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CBEX Ponzi Scheme Asks Investors to Return as Lost Balances Are Restored

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….Investors report partial fund restoration but raise concerns over a $100 reactivation demand

The notorious Crypto Bridge Exchange (CBEX), widely recognised as a Ponzi scheme, has resumed operations and asked Nigerian subscribers to return to its platform following reports that previously lost investments have been restored.

This development comes weeks after the scheme abruptly suspended operations in April 2025, leading to widespread financial losses and unrest in several states. Investors say the platform is now prompting them to log back in and claim their balances.

“Someone asked me to log into CBEX account this morning that they have returned our balance,”

one of the investors told Peoples Gazette on Tuesday, while sharing a screenshot as evidence of the restored funds.

However, the platform’s operators are allegedly requesting subscribers to pay a $100 reactivation fee before they can withdraw their investments. This move has triggered suspicions among victims, many of whom believe this may be another tactic to lure people back into the fraudulent scheme.

“But I think it is a way of luring people into it again because we were asked to pay $100 to continue trading with the account before we can apply for withdrawal,” another investor said.

“So, the $100 is for those with investments above $1,000. All those below are asked to pay $100.”

In April, CBEX left thousands of Nigerians stranded when it shut down without notice. Victims claimed the platform, disguised as a digital trading company, had promised to double deposits within 40 days. The abrupt collapse sparked outrage, including a violent raid on the scheme’s Ibadan office.

In the immediate aftermath, CBEX administrators disabled user communications by locking its associated Telegram group, preventing complaints from being aired. The platform blamed the crash on hackers, claiming their system had been compromised.

In response to the scandal, the Economic and Financial Crimes Commission (EFCC) launched an investigation, subsequently arresting several suspects. According to the EFCC, funds linked to CBEX were traced to between three and four foreign countries.

The public is now being urged to remain cautious and avoid making further payments to the platform, as regulatory agencies continue investigations.

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Police Arrest Suspect Over Alleged Rape, Threat to Life in Iganna

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The Oyo State Police Command has arrested a 24-year-old man, Ogunwande Sodiq, over an alleged rape and threat to life in Iganna.

Police said the case was reported by the father of the 18-year-old survivor, who alleged that the suspect broke into his daughter’s room, threatened her with a knife and raped her.

In a statement signed by the Police Public Relations Officer, DSP Ayanlade Olayinka, the Command confirmed that the suspect had been taken into custody.

The police spokesperson said, “The survivor was promptly rescued and taken to a medical facility, where she received appropriate medical care as well as socio-psychological evaluation and support.”

He added that detectives visited the scene, recovered a knife and a bedsheet as exhibits, and documented evidence.

According to the statement, “He has confessed to the crime and is cooperating with the police, facilitating the ongoing investigation.”

The suspect is expected to be charged to court after investigations are completed.

Why This Matters

Sexual violence remains a major concern in Nigeria, with advocacy groups repeatedly calling for stronger enforcement of laws and better survivor support systems.

Under Nigeria’s Violence Against Persons (Prohibition) Act (VAPP), rape and threats to life are serious offences punishable by law.

The Oyo Police Commissioner described the alleged act as “heinous, barbaric, and unacceptable,” assuring that the suspect would face the full weight of the law.

The case has been transferred to the Command’s Gender Desk in Ibadan for what police described as a “discreet and thorough investigation.”

What Happens Next

Police say investigations are ongoing and the suspect will be formally charged once completed.

The Command has urged residents to report sexual violence and other crimes promptly.

For emergencies, the Oyo State Call Response Center can be reached toll-free via 615, while the Police Control Room numbers are 08081768614 and 07055495413.

Impact on the Community

Incidents of sexual violence often leave long-term emotional and psychological effects on survivors and families.

Authorities say prompt reporting and coordinated response between families, police and healthcare providers can improve outcomes.

The case is likely to renew conversations in Oyo communities about safety, prevention and justice for survivors.

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NDLEA Bonny Island Raid: Officer Killed as Six Suspects Arrested, Hard Drugs Seized

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An officer of Nigeria’s National Drug Law Enforcement Agency (NDLEA) has died following a violent confrontation during a drug raid in Bonny Island, Rivers State.

Chief Narcotic Agent Sadiq Bako Mujahid sustained severe head injuries after suspects allegedly mobilised armed hoodlums to resist arrest.

