The Securities and Exchange Commission (SEC) has warned Nigerians to be cautious of a rising wave of artificial intelligence (AI)-driven scams that are targeting unsuspecting investors with promises of guaranteed profits and fake celebrity endorsements.

The Commission, in a statement, recalled that platforms such as CBEX, Silverkuun, and TOFRO were operating illegally by advertising AI-powered trading systems that promised unrealistic returns.

“These platforms are not registered or regulated by the SEC, yet they continue to mislead the public with false claims of AI-driven investments. They pose serious risks to investors; hence, the Commission issued a series of disclaimers against their activities,” the Commission stated.

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The SEC explained that fraudsters are increasingly turning to deepfake videos and AI-generated content to lure victims, noting that manipulated videos featuring politicians, celebrities, and television hosts are being shared through Facebook adverts, Instagram reels, and Telegram groups to give fraudulent platforms an air of credibility.

According to the Commission, “Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine. This has made traditional fraud detection methods less effective, hence the need for tech-enabled regulation and greater public awareness.”

To counter the growing threat, the SEC explained that it is adopting advanced surveillance systems capable of detecting fraudulent activity in real time, adding that partnerships with the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) are being strengthened to enable data sharing and joint enforcement actions.

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“We are moving from reactive to predictive oversight. This is essential in combating fraud and systemic risks in our market,” the Commission emphasised.

The regulator said it has also engaged social media companies to clamp down on misleading adverts and cautioned influencers against promoting unlicensed investment schemes.

“Any influencer or blogger found to be complicit in promoting illegal platforms will face regulatory sanctions or even prosecution,” the SEC warned.

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The Commission urged Nigerians to take extra precautions before investing, stressing that any scheme promising daily profits, zero risk, or celebrity-backed endorsements should be treated with suspicion.

It stated: “Any investment that guarantees unrealistic returns or uses manipulated videos of public figures should immediately raise a red flag.”

The Commission further encouraged Nigerians to verify the registration status of any investment platform on its website, where a list of licensed Capital Market Operators is available.

It added that investors should confirm that registration numbers displayed on company websites match the details on the SEC portal and avoid platforms that only operate through Telegram or WhatsApp without a verifiable office address.

The newly crowned 44th Olubadan of Ibadanland, Oba Rashidi Ladoja,
The newly crowned 44th Olubadan of Ibadanland, Oba Rashidi Ladoja, has assured both local and foreign investors of an enabling business environment as he reeled out his socio-economic plan.

Ladoja, who made his first appearance at a Thanksgiving service in his honour at the Ascension of Christ Catholic Church, Bodija, Ibadan, stressed the need for the resuscitation of moribund businesses as well as the employment of the teeming youths in Ibadanland.

He said this had become imperative in order to grow the economy of not only Ibadan but Oyo State as a whole.

He stated that the throne of Olubadan was not about status or bead-wearing but about facilitating the socio-economic growth of Ibadanland.

The monarch added that this could only be achieved with the support of all stakeholders.

READ ALSO:BREAKING: Ladoja Crowned 44th Olubadan, Set To Receive Staff Of Office

According to him, “The major assignment before me as Olubadan of Ibadanland is the growth of Ibadanland.

“The status of Olubadan is not about the wearing of status but ensuring the all-round growth of the town.

“To achieve this feat, I will collaborate with the government at all levels to ensure that Ibadan and Oyo State at large maintain their pace-setter status.

“We are all governing Ibadan. I am just the coordinator. You people are the small Olubadans; I am the big Olubadan.

“Ibadan will be greater by God’s grace and with your support. I am now the king of all religious groups in Ibadan.

READ ALSO:BREAKING: Akoko Leaves Placed On Ladoja Ahead Of Crowning As 44th Olubadan

“We have never had a record of religious crisis in Ibadan because members of the various religious groups are represented in each family in Ibadanland.

“Ibadan is a fertile land for investment and economic growth. It shall continue to be well with Ibadan.”

In his congratulatory message, the Archbishop of the Catholic Archdiocese of Ibadan, Most Rev Dr Gabriel Abegunrin, described Ladoja’s installation as the new Olubadan as the unfailing providence of God, who had preserved the life of the monarch with strength and wisdom.

According to him, Ladoja’s longevity is a crown of grace, and his enthronement is a divine mandate which entrusted him with peace, unity and the progress of the Ibadan people.

The cleric hailed Ladoja for commencing his reign with an act of thanksgiving in the house of God, saying the gesture of the new monarch reflected not only his humility before God but also his deep recognition of the sacred duty of fostering harmony among all faiths.

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“Oba Ladoja has set forth a shining example of interfaith goodwill and mutual respect which will long endure as a legacy of his reign.”

Abegunrin said the church and Christian community in Ibadanland commended Ladoja as a father, leader and custodian of Ibadan heritage, pledging the church’s continued prayers and support as it looked forward to collaborating with the monarch in promoting justice, peace and the common good for all residents of Ibadan.

He, however, prayed that God would bless Oba Ladoja with continued good health, wisdom from above and divine guidance to rule with justice, compassion and courage.

The event was attended by the Olubadan-in-Council, the family of the monarch, Iyalodes and well-wishers.
(TRIBUNE)

Operatives of a Special Operations Unit (SOU) of the National Drug Law Enforcement Agency (NDLEA) have arrested two drug kingpins, Victor Nwosa and Felix Chika Obiegbu, after consignments of cocaine, heroin and methamphetamine being prepared for export to Europe and beyond were recovered from their Lagos homes following weeks of intelligence and surveillance on their criminal networks.

