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Tag: EFCC

  • EFCC raises alarm over cybercrime, visa racketeering in Kaduna, seeks NUJ’s support

    EFCC raises alarm over cybercrime, visa racketeering in Kaduna, seeks NUJ’s support

    …you can count on our support – NUJ chair

    The Acting Zonal Director of the Economic and Financial Crimes Commission (EFCC) in Kaduna, Bawa Usman Kaltungo, on Friday paid a courtesy visit to the leadership of the Nigeria Union of Journalists (NUJ), Kaduna State Council, alongside his management team.

    Kaltungo, who was recently posted to the Kaduna Zonal Directorate, expressed appreciation to the NUJ for its longstanding support to the Commission and appealed for continued cooperation in the fight against financial and economic crimes.

    During the visit, the EFCC Zonal Director raised concerns over the rising cases of visa racketeering, cybercrime, and illegal mining in Kaduna State. 

    He urged journalists to use their platforms to enlighten the public on the dangers and consequences of engaging in such unlawful activities.

    In response, the NUJ Chairman, Abdulgafar Alabelewe, assured the EFCC of the Union’s commitment to supporting its efforts through public education and advocacy against financial crimes and other criminal acts.

    Kaltungo also encouraged journalists to always reach out to the Commission for balanced reporting, stressing the importance of protecting the EFCC’s image through accurate and fair reportage.

    “It is part of our routine that whenever a new Zonal Director is appointed we come on courtesy visit to our strategic partners of which NUJ is one of them. It is a thank you visit and to ask for more support like Oliver Twist. The collaboration that is existing between NUJ and EFCC cannot be separated.

    “So we are here to say thank you for all that you have been doing and to encourage you that if there is any report that will portray the Commission in bad image, you can reach out to us so that you can have a balance report. So this is the essence of our coming to you. 

    “You are going to look out for a renewed vigour in the fight against corruption, and this issue of cybercrimes that our youths are indulged in, is becoming alarming. So the Commission is devising new strategy to nip it in the bud.

    “So we don’t want it to spread because if youths who are the leaders of tomorrow and today they are engaged in corruption, so what does it mean tomorrow, does it mean that corrupt people will be in position of leadership tomorrow. It means that there will be no development and progress. It is now incumbent on us to nib it in the bud. 

    Read Also: Lawyers, CSOs storm EFCC HQ with petition against Kyari

    “Another trend that we discovered in Kaduna that is alarming is the issue of Visa racketeering, more especially during lesser Hajj and during pilgrimage, what we call Baban Sallah. You find out that alot of people have been duped of their hard earned money in the name of Visa by traveling agents, in the name of international passport and stuff like that. So many people have parted with their money without getting value for it. It is alarming in Kaduna State. And to worsening it, even married women are involved in it. 

    “So we want to use this opportunity to appeal to couples to advise their fellow couple to desist from such act because it is not our wish to go and arrest married woman but when she got herself involved, definitely the law does not say that married men or women have immunity, we will go after them. So we want to call on the people of Kaduna State and Niger State to make sure that people are not involved in anything that will attract us to them. 

    “Another area that is so disturbing which has terrorism related to, and banditry related to, is the issue of illegal mining which is becoming alarming. Everybody want to go into illegal mining. You cannot go into mining without appropriate documents from appropriate authorities. Mining is exclusive preserve of the federal government. So for any company and for any individual to go into mining they must obtain licence from the federal ministry of mining. You cannot go on your own and start doing mining. 

    “We want to call on the people that are into illegal mining to make sure that they obtain proper license so that they will not incur the wrath of the Commission because by the time we arrest you doing illegal mining, certainly we will take you to Court. And we have been doing that. We want to thank NUJ for the support. And also call on NUJ to continue to corporate with us and support to enlighten the public about what we do and let them understand what we do at the Commission” Kaltungo said.

    In his response, Alabelewe said, First of all, “I want to assure you on behalf of the Nigeria Union of Journalists (NUJ), Kaduna State council that as media practitioners we don’t have option than to support what EFCC is doing because by our training we are socially responsible to the society and as well hold public officers accountable to members of the society. We have enjoyed good working relationship with Kaduna Directorate of the EFCC over the years through the media department. 

