyeju, who disclosed this in a press statement said: “The suspect was found in possession of 15 bags of cannabis sativa weighing a total of 457 kilograms, in addition to a separate sack containing four kilograms of cannabis seeds.”

He described the arrest as a significant milestone in the agency’s ongoing campaign against drug trafficking in the state.

He said: “The operation reflects our undying commitment to the eradication of drug trafficking within Edo State. The quantity of illegal drugs seized in this raid represents a serious threat to public health and safety. This level of success encourages us to continue to confront drug cartels relentlessly.”

He added that the agency would not relent in its efforts to dismantle criminal drug networks, warning that offenders would be pursued without mercy.

“We want to send a clear message that drug traffickers and their collaborators have no safe harbour in Edo State.”