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Former Osun State Governor, Rauf Aregbesola, has denied reports that he travelled to France to meet President Bola Tinubu.
The former Governor clarified that he is in Abuja; hence, there is no way he could have met Tinubu as speculated in some reports.
Naija News reports that Aregbesola made the clarification in a statement on Tuesday by his media adviser, Sola Fasure, following social media reports on Monday alleging that the former Governor of Osun State was in France to meet with President Tinubu, who is on a two-week vacation in Paris.
However, the former Minister of Interior, in debunking the claim, clarified that he is currently in Abuja and has not travelled outside Nigeria.
He urged members of the pubic to disregard reports of any meeting between himself and Tinubu in France.
Fasure said: “Our attention has been drawn to a mischievous report on social media claiming that the former Governor of Osun State, Ogbeni Rauf Aregbesola, is currently in France to meet with President Bola Ahmed Tinubu.
“We wish to categorically state that this is false and there is absolutely no truth to it.
“Ogbeni Aregbesola is presently in Abuja and has not travelled outside the shores of Nigeria.
“The report is entirely false and unfounded and should therefore be totally disregarded.”
In other news, the Special Adviser on Policy Communication to President Bola Tinubu, Daniel Bwala, has dismissed rumors circulating on social media that the president traveled to France for medical treatment.
According to Bwala, President Tinubu is in Paris for a working visit and not for any health-related concerns.
[NAijaNews]
Unregistered Digital Investment Platforms Face 10-yr Jail Term - SEC Cracks Down Amid Outrage Over CBEX Crash
AFOLABI
me Nigerians have taken to social media to express frustration over the recent crash of a high-yield investment platform, CBEX, which netizens have widely described as “MMM Pro Max.”
LEADERSHIP reports that a group of angry individuals stormed the CBEX office in the Oke-Ado area of Ibadan, Oyo State, on Monday evening, looting furniture and other items after the digital trading platform reportedly crashed.
A Nigerian woman identified as Bolarinwa has also trended online after revealing to reporters that she invested her entire life savings, along with funds borrowed from friends, into the scheme after hustling in Libya.
Speaking in pidgin English, she said, “I invested 200 dollars, which I collected from all my friends; all the money was 1,200.
“I go to Libya to work, no work, fighting… see my hands. I came back, and my neighbour told me that the programme on the ground now (CBEX) would help me; I should go and find the money. The small money I bring from Libya I join am.”
Bolariwa explained that despite initial hesitation, peer pressure and desperation pushed her into the investment.
“I did not want to do it. She (my neighbor) collect the money, I saw the money she collected. She said I should join it, that it will make the money times two. So I do it,” she added.
CBEX promised users a 100% return on their investments within one month, exclusively dealing in U.S. dollars. But like many Ponzi schemes before it, the platform crashed without warning.
Multiple users found the platform inaccessible, and withdrawal attempts failed. Within hours, investors logged in only to find their account balances wiped to zero.
The sudden collapse of CBEX has now reignited discussions about financial literacy, regulation, and online investment scams in Nigeria.
The Securities and Exchange Commission (SEC) has issued a public statement, invoking the newly signed Investments and Securities Act, 2025 (ISA 2025).
The commission declared that operating an online foreign exchange or digital asset investment platform in Nigeria without formal registration is illegal.
“By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services,” the SEC said in its Sunday statement.
The Act empowers the SEC to regulate virtual and digital asset exchanges, commodity exchanges, and other investment platforms under Section 3(3)(b), expanding its scope to prevent such schemes from operating unchecked.
SEC’s Director General, Dr. Emomotimi Agama, described ISA 2025 as a “landmark step” toward a safer, more transparent investment environment.
“The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence.
“We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market.”
The commission also reminded the public that operating a Ponzi scheme now carries a minimum penalty of N20 million, with 10 years or more jail terms under the new law.
“N20 million is not the entire penalty. It is just part of the sanctions to be meted out. Promoters of these schemes will face the full weight of the law,” Agama stressed.