    “I want to assure you that we will continue with this good working relationship with the Commission. I want to assure you that NUJ doors are open and anytime you need our services we are willing to render our services. You can reach out to us at anytime and we will do the needful. Once again I welcome you to Kaduna NUJ”.

  • Why court okayed EFCC’s request to arrest, detain six over alleged CBEX fraud

    Why court okayed EFCC’s request to arrest, detain six over alleged CBEX fraud

    A Federal High Court in Abuja on Thursday issued an order to the Economic and Financial Crimes Commission (EFCC) to among others, apprehend, detain and prosecute six individuals alleged to be behind the Crypto Bridge Exchange (CBEX) fraud.

    The EFCC named the said individuals as: Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

    Justice Emeka Nwite issued the order after hearing lawyer to the EFCC, Fadila Yusuf moved an ex-parte motion to that effect.

    Justice Nwite, in a ruling, said: “I have listened to the submission of the learned counsel for the applicant. I have also reviewed the affidavit evidence along with the exhibits and the written address.

    “I am of the view, and I so hold, that the application is meritorious. Consequently, the application is granted as prayed.”

    The judge equally ordered that the EFCC remand the six in custody until the conclusion of it’s investigation and prosecution initiated.

    In a supporting affidavit, the EFCC, among others, accused the six of committing investment fraud exceeding $1billion by alleged promising extraordinarily high returns, with some guarantees reaching up to 100%.

    The EFCC claimed that it received intelligence, suggesting the suspects’ involvement in multiple criminal activities.

    It added: “The defendants are at large, and a warrant of arrest is required to apprehend them for proper investigation and prosecution of this case.”

    The EFCC stated that in April 2025, it received intelligence regarding an alleged investment fraud scheme connected to the suspects.

    It added that the suspects, along with the firm – ST Technologies International Limited and CBEX – engaged in fraudulent activities. 

    The EFCC said case is currently being investigated by its cybercrimes section.

    The anti-graft agency claimed that its preliminary findings revealed significant details, including that the six suspects, allegedly acting through ST Technologies International Limited, promoted CBEX by advertising and persuading unsuspecting members of the public to invest in cryptocurrencies on the CBEX platform.

    It further claimed: “Victims were instructed to convert their digital assets into USDT (a stablecoin) for deposit into the suspects’ crypto wallet. Initially, the victims were given full access to the platform to monitor their investments.

    Read Also: CBEX and the rest of us

    “However, after deposits exceeding one billion dollars, the platform became inaccessible, and victims were unable to withdraw their funds.

    “The victims later discovered that the entire scheme was a scam.” 

    The EFCC claimed that further investigation revealed that while ST Technologies was registered with the Corporate Affairs Commission (CAC), it was not registered with the Securities and Exchange Commission (SEC) for investment purposes.

    It claimed to have further found that the suspects had relocated from their last known addresses in Lagos and Ogun states. 

    Stating that its investigation has established a prima facie case of investment fraud against the six, the EFCC argued that a warrant of arrest the six was necessary to enable it place them on the red watchlist, allowing relevant agencies to track and apprehend them.

  • Court orders interim forfeiture of 73 properties linked to cybercrime, money laundering

    Court orders interim forfeiture of 73 properties linked to cybercrime, money laundering

    Justice Deinde Dipeolu of the Federal High Court in Lagos has granted the Economic and Financial Crimes Commission (EFCC) an order for the interim forfeiture of 73 properties suspected to be instruments of computer-related fraud and money laundering.

    The court also directed the EFCC to publish the order in a national newspaper, inviting interested parties to appear within 14 days to show cause why a final forfeiture order should not be granted in favour of the federal government.

    The order, granted on April 23, 2025, in suit number FHC/L/MISC/382/2025, followed a motion ex parte filed by the EFCC against a firm, Genting International Co., and argued by EFCC counsel B.M. Isah.

