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EFCC Invites CBEX Crypto Scam Victims To Lagos, Ibadan Offices To Assist Investigation

The Economic and Financial Crimes Commission (EFCC) has urged Nigerians who lost funds to the fraudulent online trading platform Crypto Bridge Exchange (CBEX) to visit its Ibadan and Lagos offices to assist with investigations into the alleged multi-million-naira scam.

In a statement issued on Friday by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency disclosed that three suspects — Adefowoara Abiodun Olanipekun, Otorudo Avwerosuo, and Ehirim Justice Chukwuebuka — are already facing prosecution over their alleged roles in the scheme.

The EFCC said CBEX lured unsuspecting Nigerians with promises of mouth-watering returns on cryptocurrency investments but eventually collapsed, leaving many victims stranded and devastated.

According to the Commission, the fraudsters operated through offices in Ibadan, Oyo State, and Idimu, Lagos, where several victims invested funds they could no longer retrieve.

“The scheme led to serious financial losses for Nigerians who invested their funds with the promise of unrealistic returns on investment.

“In view of the foregoing, and the need to assist the Commission in its ongoing investigation, the EFCC is inviting victims who invested their funds through individuals linked to the CBEX offices in Ibadan and Idimu, Lagos, to report to its Ibadan Zonal Directorate and Lagos Zonal Directorate 2,” the statement partly reads.

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Why Nigeria’s Judiciary Is Deeply Compromised – Obasanjo Speaks

On Friday, former Nigerian President, Olusegun Obasanjo voiced concern that Nigeria’s judiciary is now “deeply compromised.”

Obasanjo noted that corruption among judges has turned Nigerian courts into “court of corruption rather than courts of justice”.

The ex-President made the assertion in his new book, ‘Nigeria: Past and Future’, published by the Olusegun Obasanjo Presidential Library.

The former Nigerian leader lamented what he described as the “steady decline of the judiciary’s integrity”.

“The reputation of the Nigerian judiciary has steadily gone down from the four eras up till today. The rapidity of the precipitous fall, particularly in the Fourth Republic, is lamentable,”
he wrote.

The former military Head of State equally stated that justice had become commodified in Nigeria, with dangerous consequences for the nation’s stability.

“The great fear of most well-meaning Nigerians and good friends of Nigeria is that where ‘justice’ is only available to the highest bidder, despair, anarchy, and violence would substitute justice, order, and hope.

“I went to a state in the North about ten years after I left public office. Next to the government guest house was a line of six duplex buildings.

“The governor pointed to the buildings and stated that they belonged to a judge who put them up from the money he made from being the chairman of election tribunals,” Obasanjo said.

He accused the Chairman of the Independent National Electoral Commission, INEC, Mahmood Yakubu, of undermining the electoral process since 2015.

“No wonder politicians do not put much confidence in an election which the INEC of Professor Mahmood Yakubu polluted and grossly undermined to make a charade,”
he added.

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They Want To K!ll Me – Sunday Igboho Speaks On DSS Raid

Sunday Adeyemo, the Yoruba freedom fighter, who is popularly known as Igboho, has claimed that the Department of State Services (DSS) invaded his home in an attempt to k!ll him.

Igboho was declared wanted after confronting Fulani herders accused of k!lling farmers in the South-West, as well as for championing the Yoruba Nation agitation.

On July 1, 2021, DSS operatives stormed his residence in Ibadan, Oyo State, in an effort to arrest him.

During the raid, the activist evaded capture and later fled to Benin Republic, where he was arrested at the airport while attempting to travel to Germany. He subsequently faced trial there before being released following interventions by Nigerian leaders.

Igboho, however, claimed that the operatives fired multiple shots at him during the invasion but that divine intervention saved his life.

Speaking at the palace of the Olowo of Owo, Oba Ajibade Gbadegesin Ogunoye III, he said: “When my house was invaded, they wanted to k!ll me but failed. Some said my intestines were shattered, others said my leg was broken, but there was nothing of such.

