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“We warned Nigerians” – EFCC Says After CBEX Crash

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The Economic and Financial Crimes Commission (EFCC) has said many Nigerians ignored its repeated warnings about digital trading platforms like CBEX.

Speaking on Channels Television, EFCC spokesperson Dele Oyewale explained that the Commission had made efforts to educate the public on the risks of such platforms long before the recent crash.

CBEX, an online trading company with links to China, reportedly collapsed on Monday, locking investors out of their funds and resulting in an estimated N1.3 trillion loss. Videos have since circulated showing victims expressing frustration and heartbreak over their lost savings.

Oyewale stressed that the EFCC had previously published a list of 58 suspicious investment companies, warning citizens to steer clear. He said this was part of their effort to prevent scams and protect the public.

He emphasized that CBEX never had any real, registered presence in Nigeria, despite claims of physical offices in places like Ibadan. He also noted that the company operated entirely online and lacked any legal ties to Nigeria.

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According to Oyewale, the Commission had done its part by creating awareness and alerting Nigerians to the risks. “The rest is for people to be cautious and protect their money,” he said.

He also pointed to the newly introduced Investment and Securities Act 2025, which now makes it a criminal offense to engage in digital trading without proper licenses and compliance with Nigerian law.


 

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WAEC Says English Exam Was Not Cancelled and Warns Against Fake News

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WAEC has debunked rumours that the English Language paper written on May 28 was cancelled. The exam, part of the ongoing WASSCE for school candidates, faced serious delays at several centres across the country. In some places, the paper meant to start by 9 a.m. didn’t begin until late at night, leaving students to write under poor conditions, with many using phone flashlights and torchlights to read their questions.

WAEC explained that it received reports of a possible paper leak and had to act fast to protect the credibility of the exam. But contrary to claims making rounds on social media, the council made it clear the paper was not cancelled. In a statement by Moyosola Adesina, the acting Head of Public Affairs, WAEC said a press release dated May 30 announcing the cancellation was fake and not from the council.

She said WAEC doesn’t know where the false information came from, but suspects it was shared by individuals trying to create panic and damage the council’s image. The Head of WAEC’s National Office, Amos Dangut, also commented on the situation, saying the late-night exams held in some areas were far below the council’s standards.


 

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Tinubu Welcomes Ademola Adeleke and Davido to His Home in Lagos

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President Bola Ahmed Tinubu hosted Osun State Governor, Senator Ademola Adeleke, for a private meeting at his Lagos residence on Monday. The governor was joined by his older brother, prominent businessman Chief Adedeji Adeleke, and his son, the internationally popular Afrobeats star David Adeleke, better known as Davido.

The visit was confirmed by President Tinubu’s Special Assistant on Social Media, Dada Olusegun, who shared the news on X the following day. “President Bola Ahmed Tinubu met with Osun State Governor Ademola Adeleke, accompanied by Chief Adedeji Adeleke and Afrobeats superstar Davido, at his Lagos home,” Olusegun posted.

So far, no details have been shared about the purpose of the meeting, and neither the Presidency nor the Adeleke family has made an official statement. Photos from the gathering have appeared online, offering a rare glimpse into the private talks between the President and the Adeleke family.


 

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Omokri Urges Tinubu to Focus on Nigeria’s Progress not Peter Obi’s Negativity

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Former presidential aide Reno Omokri has shared his advice on how President Bola Tinubu should handle Peter Obi and the Obidient Movement. Omokri suggests that instead of engaging with their negativity, Tinubu’s government should focus on highlighting its achievements and ongoing projects to outshine the critics.

Writing on X, Omokri emphasized the visible progress happening across Nigeria, especially in Abuja and Lagos. He pointed to major infrastructure projects like the Lagos-Calabar Coastal Highway, which is being built simultaneously from both ends, as well as the reconstruction of the Ile-Ife to Sokoto-Badagry Expressway and the Enugu-Onitsha Expressway.

“There’s development happening everywhere,” Omokri said. “The government should use every platform—TV, radio, print, social media—to showcase these efforts.” He also took a swipe at Obi’s supporters, saying, “While they praise leaders like Traoré, who hasn’t even reached the level of a local council chairman in Lagos, they criticize Nigeria harshly. Just the Third Mainland Bridge alone is worth half of Burkina Faso’s GDP.”

Omokri concluded by suggesting that if Obidients have nothing positive to say about Nigeria, perhaps they should consider moving to Burkina Faso.


 

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