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“We warned Nigerians” – EFCC Says After CBEX Crash
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.
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.
Lagos State Police react to claims of them taking money from dispatch riders on the Coastal Road in Lagos.
It started after a rumour was shared that police arrest and take money from riders as a demand for high bribes, sometimes reaching ₦200,000, and seize motorcycles if not given.
The Police Public Relations Officer, SP Benjamin Hundeyin, then addressed the claims online and stated in his statement that he disagreed that the rumour is true and stated, “The spread of misinformation only causes more harm than good. In this era, we can and must do better.”
It has been announced by the governor of Ogun that Tuesday 3rd of February is a public holiday in order to mark the 50th anniversary of the state creation.
This public holiday declaration was released in a statement by the secretary of the state, Tokunbo Talabi.
He then added that the holiday will provide as a day for the citizens to participate in the activities for the state milestone.
Former Kogi politician, Dino Melaye, faces backlash from the public after he shared a video on social media of him abroad and living well through his luxurious lifestyle.
In the same video, he speaks about Nigeria’s current economy and shares his disappointment.
He wrote, “See country, God help us to build a true nation where our wicked leaders will be in jail and the right people in power. Nigeria must be fixed. YES WE CAN.”
However, many state that what he posted and what he is saying contradict each other, and they accused him of sharing his own records to know if he was a corrupt leader.
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