“They fired guns at me very well, but the prayers of you, my fathers, on me were answered.”

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2027: I’ll Run With Peter Obi – Datti Baba-Ahmed Says

Datti Baba-Ahmed, the Labour Party’s 2023 presidential running mate, said on Friday that he is open to contesting alongside Peter Obi again in 2027.

Baba-Ahmed stated that he would consider running with Obi if Nigeria’s electoral system improves.

Speaking on Channels Television’s Politics Today, he said: “If Nigeria is still around and there is an electoral system to follow, my love for Nigeria is undying, mark that.

“I will appropriately associate with groups and individuals I think are like minded.”

On the possibility of still running with Peter Obi, he said: “Absolutely, if you had heard what I was saying on air two months ago, there are two individuals that I would succumb to.

“The first has not said, so I won’t say it on his behalf, and the second one is Peter Obi and always Peter Obi until he decides not to.”

When asked if he would consider running with Rotimi Amaechi, he said: “The first person is not Rotimi Amaechi. Amaechi is a good guy. By the way, why do you think that I have to be a deputy? Don’t keep looking at me like a deputy.”

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NAFDAC Raises The Alarm Over Fake Milk In Circulation (Photos)

Counterfeit Cowbell 12g sachet milk. Photo: NAFDAC

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday warned about the circulation of counterfeit Cowbell “Our Milk” 12g sachets in Nigeria.

The alert posted on the agency’s website stated that Promasidor Nigeria Ltd, which is the marketing authorisation jolder and manufacturer of Cowbell “Our Milk” informed the agency about the existence of a product bearing a close resemblance to the genuine Cowbell “Our Milk” 12g sachet Milk.

“This includes unauthorised use of the brand name, packaging design, NAFDAC registration number, and trademark.

“The MAH has confirmed that these products are neither manufactured or distributed by them as the counterfeit packaging design was last used for production by the company in September 2023,” NAFDAC noted.

Differentiating, it said the genuine cowbell milk is creamy, the packaging material used is the revised PNG artwork “Our Creamy Goodness”, the printing of the batch details is done with laser printing, the coding is done on the coding area on the sachet, and the sealing and cutting on the vertical sides are automated.

The genuine Cowbell 12g sachet milk. Photo: NAFDAC

It said the content of the counterfeit Cowbell 12g sachet milk does not seem like milk, the packaging material used is the old PNG artwork “Our Milk”, the printing of the batch details was done with ink instead of laser printing, the coding was not done on the coding area but on a different part of the sachet, and the sealing and cutting on the vertical sides were manually done.

It added, “The use or consumption of counterfeit Cowbell ‘Our Milk’ Milk presents serious health and safety risks.

“Such products may contain harmful substances, including toxic chemicals, unapproved additives, or diluted ingredients that do not meet food safety standards.

“Consumption of counterfeit milk can result in foodborne illnesses, allergic reactions, organ damage, or even death in severe cases. Infants, children, pregnant women, and the elderly are particularly vulnerable.”

The agency urged all NAFDAC zonal directors and state coordinators to conduct surveillance and mop up the counterfeit Cowbell 12g sachet Milk products within their zones and states.

“Distributors, retailers, and consumers are advised to exercise caution and vigilance within the supply chain to prevent the distribution, sale, and use of the counterfeit milk product.

“All food products must be obtained from authorised/licensed manufacturers/suppliers. The products’ authenticity and physical condition should be carefully checked.

“Healthcare professionals and consumers are advised to report any suspicion of sale of substandard and counterfeit food products to the nearest NAFDAC office, NAFDAC on 0800-162-3322 or via email: sf.alert@nafdac.gov.ng

“Similarly, healthcare professionals and patients are also encouraged to report adverse events or side effects related to the use of counterfeited food products to the nearest NAFDAC office, or through the use of the E-reporting platforms available on the NAFDAC website www.nafdac.gov.ng or via e-mail on pharmacovigilance@nafdac.gov.ng,” it said.

