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Ola Olukoyede: EFCC recovers part of funds from CBEX crypto scam, arrests suspects
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has announced that the commission has recovered part of the funds linked to the fraudulent activities of the digital investment platform, Crypto Bridge Exchange (CBEX).
Speaking during an interview with TVC on Sunday, Olukoyede confirmed that arrests have been made in connection with the CBEX scam.
“We’ve made substantial progress with the CBEX case and recovered a reasonable sum of money,” he said.
He explained that although the stolen funds were initially in cryptocurrency, the EFCC successfully traced and recovered a portion.
However, he noted that converting the recovered crypto assets back into cash, particularly U.S. dollars, has proven challenging due to the complex nature of crypto transactions.
He stated, “Even though in the crypto wallet, the same way the money was taken from them. There is no way you will get them in dollars. There is no way you get the dollars in cash without necessarily going through the same process.”
The EFCC Chairman also stated that several suspects have already been apprehended, while efforts are ongoing to track down others still at large.
“We have gone far. We have made a reasonable arrest.
“We are not going to give out much because we don’t want the process to be disrupted. We are still after quite a number of people we have declared wanted,” he said.
However, he noted that the investigation has been difficult, as the fraudsters used “non-custodial wallets,” which lack identifiable account information, making it more challenging to trace those involved.
“We are still investigating a lot of wallets and the wallets they created are called noncustodian wallets; in other words, no KYC. So, you can’t trace it to anybody.
“So, from the noncustodial wallet, they moved it to some wallets in Europe, Eastern Europe, particularly Cambodia and from there, they dispersed the money. We have been able to block some of these wallets where money has not been dispersed.
“That is to the extent that we have gone. I even learnt that there are still some of these perpetrators and Nigerians are still falling victim. I believe people should learn from this,” he said.
CBEX, a digital investment platform, offered investors 100 per cent profit after 30 days of purported AI trading. No fewer than 600,000 Nigerians reportedly invested in the scheme and lost N1.3tn after it collapsed on Monday.
Findings revealed that the promoters of the platform operated under a company registered as ST Technologies International Limited.
ST Technologies was registered with the Corporate Affairs Commission on September 25, 2024, and the Economic and Financial Crimes Commission’s Special Control Unit Against Money Laundering on January 16, 2025.
One of the documents obtained during search about the company was titled, ‘Certificate of Increase in Issued Share Capital of ST Technologies International Limited Company Registration No. 7955973.’
It read, “The Registrar-General of the Corporate Affairs Commission hereby certifies that pursuant to the resolution and notice of increase in share capital dated 4th December 2024, and presented for filing on 5th December 2024, in respect of the above-named company, the increase in share capital from N1,000,000 to N201,000,000—by the creation of 200,000,000 ordinary shares of N1 each and preference shares of N0 each—has been registered with the commission. Given under my hand at Abuja this 17th day of December 2024.”
Similarly, the EFCC’s certificate of January 16, 2025, stated, “ST Technologies International Limited has been duly registered in accordance with the provisions of Section 17(2)(a) of the Money Laundering (Prevention and Prohibition) Act 2022, and any other applicable law or regulation.”
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News
I will be receiving some notable figures from the ADC. – APC National Chair, Yilwatda.

Next week, I will be receiving some notable figures from the ADC. – APC National Chairman, Yilwatda.
Professor Nentawe Yilwatda, the National Chairman of the All Progressive Congress (APC), has announced that several politicians from opposing parties are planning to join the ruling APC soon.
During a meeting with Plateau APC stakeholders held at Crest Hotel in Jos yesterday, Yilwatda shared this.
He said, “Next week, I will be receiving some notable figures from the ADC.
“Some of those who had defected from PDP have reached out to ADC and are now returning to APC. Many of them have completed their ‘medicals’ and will be officially unveiled next week.
“In another two weeks, we will unveil yet another big figure who just finished his own ‘medicals.’
“He tried to unveil himself the day before yesterday, you probably saw it in the news. But officially, we’ll be receiving him soon. More people are coming. More senators are joining; more governors, more members of the National Assembly. The APC is the bride of the moment.
“Thank you so much for all you did—from the very beginning of my loss, through the burial, and even after.May God bless and reward you richly. I must also extend my deepest gratitude for how you stood your ground when we faced the setback at the Supreme Court.
“Many people thought that was the end of APC on the Plateau; that we had been buried politically. But what they didn’t see was the seed that had already been sown.
That seed germinated, and today, APC is stronger, more vibrant and growing bigger by the day.
“I’d also like to take this opportunity to warmly welcome our new members.”
Abia State
2027: Prepare Your Will If You Plan to Write Election Results in Abia — Governor Alex Otti Warns