    The forfeited items include: 1,596 computers/laptops, 4,091 mobile phones, 350 foreign SIM cards, 3,399 Nigerian SIM cards (1,122 MTN, 316 9mobile, 1,277 Airtel, 684 Glo), 194 routers, 205 sofas, 501 double-step bunks, 754 mattresses, 40 refrigerators, 10 microwaves, and 2 whiteboards.

    Also listed are: 16 inverter batteries, 14 inverters, 43 CPUs/monitors, a ring light, 2 fuel tanks, a transformer, 7 vehicles, 411 deep freezers, 13 electric kettles, 21 UPS units, a toaster, an air fryer, 558 office tables, 2 TVs, a network server, 6 gas cylinders, a blender, 3 weight scales, a spiral dough mixer, 2 double-burner stoves, and a dining set.

    Justice Dipeolu ruled: “I have read the motion and attachments and find sufficient merit in the application. Consequently, the motion succeeds and is hereby granted.”

    The EFCC filed the application under Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, and the court’s inherent jurisdiction.

    It sought “An interim forfeiture of the properties listed in Schedule A; and that the court has the power to grant such reliefs under Section 44(2)(B) of the Constitution and the Advance Fee Fraud Act.

    In an 18-paragraph affidavit, Kaina Garba, an EFCC investigator, said the Commission stated that he received intelligence on a syndicate involved in computer fraud, money laundering, and organised crime, allegedly led by Chinese nationals operating under the name Genting International.

    Read Also: Osun Attorney-General inspect razed buildings, lament poor security in Osun courts

    Preliminary findings revealed that the syndicate was recruiting and training Nigerian youths in romance, dating, and investment scams. Each recruit was assigned a computer system and a specially configured mobile phone line.

    A sting operation on December 10, 2024, at No. 7 Oyinjolayemi Street, Victoria Island, Lagos—believed to be the syndicate’s headquarters—led to the recovery of the listed assets. Other properties tied to the syndicate were identified at No. 14 Modupe Alakija Crescent, Ikoyi; Plot 1220 Bishop Oluwole Street, Victoria Island; and Plot No. 54A A.J. Marinho Drive, Victoria Island.

    Garba stated that 761 suspects, both foreign and Nigerian, were arrested. However, the suspected leaders and financiers remain at large but are being pursued by the Commission.

    He urged the court to grant the application, citing public interest and the need to thoroughly investigate the growing menace of cybercrime and money laundering in Nigeria.

  • EFCC arrests two suspects over N1.3tr CBEX scam

    EFCC arrests two suspects over N1.3tr CBEX scam

    • Briton, four others indicted

    The Economic and Financial Crimes Commission (EFCC) has arrested two suspects over the alleged loss of approximately N1.3trillion to Crypto Bridge Exchange (CBEX).

    Although four Nigerians have been identified with the company, including two siblings,  none of the names has been unveiled by anti-graft agency.

    A Briton has also been implicated but the extent of his involvement was still  under  investigation.

    Operatives of the anti-graft agency in-charge of the investigation, suspended public holiday on Friday to work round the clock.

     According to a top source,  the EFCC has recorded a breakthrough in arresting two suspects.

    The source said: “We have started preliminary investigation with the two suspects. It’s a multi-dimensional probe of how CBEX came into the nation’s digital asset trading platform.

    “The EFCC Chairman, Ola Olukoyede, who returned to the country on Thursday is personally leading the investigation.

    “Five individuals, including a Briton, are under our searchlight so far but we are not rushing to avoid wrong profiling.  However,  we have placed all suspects on surveillance.

    READ ALSO: Nigerians and lure of Ponzi schemes

    “It is too early to release the names of the suspects but they are helping to clarify how the company was established,  the promoters of the company, those funding it, the secondary companies being  used , how the secondary firms were registered,  the financial institutions involved, and roles of Corporate Affairs Commission (CAC).

    “We have a lot of angles to it, we will surely crack those behind the company.”

    Asked why the arrested two suspects were not unveiled, the source added: “Investigation is still at preliminary stage, we don’t  want to jeopardise it.”

    “There are claims of N1.3trillion loss by investors, our investigators will verify.

