News
SEC Warns Nigerians Over AI-generated Investment Scams

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.
READ ALSO:20-year-old TikToker Peller Buys N350m Lekki Mansion, Promises To Reveal Secret Benefactors
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.
READ ALSO:FG Security Agency, Nigerian Army Move To Tackle Illicit Small Arms, Light Weapons
“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.
READ ALSO:US Commits $32.5m To Support Food Security In Nigeria
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.
News
Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.
Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.
He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.
READ ALSO: Wale Edun Opens Up After Sack
Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.
“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”
He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.
He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.
Watch the video here
News
Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.
The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.
A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”
Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.
READ ALSO:Children’s Day: Edo Commits To Child Protection
It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.
Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.
The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.
Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.
READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached
Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.
He said all the students, except two, that were rushed to the hospital have been discharged.
Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.
“The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.
“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”
News
Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha
The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.
He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.
READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central
According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.
“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”
Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.
READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration
He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.
“I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”
In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.
The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.
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