Apparently not interested in his party regaining power at the centre in 2027, Akwa Ibom State governor, Pastor Umo Eno, has said that President Bola Tinubu of the All Progressives Congress (APC) will be in office for two terms of eight years.
Eno, a governor elected on the platform of the opposition Peoples Democratic Party (PDP) in 2023, disclosed this at the flag-off of the Akwa Ibom section of the Lagos-Calabar coastal highway project on Tuesday afternoon.
Details Later…
As communities in Bassa Local Government Area (LGA) bury their loved ones killed by marauding gunmen, Governor Caleb Mutfwang of Plateau State has apologised to victims’ families over the failure of government and security agencies to protect them and their properties.
In the Zikke community of the LGA, over 50 people were gunned down in the early hours of Monday, April 14, with houses razed.
Two weeks earlier, scores of people were gruesomely killed in the Bokkos Local Government Area of the state.
During his visit to the Zikke community to commiserate with the people, Mutfwang, speaking at the palace of the Paramount Ruler of the Miango community on Tuesday, admitted that the government has failed to protect them.
He begged the people of the state to forgive him, saying he’d been crying since the latest killings happened.
“I will tell you the truth: I have been crying since yesterday because I had trusted God that all the arrangements were put in place, that this will not happen again. We have made investments in security.
“But like all human arrangements, sometimes they fail. I want to admit that on Sunday night into Monday morning, we failed you. Please, forgive me,” Mutfwang begged.
The governor also urged the people not to relent in their efforts to secure their communities, provide vital information for intelligence gathering, and expose criminals’ antics.
The governor and the entourage also visited some of the families who lost their loved ones in the attack.
In his reaction, Ronku Aka, the Paramount Ruler of Irigwe land and the Brangwe of Irigwe, urged the government to help the communities by providing social amenities in the area.
Popular Singer Osupa Withdraws Defamation Case Against Portable In Kwara After Sowore’s Intervention
Admin
Politician and activist, Omoyele Sowore, has revealed that popular fuji musician Saheed Osupa Akorede has withdrawn his defamation case against fellow singer, Habeeb Okikiola, a.k.a Portable, before an Upper Area Court in Ilorin, Kwara State.
In a post shared on his verified Facebook page on Tuesday afternoon, Sowore said he had a conversation with Osupa, during which the musician explained that his use of the police was intended to show he had no involvement in any attempt to harm Portable. However, Osupa acknowledged that his actions might have been seen as using the police for repression.
As a result, he decided to drop the charges that had led to Portable’s incarceration in a prison in Ilorin after failing to meet bail conditions on Monday.
Sowore maintained that the Nigeria Police Force (NPF) should not be used to enforce civil disputes and called for an end to the misuse of cybercrime charges.
Moment later, Sowore returned to his Facebook page to confirm Portable’s release from Oke Kura Custorial Centre in Ilorin.
[Leadership]
Nigeria’s headline inflation rate rose to 24.23 percent in March, the National Bureau of Statistics (NBS) has stated.
A report by the bureau said the figure was a 1.05 percent increase from the 23.18 percent recorded in February.
Daily Trust reports that this is the first increase of the inflation figure since the NBS rebased the Consumer Price Index (CPI) earlier in the year.
“Looking at the movement, the March 2025 Headline inflation rate showed an increase of 1.05% compared to the February 2025 Headline inflation rate. Furthermore, on a month-on-month basis, the Headline inflation rate in March 2025 was 3.90%, which was 1.85% higher than the rate recorded in February 2025 (2.04%).
“This means that in March 2025, the rate of increase in the average price level is higher than the rate of increase in the average price level in February 2025.”
It explained that contributions of items on the divisional level are food and non-alcoholic beverages, 9.28 percent; restaurants and accommodation services, 2.99 percent; transport, 2.47 percent; housing, water, electricity, gas, and other fuels, 1.95 percent, education services 1.44 percent, health 1.40 percent.
It said food inflation rate in March 2025 was 21.79 percent on a year-on-year basis.
“However, on a month-on-month basis, the Food inflation rate in March 2025 was 2.18 percent, up by 0.50 percent compared to February 2025 (1.67 percent),” the NBS added.
