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EFCC Secures Court Order to Arrest Six Over $1B CBEX Crypto Scam
The Federal High Court in Abuja has authorized the arrest and detention of six individuals linked to the controversial and now-defunct cryptocurrency investment platform, Crypto Bridge Exchange (CBEX), following allegations of a $1 billion fraud.....KINDLY READ THE FULL STORY HERE▶
Justice Emeka Nwite issued the ruling on Thursday, April 24, 2025, in response to an ex parte application presented by the Economic and Financial Crimes Commission (EFCC). The suspects, including Adefowora Abiodun Olanipekun and Emmanuel Oku, are accused of orchestrating the scheme through a front company known as ST Technologies International Limited.
According to the EFCC, the suspects promoted CBEX as a lucrative crypto investment opportunity, falsely promising up to 100% returns to investors. Many Nigerians were persuaded to convert their digital assets into USDT (a stablecoin), which they deposited into wallets allegedly controlled by the promoters. However, after investors poured over $1 billion into the platform, CBEX suddenly became inaccessible, locking users out of their funds and exposing the fraudulent nature of the operation.
EFCC counsel Fadila Yusuf told the court that the defendants, though not yet in custody, are believed to have international collaborators and are part of a sophisticated scam network. She stressed the need for an arrest warrant and remand order to facilitate further investigations and eventual prosecution under the Administration of Criminal Justice Act.
The EFCC further revealed that while ST Technologies was duly registered with Nigeria’s Corporate Affairs Commission (CAC), it lacked authorization from the Securities and Exchange Commission (SEC) to function as an investment entity.
In granting the EFCC’s request, Justice Nwite found sufficient grounds to issue arrest warrants and approved the Commission’s application to place the suspects on a global Red Notice list through Interpol to aid their capture.
EFCC spokesperson Dele Oyewale reiterated the Commission’s commitment to recovering funds lost by CBEX victims, working with both local and international agencies to bring the perpetrators to justice.
Nigeria Customs Service (NCS) has recorded a historic breakthrough with the emergence of its first female pilot, Superintendent of Customs Nafisat Balogun, who recently earned a commercial multi-engine pilot licence in the United States.....KINDLY READ THE FULL STORY HERE▶
The achievement was celebrated by the Nigeria Customs Technical Hangar Service, marking a significant step in the agency’s drive to strengthen its aviation capacity for surveillance, logistics, and anti-smuggling operations.
At a ceremony attended by senior officers, the Managing Director of the Customs Technical Hangar Service, retired Comptroller of Customs Capt. Kuhi Mbaya, described the development as a landmark moment for the service.
He said Balogun’s transition from cabin crew to certified commercial pilot represents a major breakthrough for the Customs aviation unit and highlights the agency’s commitment to professional growth and inclusivity.
He added that the milestone reflects expanding opportunities within the Service as it continues to integrate air assets into its enforcement and border monitoring operations.
Balogun expressed gratitude for the support she received, noting that her journey required dedication and resilience, while pledging to apply her new skills in advancing the Customs mandate with professionalism and discipline.
The development has been widely described within the Service as an inspiration for greater female participation in technical and specialised roles.
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Osun 2026: APC Candidate Oyebamiji Pledges Inclusive Governance For Non-Indigenes, Interest Groups.
The All Progressives Congress (APC) governorship candidate in Osun State, Asiwaju Bola Oyebamiji (AMBO), has pledged to ensure inclusive governance by integrating non-indigenes and various interest groups if elected in the August 15, 2026 governorship election.....KINDLY READ THE FULL STORY HERE▶
He said his administration would operate a structured system that promotes participation and representation of all segments of society in governance.
The pledge was conveyed by a former lawmaker and ex-Special Adviser on Civic Engagement, Hon. Olatunbosun Oyintiloye, after he represented the candidate at an engagement with members of the Arewa community in Ibokun, Obokun Local Government Area.
Oyintiloye said the plan is aimed at strengthening the link between government and grassroots communities, ensuring public policies reflect citizens’ real needs.
He added that all groups would be actively involved in both policy formulation and implementation to drive development in the state.
Oyebamiji also promised continued engagement with farmers, traders, artisans, and non-indigene communities as key stakeholders in governance.
Responding, leaders of the Arewa community commended past inclusion efforts and pledged support for the APC candidate ahead of the election.
Barely a year after its inauguration in Akwa Ibom State, the African Democratic Congress (ADC) has been plunged into a deep factional crisis.....KINDLY READ THE FULL STORY HERE▶
Multiple factions are now locked in a struggle for control of the party, leaving members uncertain about the legitimate leadership structure.
One faction is led by John Akpanudodehe, a former National Secretary of the All Progressives Congress (APC), while another is headed by the embattled state chairman, Dick Duke.
Although the leader of a third faction could not be immediately confirmed, findings indicate that another group also exists within the party.
Sources further suggest that the Akpanudodehe-led faction is seeking to remove the current chairman through a recently held congress that has sparked controversy.
In response, Dick Duke convened a stakeholders’ meeting over the weekend, where he rejected the legitimacy of the said congress.
He said the party had formally written to the Independent National Electoral Commission (INEC) to distance itself from the exercise, citing a subsisting court order.
According to him, his tenure as state chairman is still valid until May, and any congress conducted before then would be unlawful.
Duke added that the party would only proceed with proper congresses after the expiration of his tenure and the resolution of legal issues, in line with due process.
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