    “We know there is panic  but we have to do our job as swift as possible. “

    SEC can’t regulate what it doesn’t know, says DG

    Director-General of the Securities and Exchange Commission (SEC) Dr. Emomotimi Agama yesterday explained why regulatory action was impossible because CBEX was not listed in the regulator’s register.

    Speaking during an interview on Monday, Dr. Agama stressed that the SEC was unaware of CBEX’s operations until recently and reiterated the commission’s mandate to regulate only registered institutions.

    The SEC boss said: “The first responsibility of the SEC is to watch over regulated institutions within the confines of its available resources.

    “Registration actually is the hallmark of regulation. Without registration, the possibility of regulation becomes difficult.”

     CBEX, Agama explained, was never registered with SEC. The commission had not received any formal reports or inquiries regarding CBEX as an investment platform.

    He said: “It’s very pathetic that Nigerians will lose their money this way,” he lamented. “But even at that, we must say clearly that the idea or thoughts that the SEC is not working is totally out of it.”

    Dismissing claims that CBEX was in the process of obtaining certification from the commission, Agama said: “Such assertions are totally untrue, in capital letters,” warning that no company can operate first and seek SEC licensing later.

    “That alone is a red flag. No institution applies to the SEC after operating. You cannot operate without a license from the SEC.”

    According to the SEC boss, Corporate Affairs Commission (CAC) registration does not translate to a regulatory approval from the SEC.

    He noted that some companies often mislead members of the public by obtaining certificates under misleading classifications.

     Agama said: “Sometimes these people are deceptive and manipulative. They may receive a certificate innocently from the CAC, but not for investment services.”

    Responding to widespread criticism of the SEC’s public engagement efforts, Agama said the commission has ramped up awareness campaigns, including launching a podcast two months ago and organizing nationwide enlightenment events.

    He urged Nigerians to exercise caution and verify investment opportunities before committing funds.

    “If there is any investment you are not sure of, contact a financial advisor, a lawyer, an investment advisor, or a stockbroker,” he advised.

    “Investments are very serious business, and Nigerians must take time to check and confirm before delving into it,” he counseled

    On the possibility of restitution and legal action, Agama assured that CBEX is under investigation and that the commission was working with other agencies to recover funds and prosecute the perpetrators.

    “Whatever we can recover will certainly be returned back to the investors. We will bring them to book,” he assured

    He urged the media, especially online influencers to act responsibly and avoid amplifying fraudulent schemes, reminding operators of the new provisions under the Investment and Securities Act (ISA) 2025, which imposes a N20 million fine and up to 10 years imprisonment for promoting unregistered investment platforms.

    “If you are a blogger, you are an influencer, and you help in participating in this kind of fraudulent activity… the sanction is N20 million in the first instance, and 10 years imprisonment,” Agama warned.

  • Group seeks EFCC, NASS’ intervention on alleged diversion of constituency project funds

    Group seeks EFCC, NASS’ intervention on alleged diversion of constituency project funds

    The executive director of a non-governmental organisation, Eagle Brain Youth Transformative and Development Initiative (EBYTDI), Daniel Ejembi, has called on the Economic and Financial Crimes Commission (EFCC), the National Assembly, and the Kaduna state government to intervene in the alleged hijacking of a federal constituency project intended for public schools in Dokan Mai Jama’a, Chikun local government area of Kaduna state. 

    A statement issued by the Executive Director described the alleged diversion of public resources to a private entity as a grave injustice to the children of Dokan Mai Jama’a.

    According to him, “This diversion of public resources to a private entity is a grave injustice to the children of Dokan Mai Jama’a. We demand swift intervention by the Kaduna State Government, the Economic and Financial Crimes Commission (EFCC), and the National Assembly to recover misused funds and prioritise education for all.” 

    The statement stated that the investigation reveals that a federal project sponsored by Yakubu Umar Barde, former member representing Chikun/Kajuru Federal Constituency, was alleged to have been unlawfully diverted to Fatima Academy, a private school owned by Abdulhadi Abubakar.