Despite the attack, operatives arrested six suspects and recovered a cache of cocaine, heroin, methamphetamine, skunk and tramadol.

What Happened in Bonny Island

The raid targeted Ama Hausa, described by the agency as a notorious drug enclave on Bonny Island.

According to the NDLEA, the operation was carried out on Friday, 6 February 2026.

Among those arrested is the alleged gang leader, Genesis George Benson, whom the agency accuses of orchestrating the violent attack that led to Mujahid’s death.

Other suspects named by the agency include ThankGod Okon, Shamsudden Isah, Muhammed Musa, Adamu Muhammed and Muhammed Yusuf.

The NDLEA said the officer was rushed to Bonny Island General Hospital but later died from his injuries.

Marwa Reacts

The Chairman and Chief Executive Officer of the NDLEA, Brig Gen Mohamed Buba Marwa (Rtd), praised the officers involved in the operation.

“I salute the gallantry of our men who refused to be intimidated by these criminal elements. Even after the cowardly attack on Mujahid, our operatives ensured that the assailants were overpowered and arrested, and their illicit substances confiscated. Their sacrifice will not be in vain.”

He described the deceased officer as disciplined and courageous.

“We extend our deepest condolences to his family, his colleagues, and the Rivers State Command.”

Marwa also issued a warning.

“Any attack on our officers is an attack on the state, and it will not go without dire consequences. We remain undeterred in our mission to rid Nigeria of illicit drugs, and we will continue to take the fight to the enclaves of these merchants of death.”

Why It Matters

Bonny Island is a strategic oil and gas hub in Rivers State.

Illicit drug networks have also been linked to youth violence and organised crime across parts of the Niger Delta.

Community leaders in Bonny have previously raised concerns about the impact of drug abuse on young people and local security.

The Bigger Picture: Nigeria’s Drug War

The NDLEA has intensified raids across several states in recent months, targeting known drug corridors and trafficking hubs.

Officials say the agency has recorded increasing seizures of cocaine, heroin, methamphetamine and pharmaceutical opioids such as tramadol.

However, rights groups have also urged authorities to ensure operations are intelligence-led and that suspects are treated according to due process.

What Happens Next

The six suspects are expected to face investigation and possible prosecution.

Authorities have not yet announced specific charges.

For residents of Bonny Island, the incident raises fresh concerns about security in a community vital to Nigeria’s energy sector.

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Nigerian Man Jailed in US for Falsifying Documents to Obtain Student Visa

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Mercy Ojedeji, 26, was sentenced to 41 months in prison by a US District Court after pleading guilty to immigration and wire fraud offences.

US District Judge Henry E. Autrey handed down the sentence following Ojedeji’s admission that he submitted fraudulent documents to obtain a US student visa.

Court records show he used counterfeit academic transcripts, letters of recommendation, a fabricated résumé, and a falsified English language proficiency report.

How the fraud worked

According to prosecutors, the documents helped Ojedeji secure admission into a chemistry PhD programme at the University of Missouri for the Fall 2023 academic session

The admission came with a tuition waiver and stipends worth about $49,000, paid by the institution.

Authorities say Ojedeji failed to attend classes and was dismissed from the programme in January 2024, which led to the termination of his student visa.

Further violations

Despite losing his legal student status, investigators said Ojedeji later used the invalid visa to obtain a US driver’s licence.

That licence was then used to open a bank account, which prosecutors allege became part of a money mule operation involving his girlfriend.

US authorities did not disclose the full details of the alleged financial scheme.

Why it matters

The case highlights growing concerns among US authorities about student visa fraud and the misuse of academic admissions to bypass immigration controls.

Impact on international students

Universities in the US rely heavily on trust-based academic documentation, especially for international admissions.

Cases involving forged credentials can increase scrutiny for future applicants, potentially slowing processing times and raising costs for legitimate students.

What authorities say

US court filings describe the offence as a deliberate and coordinated attempt to defraud both immigration authorities and an academic institution.

Prosecutors said the sentence reflects the seriousness of abusing the student visa system and public funds.

What’s next

Ojedeji will serve his prison term in federal custody before facing possible deportation at the end of his sentence.

US immigration authorities are expected to review his status once the jail term is completed.

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