Abia State Governor, Dr. Alex Otti, has cautioned individuals plotting to manipulate the 2027 governorship election results to first “write their wills” before embarking on such a dangerous mission.
Speaking during his monthly media chat in Umuahia, the governor emphasized that his statement was not a threat but a caution informed by intelligence reports suggesting that some displaced politicians are boasting about plans to “write” election results in 2027.
“This is not a threat but a warning. If you are planning to write election results in Abia, please write your will first,” Otti declared.
He dismissed remarks attributed to the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, noting that power ultimately belongs to God.
“I do not have the anointing to speak about what will happen in 2027 in 2025. But I know that power belongs to God, and He gives it to whom He wants. We should not speak when the Lord has not spoken,” he said.
Governor Otti advised Kalu to focus on his duties at the National Assembly, adding that there was no animosity between them despite the Deputy Speaker’s repeated public criticisms.
“My relationship with the Deputy Speaker didn’t start with politics. This is the second time he has publicly attacked my administration. I forgive him, but I think he suffers from what I call ‘Information Deficiency Syndrome.’”
He further clarified that according to the Protocol Act of 2000, the sixth position in Nigeria’s political hierarchy belongs to the Deputy Senate President, not the Deputy Speaker.
On Governance and Infrastructure
Governor Otti commended the Abia State Environmental Protection Agency (ASEPA) for its consistent efforts in maintaining a cleaner environment across Aba, Umuahia, and Ohafia.
“We are now moving to the next phase of waste management — recycling and turning waste into wealth,” he said, disclosing ongoing engagements with investors and institutions to actualize the plan.
The governor also announced progress in reviving key moribund industries, including Star Paper Mill, Aba Textile Mill, and Modern Ceramics, through collaborations with the Asset Management Corporation of Nigeria (AMCON) and other stakeholders.
“Government is an enabler. Our goal is to revive these industries, hand them to professionals to run as private entities, and create jobs for our people,” Otti stated.
Education and Health
Governor Otti reaffirmed his administration’s commitment to transforming the education sector, revealing that over 5,395 new teachers have been deployed across the state, with plans to recruit an additional 4,000 due to rising enrollment.
He also highlighted improvements in healthcare delivery, including the reconstruction of general hospitals and recruitment of over 774 healthcare professionals, with applicants coming even from other African countries.
“We are building a health system powered by renewable energy to ensure every community has access to quality healthcare,” he said.
Power and Infrastructure Expansion
Governor Otti announced the installation of nearly 8,000 solar-powered streetlights across the state and ongoing projects aimed at achieving steady electricity supply in Aba, Umuahia, Bende, and Ohafia.
“When Aba Power reaches its full capacity of 188 megawatts, excess power will be distributed to Umuahia and other parts of the state. Light brings development, and darkness disappears where there is light,” he said.
He disclosed that President Bola Tinubu’s representative, Senator Dave Umahi, recently commissioned eight newly completed roads in Abia, with more infrastructure projects including the 25km Umuahia–Ikot Ekpene Road and Ihechiowa Ring Road set to begin soon.
On Defection Rumours
Governor Otti debunked speculations about plans to defect to the All Progressives Congress (APC), stating that he remains committed to his principles.
“You don’t take decisions simply because others are taking them. We are not people who follow the crowd,” he affirmed.
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News
American Accuses Reno Omokri of Deception, Calls Him “Pathological Liar” as Omokri Dismisses Christian Genocide Claims