It attributed the increase to the rise in the average prices of ginger (fresh), garri (Yellow), broken rice (ofada), honey (natural production), crabs, potatoes, plantain flour, periwinkle (unshelled), pepper (fresh), etc.
[DailyTrust]
Former Nigerian vice president, Atiku Abubakar has accused President Bola Tinubu of failing Nigerians in his responsibility as the Commander-in-Chief.
Reacting to the recent killing of over 50 people in Zike community in the Kimakpa area of Kwali district, Bassa Local Government Area of Plateau State, Atiku said such tragedy is a grim reminder of the worsening state of security in Nigeria.
He said that the incident is regrettable and unacceptable and several Nigerians are losing their lives due to the “incompetence of the Tinubu-led administration”
“The protection of lives and property is the primary responsibility of any government. Unfortunately, President Tinubu has failed these citizens and continues to fail the,” Atiku said.
The former vice president while condemning the incessant attack by Boko Haram terrorists in Borno State, said the disturbing developments underscore the total collapse of the current administration’s security policy and architecture.
Calling on the Attorney General of the Federation and the Minister of Justice, to prioritize the prosecution of the criminals, Atiku also said that special courts should be established to fast-track their trials.
“Our justice system must not give the impression that terrorism pays. I am also alarmed by reports of armed criminal groups crossing our borders to carry out attacks. This is a national disgrace and further proof of a failed security framework. Condemnation after the fact is not enough,” he wrote on his X page.
According to Atiku, as long as the criminal continue to move about and go around without any form of punishment they will continue to return to inflict more pain on innocent Nigerians.
In addition, Atiku urged the National Assembly to as a matter of urgency pass legislation that allows state governments to properly arm and equip their security outfits with modern weapons.
He said this action will strengthen Nigeria’s overall security architecture and help relieve the overstretched federal security agencies working overtime to stem these challenges of insecurity.
For community leaders across the country, Atiku said it is important that any form of collaboration with armed groups are rejected. He called for total support Nigeria’s security forces and personnel who has continued to sacrifice their all for the safety and peace of the nation.
![[VIDEO] Unknown gunmen on rampage, kill 3 policemen in Enugu](/media/k2/items/cache/b4a9a8dfd4d36239f77f54c6154b3dad_S.jpg)
A yet to be identified gunmen have killed at least three policemen in Achi, Oji River Local Government Area, Enugu State.
DAILY POST learnt that the incident happened at a checkpoint close to Ozudaa Market, Achi.
Details of the incident are still sketchy as the Police Public Relations Officer of the Enugu Command, SP Daniel Ndukwe could not take his calls.
However, a viral gory video obtained by DAILY POST shows lifeless bodies of the slain policemen.
More to follow….
Watch video on Facebook
https://www.facebook.com/share/v/1Nasrk54MA/
[DailyPost]
On Tuesday, April 15, the Nigeria Immigration Service (NIS) released 11 steps every Nigerian should adopt when renewing their passports.
Stating that the procedure is contactless, the NIS said the new biometric passport application system has been launched in the United States of America, Mexico, Jamaica and Brazil.
According to NIS, the application process which can be accessed on Google Play Store (NIS Mobile) is designed to help Nigerian passport holders carry out their renewal process without visiting any Passport Centre for Biometrics enrollment.
“It is yet to be rolled out in Australia and Nigeria, a future date will be announced for both countries in due course,” the NIS said in statement on its X account.
Below are the steps to follow when applying for contact passport:
1. Download and install the NIS Mobile App from relevant mobile app store(Google Playstore); create a profile and activate your account using a valid email
2. Click on ‘passport application services’ tab on the landing page
3. Proceed with the passport application process as indicated and ensure to choose the self enrollment option.
4. Make payment and note your application ID and Reference No.
5. Click the contactless biometric enrollment option on the passport application services
6. Input your application ID and reference number as required to check eligibility and proceed
7. If you are not eligible, proceed to book appointment via the NIS passport application portal (passport.int.immigration.gov.ng)
8. If eligible proceed with biometric fingerprints and passport photograph enrollment and submit appropriately.
9. Print your application form and payment receipt.
10. Send your old passport including your application form and payment receipt to the processing Embassy in a self-addressed return envelope l refusal to comply with this means that you will not receive your newly produced passport)
11. Wait for your passport to be delivered to the address indicated on your envelope within the stated timeline.
The NIS further listed those eligible for the process to include people aged between 18 and 60 years, those with not more than six months to the expiration on their current passports and those for re-issuance of existing passport.