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Tinubu Unveils Personal Income Tax Calculator for Nigerians

President Bola Tinubu has announced the launch of the personal income tax calculator.
The tax calculator was launched on Thursday to help Nigerians estimate their tax liabilities under the new tax regime that takes effect in January 2026.
In a post on X, Tinubu said the tool was developed to simplify compliance, ensure fairness, and protect low-income earners.
“With the new tax laws I recently signed, taking effect from January 2026, we have lifted this burden and created a path of equity, fairness, and true redistribution in our economy,” he wrote.
According to him, the calculator allows individuals to compare their estimated tax under the new laws with what they currently pay, highlighting the reforms’ progressivity and transparency.
The president urged citizens to try the tool at fiscalreforms.ng, while calling on Nigerians to have faith in the country’s future.
Recall that Tinubu recently signed four tax reform bills into law: the Nigeria Tax (Fair Taxation) Law, the Nigeria Tax Administration Law, the Joint Revenue Board (Establishment) Law, and the Nigeria Revenue Service (Establishment) Law.
The laws will come into effect on January 1, 2026, and are aimed at restoring fairness in the tax system and boosting inclusive economic growth.
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NNPC profit crashes 80%, fall to ₦185bn from ₦905bn

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a massive decline in its profit after tax, which fell from ₦905 billion in June to ₦185 billion in July, marking a sharp 79.6% drop.

Details of the company’s monthly financial and operational report, released late Thursday, show that revenue in July stood at ₦4.41 trillion, lower than the ₦4.57 trillion recorded in June.

According to historical data, NNPC posted a profit of ₦926 billion in April and ₦1.05 trillion in May, before sliding to ₦905 billion in June. The July result represents the company’s weakest performance in recent months, despite a slight rise in production.

The report also highlighted statutory payments of ₦7.97 trillion between January and June 2025, underscoring the company’s continued contribution to government revenue.

On infrastructure, NNPC said the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) gas pipeline projects are progressing, with completion levels at 96% and 83% respectively.

The 113-kilometre portion of the OB3 pipeline has already been commissioned and is transporting about 300 million standard cubic feet of gas per day (mmscf/d) from producers including AHL (250 mmscf/d), Platform, Chorus, and Xenergi (50 mmscf/d).

Upstream operations were reported to be stable, with pipeline availability maintained at 100%.

The company also disclosed that additional subcontractors have been mobilised to speed up the mainline works on the AKK project, while a revised strategy has been adopted to fast-track completion of the OB3 River Niger Crossing.

Despite the profit slump, NNPC said it remains focused on sustaining crude oil and condensate production, enhancing facility uptime, and strengthening collaboration with stakeholders to improve operational efficiency.

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Crowd Storms Olumo Rock As Abiodun Declares Two-Month Free Entry (Video)

Since Governor Dapo Abiodun declared a two-month free entry period after major renovations, the historic Olumo Rock in Abeokuta has continued to attract large numbers of tourists.

The governor had officially commissioned the newly renovated Olumo Rock Tourism Complex.

Abiodun had earlier announced that public access to thenewly renovated Olumo Rock Tourism Complex will be free until the end of September 2025.

He made the announcement after commissioning the iconic site in July.

Here

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I Will Support Anyone Who Backs Tinubu – Wike

The Minister of the Federal Capital Territory, Nyesom Wike has pledged to give his support to President Bola Tinubu.
This is as he also called on residents of Abuja to support Tinubu, stating that he will support anyone who supports Tinubu.
Wike made the statement while commending former Senator representing the FCT, Philip Aduda, and the Chairman of the Abuja Municipal Area Council, Christopher Maikalangu, during the flag-off of Lot 2 of Water Supply Projects in Karu, on Thursday.
The minister hailed both men for their capacity and for bringing development to the people, while promising the construction of a 2km road in Karu site, on the request of Aduda, adding that he will support those who continue to support the Tinubu-led administration.
He further commended the AMAC Chairman, Maikalangu, as “very good and hardworking”, noting that the latter had used his access to government to deliver several projects to his residents in the area council, adding that his administration will do, whatever he asked if he (Maikalangu) won his re-election bid as council chairman.
“There is a road where you said is about 2km, is it not? Consider it done. You know, one thing about government and politics, support those who have capacity to bring something to the people. Support those that government will listen to.
 