While 64-year-old Nwosa paraded himself as a successful textile merchant, 49-year-old Obiegbu was known to many as a businessman in wine distribution, but beneath their outward appearance lay their hidden illicit drug business, unearthed by NDLEA operatives after months of intelligence gathering on the syndicates led by them.

According to a statement by the Director, Media and Advocacy of the NDLEA, Mr Femi Babafemi, on Sunday, at the time they were preparing their consignments for export, NDLEA-SOU operatives, who had kept them under surveillance for months, swooped on them in different parts of Lagos.

Nwosa was arrested on 17 September 2025 at his home at 16, Femi Kila Street, Okota, where 4.33 kilogrammes of heroin and 448 grammes of cocaine were recovered during a search of the house.

In Obiegbu’s case, he was arrested on 11 September at his home at 5 Shada Shonefun Street, Aguda, Surulere, where, in the course of a search, 2.902 kilogrammes of methamphetamine were uncovered and seized.

READ ALSO:NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine

Attempts by suspected suppliers of illicit drugs to terrorists and bandits in Borno and Yobe to move narcotics concealed in the engine compartment of a Mercedes-Benz jeep and in a woman’s travelling bag were also thwarted by NDLEA operatives during stop-and-search operations in the two states.

In Borno State, following weeks of intelligence, NDLEA officers on Saturday arrested Baba Kaka Ibrahim at Njimtilo village while driving a Mercedes-Benz GLK marked JRE 987 AE along Damaturu Road. A search of the vehicle led to the recovery of 39,380 pills of tramadol 225mg and Exol-5 stuffed in the engine compartment of the jeep.

That same day in Yobe State, NDLEA operatives intercepted a woman, Halima Adamu, along the Damaturu-Maiduguri Road, where 39 parcels of Colorado, a synthetic strain of cannabis weighing 1.4 kilogrammes, were found concealed inside the casing of her travelling bag. A swift follow-up operation led to the arrest of another woman linked to the consignment, Habiba Muhammad, at her Baga Road, Maiduguri home.

Two suspects, Aliyu Sani and Yahaya Tata, were arrested on Saturday by NDLEA operatives along the Zaria-Kano Road, Gadar Tamburawa, Kano State, with 30,030 pills of tramadol seized from them, while three suspects – Friday Elebechi, Tobin Godgift and Aya Clement – were arrested by NDLEA operatives at Swali Jetty, Yenagoa, Bayelsa, on 22 September after 12 kilogrammes of skunk, a strain of cannabis, and 50 Diana AAA cartridges were recovered from them.

A 45-year-old ex-convict, Femi Owoeye (aka Do Good), was arrested on 25 September by NDLEA officers at his home at 24 Oke-Igele Street, Ikere Ekiti. He was found in possession of 32 kilogrammes of skunk and 10.5 grammes of tramadol. He had previously been convicted and sentenced to three years’ imprisonment for a similar drug trafficking offence in 2016.

READ ALSO:NDLEA Arrests 65 Suspects In Abia, 7 Prosecuted, Convicted

In Kaduna, a suspect, Adedamola Olayeni, was arrested on 22 September with 404 blocks of skunk weighing 262.6 kilogrammes at the Abuja-Kaduna tollgate. The consignment was found in his Honda Pilot jeep marked MKA 499 TT, coming from Osogbo, Osun State, and heading to Katsina State.

Another suspect, Zubairu Haruna, was found on 24 September with 506 grammes of methamphetamine at the Gwantu-Fadan Karshi checkpoint, Kaduna, while a follow-up operation in Gombe State led to the arrest of the intended receiver of the consignment, Babangida Mohammed.

No fewer than 85,100 pills of tramadol and other opioids were seized from the trio of Dauda Abubakar, Abdullahi Umar and Ismaila Muhammed in the Apapa area of Lagos on 22 September, while NDLEA operatives in Abuja, the following day, 23 September, arrested Opeyemi Ogundipe with 2.1 kilogrammes of Colorado along the Abaji-Gwagwalada Expressway.

In Edo State, NDLEA officers on 23 September destroyed a total of 12,115.6 kilogrammes of skunk on 4.846244 hectares of cannabis plantation at Uromi Forest in Esan West LGA, where two suspects, Ernest Uche and Felix Mugorga, were arrested and 345.5 kilogrammes of processed substance evacuated.

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At Ogu Forest, Igueben LGA, no less than 12,031.245 kilogrammes of the same psychoactive substance were destroyed on 4.438442 hectares of cannabis farm on 24 September, with 106.1 kilogrammes of processed consignment evacuated. A truck conveying 82 bags of skunk concealed in bags of charcoal, with a total weight of 1,025 kilogrammes, was intercepted by NDLEA operatives along Wareke-Auchi Road, Etsako West LGA, on Friday, while two suspects, Kabiru Abdulahi and Anas Safiyanu, were apprehended in connection with the seizure.

While commending the officers and men of the SOU, as well as those of the Borno, Yobe, Edo, Lagos, Kano, Kaduna, FCT, Ekiti and Bayelsa Commands for the arrests, seizures and their dexterity, the Chairman and Chief Executive Officer of the NDLEA, Brig-Gen. Mohamed Marwa (Rtd), urged them and their colleagues nationwide to continue with the ongoing balanced approach to the Agency’s drug control efforts.

He noted that “the success of the various operations across the country underscores our commitment to safeguarding Nigeria from illicit substances that threaten public health and national security. Every gramme of these dangerous drugs we seize and remove from our streets and communities reinforces our determination to protect our youths, disrupt criminal networks, and strengthen national security.”