In addition, the NIS said those for correction of data, replacement of lost or stolen passport and other exceptional cases are not eligible for the contact application process.
Thousands of Nigerians are reeling from the collapse of CBEX, a digital asset trading platform that has reportedly disappeared with more than N1.3 trillion of investors’ funds.
The platform, which lured users with promises of a 100% return on investment within 30 days, abruptly crashed on Monday.
Investors were shocked to find their digital wallets emptied, while CBEX shut down its Telegram channels and froze all withdrawal options.
In a last-ditch attempt to maintain control, CBEX introduced a so-called “verification” process, demanding $100 or $200 from users in exchange for a supposed chance to recover their lost funds—further deepening suspicions of a coordinated scam.
CBEX had presented itself as a secure and transparent digital trading platform, but its sudden disappearance has left investors counting heavy losses in what is now considered one of Nigeria’s largest digital financial scams.
However, its operational model is now under intense scrutiny as accusations of fraud and deceptive tactics surface. The platform allegedly displayed fake withdrawal records to cover up the issues users faced when trying to access their funds.
Reports indicate that user funds disappeared almost immediately after deposit, meaning investors never truly owned or accessed the digital assets they believed they were trading.
CBEX reportedly operated without proper licensing and ran a poorly designed website that mimicked reputable platforms like ByBit to appear legitimate and gain users’ trust.
It was reported that behind the scenes, investors’ deposits were funneled into a TRX (Tron) wallet, quickly converted to USDT and then ETH. Meanwhile, what appeared on users’ dashboards were fake balances — artificially generated figures showing fictitious AI trading profits.
In reality, the scheme ran like a typical Ponzi structure, using funds from new investors to simulate returns for earlier ones.
After the platform’s crash, CBEX introduced a so-called “verification” phase, demanding an extra $100 from users with balances below $1,000, and $200 from those with higher amounts, under the guise of helping them recover their funds.
Analysts have described this as a last-ditch effort to extract more money from desperate victims, possibly to pay a few and sustain the illusion of credibility, while the majority are left defrauded.
[TheNation]
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The leadership of the Indigenous People of Biafra has cautioned youth from the Southeast region against applying for enlistment in the Nigerian Army.
IPOB’s spokesperson, Emma Powerful in a statement on Tuesday, said Military’s call for youths of Igbo extraction to join the Army is aimed at exploiting the people.
Recall that over the weekend, delegates of the Nigerian Military had visited some states in the Southeast and South-South region calling on youth from the area to join the Army.
According to the Army delegates, the number of youths joining the force from the two regions have continued to diminish over time leaving the Igbos with slim chances of ever securing positions in the Military hierarchy in the future
However, reacting to the call, the IPOB accused the Military of planning to use Southeast youths as ‘sacrificial lambs’ in the decade-long insurgency battle, particularly in the northern regions of Nigeria.
“We caution Ndigbo against encouraging and campaigning for Igbo youths to enlist to combat state and foreign-sponsored terrorists who have more resources than the Nigerian Army,” Powerful stated.
According to the IPOB, there are better government job opportunities that youths from the region should be encouraged to apply for rather than being used as expendable assets in the fight against these criminal activities that have become enterprise for many.
“The question is, if the Nigerian Army presents a solid job prospect, will the Nigerian government or its violent military provide Igbo youths with such an opportunity? Are our young people not capable of securing jobs in the Central Bank, NNPC, EFCC, Customs, and other profitable parastatals in Nigeria?
“What actions has the Nigerian government taken to support the families of soldiers who died in active duty defending Nigeria?