“From what happened now, you see that Aduda, government has his ear where he is. And that’s why government said where is that road he mentioned? Consider it done.
 
“You can see that since he (Maikalangu) became the Chairman of AMAC, he has brought government to do Saburi Road, he has brought the government to do Kabusa-Takushere Road, he has brought government to redo this road. He has brought government to do Deidei Road.
 
“For me, I’m here to talk about those who have access to government and bring something to the people.
 
“The chairman has access to us. Anything he tells us, we will do. This is the only man I know. If he wins as chairman of AMAC, we will give him whatever he wants. I don’t know the party he belongs to. But I know that he supports Tinubu. Anybody who supports Tinubu, I will support him,” Wike said.
The minister pointed out that past governments had failed to provide the needs of the people, particularly water supply to the communities in Karu, noting that the government of Tinubu has fulfilled its promise to provide potable water to satellite towns.
“We have had a government who stayed here for five years, isn’t that correct? We have had a government who stayed here for eight years too, is that correct? Has any government come to say, look, we will provide you water? Have you had water before? Did this government promise it will give you water? Have we come now to give you water?
 
“So, you believe you have a covenant with this government. And the covenant is like somebody said, agreement is agreement. So, the people of Karu, you will readily remember the government that remembers you, is it not correct?
 
“Will you remember those who had the opportunity and they refused to do anything for you? Will you remember those who left Karu unattended, will you remember them? So, we have come to fulfil the promise we made to you, that you must have clean and potable water,” he stated.
PUNCH Online reports that Aduda represented the FCT on the platform of the Peoples Democratic Party between 2011 and 2015, and was re-elected in 2015 and again in 2019, before losing the seat in the 2023 general elections.
Meanwhile, Maikalangu is seeking re-election as Chairman of AMAC in the forthcoming February 2026 Area Council elections, on the platform of the ruling All Progressives Congress, after defecting from the PDP in 2024.
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ASUU threatens strike over unpaid salaries, poor funding of universities

The Academic Staff Union of Universities (ASUU) has issued a fresh warning of a possible nationwide strike, accusing the Federal Government of failing to honour agreements on the revitalisation and proper funding of Nigeria’s public universities.

Addressing reporters at the University of Jos on Thursday, ASUU President, Christopher Piwuna, said lecturers have endured more than two years of broken promises and government inaction despite repeated appeals.

He listed unresolved issues to include the renegotiation of the 2009 ASUU-FGN agreement, outstanding salary arrears, withheld promotions, and poor welfare for retired lecturers.

“As always, it is the FGN that has consistently pushed our union to embark on a strike action, and it is clear that ASUU may have no other option than to press the FGN to listen to our demands and do the needful,” Piwuna said.

The ASUU chief also rejected the government’s proposed tertiary institutions staff support fund loan scheme, describing it as a “trap.”

“Our members do not need loans. What we need is the implementation of agreements that will improve our purchasing power. Government is still owing us three months’ salaries, yet they are asking us to borrow money,” he said.

ASUU further criticised the expansion of universities without sustainable funding, warning that the trend has weakened standards and affected global rankings. On pensions, the union lamented that professors who served for over 40 years now receive as little as ₦150,000 monthly despite inflation and high living costs.

The union said it is awaiting the outcome of a government meeting scheduled for August 28 before making a final decision, but disclosed that members will hold rallies across campuses next week to express their frustrations.

“Time is running out. We cannot continue to wait endlessly while the future of Nigerian universities is destroyed,” Piwuna warned.