    Ejembi explained, “The project, initially earmarked for constructing a public school, was instead executed at Fatima Academy, which lacks registration with the Corporate Affairs Commission (CAC).”

    Read Also: EFCC arrests 40 internet fraud-suspects in Niger

    He added that the contractor, Amrah Farms Nigeria Limited (RC-1523474), with directors including Abdulyekin Bello Tahir and Bello Halimat Sadiq, executed the project in violation of its original mandate, lamenting that public schools in Dokan Mai Jama’a faced severe deficits, including dilapidated classrooms, lack of sanitation facilities, and inadequate learning resources, exacerbating educational inequalities. 

    The Executive Director called for an immediate probe into the alleged diversion of funds by relevant anti-corruption agencies and also called for urgent construction and renovation of classrooms, toilets, and perimeter fencing in the public schools. 

    He also appealed for the provision of desks, learning materials, and safe water systems for students and advised on legal action against unregistered institutions like Fatima Academy and accountability for the involved parties. 

  • One Ponzi scheme, too many

    One Ponzi scheme, too many

    When some Nigerian investors took to the social media to lament how they were locked out of their accounts in the CBEX digital financial platform, it was apparent they had fallen victim to another Ponzi scheme. Trending videos from some of those affected showed frustrations with their inability to withdraw their investments highlighting fears that their money may have been lost.

    Some of the investors who complained on the private messaging service telegram of the CBEX were told by the digital financial platform that the problem was as a result of hacking and that things would soon be restored.

    Concerns on the fate of CBEX mounted when a popular X user wrote about an individual who reportedly invested $1, 000 and withdrew $5, 000. He further wrote, “Having done all the checks, the platform flies all the flags of a Ponzi scheme”.

    But instead of normalcy being restored as promised, the platform was quick to crash. CBEX locked its telegram channels and restricted WhatsApp groups. It also curiously introduced a verification fee where users were asked to pay $100 or $200 to supposedly unlock $1, 000 and $2, 000 respectively.

    These measures left investors without further doubt that they have been scammed of their hard-earned money by the phoney financial platform. Frustrated by the turn of events, some of them attacked the offices of the financial platform in Ibadan and Lagos, carting away chairs, air conditioners and solar panels in utter despair.

    The crash of the CBEX platform yet adds to the list of fake digital financial investment platforms that swindled Nigerians of their hard-earned money and left sorrow and misery in their trail. CBEX launched in Nigeria in July 2024 promising investors 100 per cent returns on their investments within 30 days

     It came with the usual strategy of encouraging users to refer others with promises of bonuses and rewards based on the size of their referral network. Early participants are paid from the contributions of new investors and those who benefitted become the mouthpiece of the scheme. The objective of this strategy is to spur spurs more investments and before you know it, the platform crashes with the funds of investors trapped. That was the ploy deployed by previous Ponzi scheme before the CBEX. And that was the pattern it adopted, followed and crashed out.

    It is estimated that the CBEX may have carted away over N1.3 trillion from their wallet after crashing penultimate Monday.

    Sadly, Nigerians are not new to this manner of investment scam.  The Mavrodial  Mondial Movement (MMM) had similarly debuted in 2015 promising mouth-watering returns of 30 per cent within 30 days. But in 2016, it abruptly froze its transactions leaving its investors estimated at over three million people stranded.

    Of the N911.45 billion which the Nigeria Deposit Insurance Corporation (NDIC) estimated in 2022 to have been lost to Ponzi and other related fraudulent activities in the last 23 years, MMM alone accounted for N18 billion. Before the CBEX scam, Nigerians had severally fallen victims to other Ponzi schemes such as Twinkas, Ultimate Cyber, Givers Forum and Get Help Worldwide etc.

    As I write, the running of similar fraudulent schemes cannot be ruled out. And the possibility of future victims looms large. Why this is so despite the bitter experiences of our people and in spite of warnings from relevant government agencies to investors to be wary of offers that look too good to be true will continue to divide opinion.

    But much of the answer can be found in the bogus, unrealistic and quick returns to investments which the schemes offer prospective investors. That is the prime motivation. That is why those who opt for such schemes shun the conventional banks with their low returns on investments. The Ponzi schemes came with 100 or 30 per cent return on investment within 30 days.