“Why were the valiant Igbo soldiers who allied with their peers to prevent Nigeria’s downfall in 1966 characterized, betrayed, and labeled “the Igbo coup plotters,” resulting in the slaughter of thousands of Ndigbo in the North during that same year?” IPOB queried.
Nigerians on several social media platforms have begun to count their losses as a digital asset trading platform popularly known as CBEX reportedly swept over N1.3 trillion from their investors’ accounts.
The digital trading platform crashed on Monday after the money in their investors’ wallets vanished.
CBEX also locked its telegram channels and postponed its withdrawals while giving investors the lifeline of $2,000 for $200 verification and $1,000 for $100 verification.
Analysing the crash on X space organised by Trending X, a cryptocurrency expert and security analyst, Taiwo Owolabi said data has shown that the money was moved to a TRX address (yourself:TDqSquXBgUCLYvYC4XZgrprLK589dkhSCf) and a total volume stolen so far in USDT is $847 million and likely to increase.
Owolabi stressed that the invested funds are gone because CBEX is not a licensed platform, and the creators designed a weak website to look like ByBit, which is a legitimate trading platform.
“They designed the weak website to convince people in the future that it was a security breach that affected them. Apparently, when you make payments, you pay them into a TRX account, and then, immediately, they move it from that TRX wallet, gather it, convert it to USDT, then to ETH. So, when you are logging into your account, there is literally no money on your profile.
“What you see are just numbers. All the daily activities you do to ‘trade’ increase your money. All the AI trading is fake. When it’s time for withdrawal, they will send you another person’s money.
“Since, you won’t be leaving them because of greed. You will most likely put the money back and even more. So, they will use that same money to pay another person. As you spread the word for them, more people will join and do the same.”
What exactly is CBEX?
CBEX is a digital trading asset platform that gives investors 100 per cent Return On Investment in 30 days. Its purported goal was to create a secure, transparent environment for transactions.
However, its operational model now comes under scrutiny as allegations of fraud and deceptive practices emerge. The platform is said to display falsified withdrawal records to mask the difficulties users encounter when trying to access their funds.
Can Nigerians still withdraw their money?
Owolabi, while explaining on the X space, said that in reality, all the funds are gone. Unless people decide to pay the $100 and $200 verification fees, that way, they will settle some people and leave others to languish.
He also maintained that it was the same way popular Ponzi schemes that have duped Nigerians in the past behaved, adding, “It is a rob Peter to pay Paul’ deal.
SEC warns Nigerians against investing in Ponzi schemes
However, amid the growing concerns of the crash, the SEC clarified that, in accordance with the ISA 2025 recently signed by President Bola Tinubu, it is now an offence for any entity to operate an online forex trading platform or provide related services without prior registration with the commission.
“By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.
“Any business entity with the plan of setting up a business in any of these areas is advised to visit the HOD DRM Department of the commission for further direction on how to register with the commission to avoid sanctions,” it added.
The commission noted that “Under the newly enacted legislation, the Securities and Exchange Commission (SEC) is now empowered to regulate a broader scope of market activities as Section 3(3)(b) of the Act explicitly mandates the commission to “register and regulate securities exchanges, commodity exchanges, virtual and digital asset exchanges, and other market venues.”
Speaking on the development, the director general of the commission, Dr Emomotimi Agama, described the new law as “a landmark step in positioning Nigeria’s capital market to be more inclusive, robust, and in tune with global best practices.”
He stated, “The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence, especially in new and previously unregulated segments such as digital asset exchanges and online foreign exchange platforms.”
The commission reaffirmed its commitment to supporting innovation while maintaining strict oversight. “We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market,” Agama added.
Eighteen-year-old Osariemen Unuigbe, a Nigerian-American student of Edo State origin, has been accepted into six Ivy League universities in the United States, including the prestigious Harvard and Yale.
Currently a senior at Egg Harbor Township High School in New Jersey, Osariemen is earning widespread praise for her exceptional academic performance and steadfast pursuit of excellence.
Her parents, Dr. Augustine and Dr. (Mrs.) Florence Unuigbe, expressed their heartfelt joy, describing her achievement as “a great miracle” and giving “all glory to God.”