A former Texas Mayor, Mike Arnold, has accused former Nigerian presidential aide Reno Omokri of deception and manipulation, describing him as a “pathological liar” who thrives on calculated deceit.
In a viral post on X (formerly Twitter), Arnold said he had witnessed Omokri’s alleged dishonesty firsthand during personal and professional encounters both in the United States and Nigeria.
“The truth about Reno Omokri is sad. I’ve seen it up close. Reno doesn’t lie like most liars. He lies calm, cool, constant. Up close, he’s reptilian. Chilling. Soulless. Yet so charming,” Arnold wrote.
Arnold, who claimed to have hosted Omokri in Texas and attended his birthday safari in Kenya, accused the former presidential aide of falsifying events, exaggerating connections, and fabricating ownership of luxury assets.
He recounted an incident where Omokri allegedly showcased luxury cars online, falsely claiming ownership of two vehicles belonging to Arnold’s friend.
Arnold also alleged that during a fact-finding mission to Nigeria on Christian persecution, Omokri promised high-level meetings with President Bola Tinubu, NSA Nuhu Ribadu, and the Sultan of Sokoto, none of which materialized.
“Looking back, those promises were props for his narrative for clout and manipulation,” he wrote.
Arnold further accused Omokri of misrepresenting him on Nigerian television, falsely introducing him as the current mayor of Blanco, Texas, and a close associate of U.S. Senator Ted Cruz.
“On live TV, he called me a Republican mayor—we don’t even have partisan municipal elections. He also said I’m a personal friend of Ted Cruz. False,” Arnold stated.
Quoting Psalm 101:7, Arnold said Omokri’s actions were “soulless” and “evil,” adding that “lying to cover up the Christian genocide raging in Nigeria is a bridge too far.”
“People must know Reno Omokri is a pathological, habitual, calculating, self-serving liar from someone who knows him personally so they won’t trust his sleazy attempts to bury the blood of tens of thousands of Nigerian martyrs with the manure spewing from his mouth,” Arnold wrote.
He also accused Omokri of harboring political ambitions, claiming that he plans to run for vice president under National Security Adviser Nuhu Ribadu.
Omokri, however, recently appeared on Arise News Night, dismissing reports of a Christian genocide in Nigeria as “ludicrous,” insisting that both Christians and Muslims are victims of insecurity across the country.
“Killings happen equally to Christians and Muslims,” Omokri said, urging Nigerians not to allow Western narratives to sow religious division.
The exchange has since sparked intense debate online, with many Nigerians weighing in on the authenticity of Arnold’s claims and Omokri’s controversial statements on religious persecution.
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Biafra
BREAKING: Nnamdi Kanu’s Ailment Not Life-Threatening – Court Adopts NMA Findings

The Federal High Court in Abuja has adopted a medical report by a panel set up by the Nigerian Medical Association (NMA), which found that the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, is not suffering from any life-threatening ailment.
The NMA panel, constituted by the association’s president on the order of Justice James Omotosho, was tasked with determining Kanu’s actual health condition following conflicting claims from medical experts representing both the prosecution and the defence.
According to the report submitted to the court on October 13 by the prosecution team led by Adegboyega Awomolo (SAN), and partly read in open court on Thursday, the panel concluded that Kanu’s condition is not life-threatening and that he is fit to stand trial.
Justice Omotosho, citing the report and noting no objections from either side, ruled that the trial would proceed.
The judge subsequently granted the defence six consecutive days — from October 23 to October 28 — to open and close its case.
Additionally, the court approved an oral application by defence counsel, Kanu Agabi (SAN), requesting that Kanu’s legal team be allowed to hold private consultations with him outside the Department of State Services (DSS) facility to ensure confidentiality.
Justice Omotosho ruled that the private meeting will take place in the courtroom between 9 a.m. and 12 noon on October 22, with only Kanu and his lawyers present.
The court further ordered that Kanu should continue receiving medical care at the DSS medical facility pending further proceedings.
One of Kanu’s lawyers, Aloy Ejimakor, confirmed the development after Thursday’s sitting.
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News
Bayelsa Governor Douye Diri Resigns from PDP with 23 Assembly Members

Bayelsa Governor Douye Diri Resigns from PDP with 23 Assembly Members
Bayelsa State Governor Douye Diri announced his resignation from the Peoples Democratic Party, PDP on Wednesday during a state executive council meeting in Yenagoa, accompanied by 23 members of the Bayelsa State House of Assembly, including Speaker Abraham Ngobere and Deputy Speaker Faithful Ebi.
His Chief Press Secretary, Daniel Alabrah, confirmed the move, attributing it to ‘obvious reasons’ without specifics, while Diri thanked PDP supporters and reaffirmed his dedication to Bayelsa’s progress.
“Today, I have formally resigned my membership from PDP for obvious reasons.” – Bayelsa State Governor, Douye Diri.
The defection ends the PDP’s control of the state since 1999 and hints at a potential shift to the All Progressives Congress before the 2027 elections.
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