    So, it made better investment sense albeit foolishly, if they can reap such huge returns especially so when they can point at someone who had so benefitted. But the question such prospective investors failed to ask is the type of investment that will double returns in just 30 days. They should have interrogated the type of business that would enable the digital financial platform to double returns on investments within 30 days and still make its own profits to remain in business. That is where greed met ignorance.

     Given the experiences of our citizens with such Ponzi schemes in the past, one had expected that some lessons would have been learnt and precautionary measures taken. But the experience of the CBEX crash does not bear this optimism out.

    Curiously, most of those who patronised the CBEX scheme are urban dwellers as indicated by the pattern of attacks at the Ibadan and Lagos offices of the phoney company. The MMM scandal occurred barely nine years ago. There has been little change in demographics to suggest that most of the victims were not of age when it froze its transaction and shattered the future of its investors. Neither can it be claimed they had no information about the past.

     Greed pushes Nigerians into investing in such supposedly high interest-yielding ventures without figuring out the impracticability of any business yielding such profit within that short time frame. It is possible a few of the victims may not have been privy to the previous experiences of Nigerians with such scheme. But then, the lure remains the quick return to investments in manners that defy economic and rational calculations.

     This disposition is not entirely new. It tallies with the pervasive culture of corner cutting and quick fixes. You may even be surprised at the manner experts who are more versed in such investment matters may be dismissed if they try to discourage those eager to invest in such schemes. That shows the value we place on knowledge and expertise.

    That is not to diminish the importance of sensitisation programmes from the Securities and Exchange Commission (SEC), the Economic and Financial Crimes Commission (EFCC) and other relevant agencies of the government.

    Read Also: If Tinubu can’t fix Nigeria, no politician can – Seyi Law

    In March, the EFCC warned on the activities of about 58 illegal Ponzi scheme operators in the country. It said these companies were operating without registration with the Central Bank of Nigeria (CBN) or the SEC and have been identified as potential threats to the financial wellbeing of unsuspecting Nigerians. But CBEX was not listed among the 58.

    A breakdown of the list showed their activities spanned various sectors such as agriculture, finance, oil and gas, books etc.

    From the diverse fields they operate and the activities they purport to engage in, it will be very hard for investors to draw a line between the genuine and fake ones. In this list is a preponderance of agricultural companies that do not promise quick returns on investments but are still out there to scam the people. That is the real danger facing genuine investors. And that is why serious sensitisation programmes have to be called into quick action.

    SEC said its long-term goal is to launch a capital market radio to educate investors and ensure that Ponzi schemes are completely taken down. This is heart-warning. But the time for the capital market radio is now. We cannot continue to harbour the huge losses Nigerian investors incur each time their money gets trapped in the vaults of Ponzi schemes due to their inability to differentiate between the fakes and genuine investments.

    The N10 billion that the Senate approved for the commission to embark on market education programmes should be quickly deployed to the desired end. The relative ease with which Ponzi schemes operate within our shores, scam investors and disappear, point to something untoward about the monitoring roles of the relevant agencies of government. The SEC, EFCC and the CBN should publish dedicated telephone lines through which Nigerians can ask questions on future investments.

    CEBX had offices in Ibadan and Lagos. People manned those offices for the period of their ill-fated operations without detection by any of the government agencies. That says a lot. It is good a thing that SEC is considering the establishment of more offices across the country to get closer to the people. With such offices and effective monitoring, it will be easier to detect the existence of fake financial investment companies before they scam unsuspecting investors.

    But these fraudulent activities thrive because of the ease with which they evade justice. Nigerians lost huge sums of money to MMM and till date nothing came out of it. CBEX is following the same line. The EFCC said it is working with Interpol and other development agencies to bring to book those behind the scam. We wait for the outcome.

    But the psyche of our people needs serious rejig. The pervading culture that wealth can be procured through quick fixes-money doubling, ritual killings, Yahoo, organ harvesting, kidnapping and sundry criminalities is behind it all. Public celebration of huge quantities of cash is part of it. That is the war Governor Chukwuma Soludo is currently waging in Anambra State. That war against moral atrophy requires national dimension.