Osariemen’s impressive resume includes acceptance into the highly competitive Governor’s School of New Jersey, as well as holding numerous leadership positions throughout her academic journey.
She has received a host of academic honours, all highlighting her commitment to personal growth and intellectual achievement.
Recently, Osariemen Unuigbe was named a 2025 “Rising to the Top” scholar by the National Coalition of 100 Black Women, Inc., Southern New Jersey Chapter—another prestigious recognition of her all-around excellence.
Her success reflects the increasing visibility and impact of Nigerian students in U.S. higher education.
The Open Doors Report on International Educational Exchange revealed that Nigerian student enrollment at U.S. institutions reached 20,029 in the 2023/2024 academic year, marking a 13.5% rise from previous years.
The house of representatives has inaugurated a 21-member ad hoc committee to oversee the emergency rule in Rivers state.
Speaking while inaugurating the committee on Tuesday, Tajudeen Abbas, speaker of the house, said the move indicates the parliament’s “dedication to transparent governance and the rule of law in our country”.
On March 18, President Bola Tinubu declared a state of emergency in the Rivers, citing a political crisis.
He also suspended Siminalayi Fubara, governor of the state; his deputy, Ngozi Odu; and all members of the Rivers assembly for a period of six months.
The president appointed Ibok-Ete Ibas, a retired naval chief, as the state’s sole administrator.
Shortly after his appointment, Ibas suspended all political officeholders appointed by Fubara.
During the Monday’s event, Abbas, who expressed support for the state of emergency, recalled how similar measures were implemented under previous administrations, particularly during Olusegun Obasanjo’s tenure, when some serving governors were suspended.
“This decisive action was taken out of genuine patriotism and a deep concern for the security and welfare of both the people of Rivers State and our country as a whole,” he said.
“The President’s extraordinary actions were not taken lightly. They reflect a profound sense of duty and responsibility and a recognition that when democratic institutions falter, decisive action is necessary to protect the interests of the nation. This same sense of duty underpins our proceedings today.”
Abbas said when a state of emergency was declared in some states in the past, the intervention of the national assembly ensured continuity in governance.
He cited section 11(4) of the 1999 constitution, saying it confers on the parliament the authority to make laws for any state in which its legislature is unable to perform its statutory functions. It states that:
“It is paramount to note that the current administration in Rivers state is inherently temporary,” Abbas said.
Abbas said Ibas’ role is “strictly circumscribed”, adding that he is charged with maintaining law and order and ensuring that the basic functions of governance are met only until full democratic governance is restored.
“The administrator is required to operate with the highest levels of transparency and accountability, reporting directly to the national assembly on all matters that pertain to the peace, order and good government of the State as prescribed by the constitution,” Abbas added.
He said the duty of the committee is to monitor the implementation of federal directives and policies in Rivers state, ensure that the caretaker administration adheres to the law, and protect the public interest while facilitating the re-establishment of full democratic governance in the state.
“The members of this committee have been selected with meticulous care by the house leadership based on their integrity, experience, and steadfast dedication to the national interest,” Abbas said.
The speaker asked members of the committee to carry out the assignment with the “highest standards of professionalism, impartiality, and diligence”.
“In fulfilling your mandate, you must conduct your oversight in strict accordance with the constitution and avoid all forms of partisanship or bias,” he told the panel members,” he said.
“It is imperative that you monitor every aspect of the caretaker administration’s conduct, scrutinise public expenditures, and ensure that all federal directives and policies are implemented as intended.
“Moreover, it is expected that you will regularly report your findings to this house in a transparent manner, enabling us to continuously assess the impact of the emergency measures and to take further legislative action if necessary.
“Beyond mere oversight, your work must actively support efforts to restore lasting peace and re-establish a fully functioning democratic system in Rivers state.
“You are called upon to interface with federal agencies, security institutions, and any reconciliation initiatives that may be established, fostering trust among all stakeholders in the process.”
Abbas added that the committee members must be conscientious, forthright and astute in the assignment.
[TheCable]