  • Rivers: Only police, EFCC, ICPC can probe Fubara, says Ahamba

    Rivers: Only police, EFCC, ICPC can probe Fubara, says Ahamba

    Senior Advocate of Nigeria (SAN), Chief Mike Ahamba, has stated that only the police, Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices Commission (ICPC) have the legal authority to investigate suspended Rivers State Governor, Siminalayi Fubara.

    Speaking to The Nation in Owerri on Wednesday, Ahamba said that while the state’s Sole Administrator, Vice Admiral (rtd) Ibok-Ete Ekwe Ibas, has the mandate to look into how certain decisions were made during Fubara’s time in office, any findings of wrongdoing must be referred to the appropriate investigative bodies.

    “If the sole administrator finds anything fraudulent in the office, he should report to the appropriate quarters such as the police, EFCC, and ICPC whose duties are to investigate such indictments,” Ahamba explained.

    His comments follow reports that Ibas summoned Fubara and his deputy, Dr. Ngozi Ordu, to the Government House in Port Harcourt for questioning over appointments made during Fubara’s administration.

    Ahamba reiterated that while the administrator may conduct inquiries, any further investigative action must come from constitutionally empowered agencies.

    Read Also: Prevail on Wike, Fubara to end crisis, Dickson tells Tinubu

    “The sole administrator is placed for six months while the President oversees the security situation in the state which made him declare the State of Emergency in the first place,” Ahamba explained. 

    “In fact, the sole administrator is not supposed to be appointing people into the office, he was supposed to be working with the political officers in the office until the situation calms down.”

    Ahamba commended the National Assembly for appointing a 21-member committee to oversee legislative matters in Rivers State, urging them to prioritize representing the people rather than ruling them. 

    He stressed the importance of adhering to the law and avoiding misadvice, citing the Imo State example where Governor Hope Uzodimma was misadvised on appointing an acting Chief Judge.

  • EFCC arrests 40 suspected internet fraudsters in Niger

    EFCC arrests 40 suspected internet fraudsters in Niger

    Operatives of the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested 40 suspected internet fraudsters in separate operations carried out in Bida and Minna areas of Niger State.

    According to a statement by EFCC’s Head of Media and Publicity, Dele Oyewale, the arrests were based on credible intelligence linking the suspects to various online fraud activities.

    Among the unusual items recovered were four ladies’ underwear, a waist bead, three calabashes decorated with feathers, locally made soap and sponge, a bottle of alcoholic drink, and 20 cowries—items believed to be fetish objects.

    Other recovered items include three vehicles, eight power generators, one Hisense air conditioner, two power stabilizers, 10 motorcycles, eight laptop computers, four Bluetooth speakers, and 60 Android phones.

    Oyewale stated that the suspects would be charged to court upon the conclusion of investigations.

  • JUST IN: CBEX investors will get their money back, EFCC assures

    JUST IN: CBEX investors will get their money back, EFCC assures

    The Economic and Financial Crimes Commission (EFCC) has assured individuals who invested in the CBEX digital trading platform that they would recover their funds.

    The commission revealed that it had been monitoring the platform even before the recent wave of public complaints.

    CBEX, which had promised investors a 100 percent return on investment, faced a crisis over the weekend as many users reported being unable to withdraw their funds, sparking outrage on social media.

    On Monday, angry investors reportedly stormed and looted the office of Smart Treasure, an affiliate of CBEX, located in the Oke Ado area of Ibadan, Oyo State.

    Speaking during Channels TV’s Morning Brief on Wednesday, EFCC spokesperson, Dele Oyewale, confirmed that the anti-graft agency had been fielding numerous calls from Nigerians seeking information and solutions regarding the CBEX platform.

    Oyewale stressed that the EFCC had profiled the platform long before the recent outcry and had previously warned Nigerians about potential Ponzi schemes.

    “We were not waiting for Nigerians to call us before we started our work, of course, we have been working,” he said.

    “We were not beaten by what actually happened. Our dragnet is wide, our intelligence is very effective, and we were tracking that digital trading platform.”

    He added, “We were tracking it, and we profiled several things concerning the platform. You will recall that March 11 this year, the executive chairman of the EFCC, Mr. Ola Olukoyede, had called to instruct us to alert Nigerians.”

    Oyewale also recalled that the EFCC had earlier listed 58 suspected Ponzi scheme companies in March to caution the public.

    “That shows that we are proactive and we have our hands on what is happening. So concerning this investigation, we were on it; it’s not that we didn’t know.

    “We’ve been alerting Nigerians about ways and means of how to separate themselves from this kind of shenanigans.

    “Before the calls came, we were working, while the calls are coming, we are working; And even after the calls, we are still working.”

    He added that the commission would continue educating the public on how to identify fraudulent investment schemes.

    “The essential thing is that, of course, we are going to recall some of the things that Nigerians should be looking out for, you know, concerning this kind of investment schemes and all of that.”

    On the fate of investors’ funds, Oyewale gave an assurance that recovery efforts were underway, though the process might take time.

    “No, it will be very irresponsible and unprofessional if the EFCC says that you have lost your money; there is nothing the commission can do about it.

    Read Also: CBEX scam: We warned Nigerians about ponzi schemes – EFCC

    “We are already working with Interpol and our international development agencies to ensure that these people are brought to book.

    “Investors are going to get their money back, and we are already working on that. Everything I’m saying is that this kind of thing could have been averted.

    “Be it as it may, it was not averted, we are not going to throw our hands out helplessly and say that there’s nothing EFCC can do about it.

    “We are more responsible and professional than that. We have spread out our wings by talking to Interpol and the necessary agencies across the world to be able to bring all the actors to book, and investors will have their money back.”

    Oyewale, however, cautioned that while the process might not yield immediate results, the EFCC remains committed to ensuring that investors do not lose their money.

  • Alleged false report: Judge threatens to withdraw from EFCC’s case against Bello

    Alleged false report: Judge threatens to withdraw from EFCC’s case against Bello

    Justice James Omotosho of the Federal High Court in Abuja, yesterday, threatened to send back the Economic and Financial Crime Commission (EFCC’s) case file in the charge against the Chief of Staff (CoS) to Kogi Government, Ali Bello, to the Chief Judge, Justice John Tsoho, for reassignment.

    Justice Omotosho said this following a complaint by Bello’s counsel, Abubakar Aliyu, SAN, accusing the EFCC of publishing untrue accounts of what transpired in court on the last adjourned date on its website against his client.

    The anti-graft agency filed the charges in 2022, accusing Bello and Dauda Sulaiman of fraud involving alleged diversion of funds from the Kogi State Government coffers.

    While Bello is the 1st defendant, Sulaiman is the 2nd defendant in the 10-count charge marked: FHC/ABJ/CR/550/2022.

    Aliyu had told the court that he had a complaint to make on his client’s behalf. He said: “The prosecutor is subjecting my client (Bello) to mob justice by making publications” that were allegedly untrue.

    The lawyer alleged that the publication, which was on EFCC’s website, was distributed to other social media.

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    “They (EFCC) said the 1st defendant made a payment of the house at Ikogosi Close in Maitama District and after he discovered that the house was under investigation by EFCC, he now returned the documents back,” Aliyu said.

    He said his client told him that he did not buy the property contrary to the allegation.

    The lawyer, who gave a copy of the printout to the court, also said a copy had already been served on the Commission’s counsel.

    Responding after he went through the copy, EFCC’s lawyer, Abbas Muhammed, said he could not verify the authenticity at the moment.

    “I have seen the publication. At this point my Lord, I cannot verify. I will have to verify with the media team,” he said.

    The judge then gave him the go-ahead to verify and report back to the court in the next adjourned date.

    “I want to say this, on the reportage of these proceedings. I won’t take it if it continues this way.

    “I am going to take all your files and send back to the CJ for reassignment.

    “It is not only against the defendant but against the court,” the Judge said.