
News
Ponzi schemes threat to national security, economy, EFCC warns
The Economic and Financial Crimes Commission has issued a stern warning to Nigerians, particularly the youth, to steer clear of Ponzi schemes.
The commission described them as not only destructive to individual lives but also a serious threat to national security and economic growth.
A statement on Monday by the EFCC’s Head of Media and Publicity, Dele Oyewale, said the Acting Zonal Director of the EFCC in Enugu, Assistant Commander Aisha Abubakar, sounded the alarm on Friday, during the 2025 Annual Management Retreat of the Nigeria Security and Civil Defence Corps in Enugu.
Speaking on the topic “Get-Rich-Quick Syndrome and the Youth Vulnerability: The Case Study of Ponzi Scheme—The Role of Law Enforcement in Prevention and Disruption,” Abubakar decried the growing influence of the get-rich-quick mentality among Nigerian youths, stating that it has become both a security and economic menace.
He stated, “The get-rich-quick syndrome has become a serious economic and security threat in Nigeria, with the youths bearing the brunt. She said that the get-rich-quick syndrome is a mindset characterised by the desire to attain wealth without legitimate, gradual effort, adding that the craving is often fueled by social media portrayals of instant riches and social pressure.
“In Nigeria today, the aspiration for wealth has grown increasingly urgent among the youth, leading to vulnerability to financial frauds such as Ponzi schemes. They often fall victim to enticing schemes that offer double returns within short timeframes, despite the absence of legitimate business operations. The desperation to escape poverty and fund small projects pushes many into high-risk, unregulated investments.”

She cited infamous cases such as MMM Nigeria, MBA Forex, Chinmark Group, and the recent April 2025 collapse of CBEX — a digital asset trading platform that lured thousands with promises of 100% returns in 30 days, only to vanish with investors’ funds.
Abubakar warned that cybercrime, often driven by the same get-rich-quick mindset, has further damaged Nigeria’s international reputation and deterred foreign investment.
“Fraudsters now obtain a competitive advantage over legitimate businesses. This distortion of market systems has far-reaching implications on national security and economic stability,” she said.
The EFCC, she noted that continues to tackle these issues through preventive efforts, including roadshows, public sensitisation, and collaborations with institutions such as the Central Bank of Nigeria, the Securities and Exchange Commission, commercial banks, and INTERPOL to track and disrupt fraud networks.
News
FCT police arrest suspected k!dnappers in viral video wearing military camourflage and brandishing AK-47 rifles
The FCT police command have arrested suspected k!dnappers seen in a viral video openly brandishing AK-47 rifles, ammunition, and walkie-talkies, while dressed in military camouflage.
Confirming their arrest to newsmen, the FCT Commissioner of Police, CP Ahmed Sanusi, said immediately he received the viral video and pictures, he directed a detailed forensic analysis into the origin of the content and ordered the immediate arrest of the suspects.
Sanusi mentioned that following digital forensic analysis and actionable intelligence, he directed operatives of the FCT Police VCRU Sector 5 and personnel from Zuba Division, led by the DPO, CSP Ogu Caleb Ikechukwu, on a coordinated operation at Runji Village, Zuba, on May 25 at about 3:22am, where three suspects featured in the videos were arrested at their hideout.

He gave the names of the suspects as Umar Babangida, 25 years old; Adamu Yeti, 22 years old; and Yahaya Idris, 24 years old, all residents of Rijana, Kaduna State.
The police boss said investigations revealed that the suspects had previously been in possession of the AK-47 rifles, which were obtained from their gang leader identified only as “Esco” from Rijana, Kaduna State who is currently at large.

He mentioned that further investigations also led to the recovery of additional videos and photographs from the suspects’ mobile phones showing them dressed in military camouflage while brandishing AK-47 rifles and carrying walkie-talkies.
The suspects are currently in custody undergoing further investigation, while efforts are ongoing to apprehend Esco the gang leader and other members of the gang who are at large and recover the firearms.
News
Political Rallies: No market closure – Enugu Govt warns
The Enugu State Government has warned against an alleged plan by some market leaders to shut down major markets within the state capital on Saturday to show support during a rally backing reelection of Governor Peter Mbah and President Bola Tinubu.
The government stated that such a move contradicts the Mbah Administration’s determined effort to boost investment, business and productivity in the state, and therefore does not have the government’s blessing.
The government made its position known in a statement issued by the Commissioner for Information and Communication, Dr. Malachy Agbo, on Friday.
It said that people should feel free to go about their businesses, a predisposition it said prompted the decision of Mbah Administration to end illegal Monday sit-at-home effective June 5, 2023.
The statement equally maintained that political association remains an individual right and choice, saying participation in the Saturday rally and subsequent rallies by any group should never truncate businesses or involve any form of compulsion.
“The attention of the Enugu State Government has been drawn to an alleged plan to shut markets in the state capital as a demonstration of solidarity with the Enugu East zonal rally to drum up support for His Excellency, President Bola Ahmed Tinubu, GCFR, and His Excellency, Governor Peter Mbah, ahead of the 2027 general election.

“While the government appreciates the enormous demonstration of goodwill by traders across the state, it frowns, however, at any attempt by any market leader to shut down major markets in the Enugu East Senatorial District on account of the planned rally.
“This is not only contrary to the administration’s vision and drive to grow Enugu State’s economy from $4.4 billion to $30 billion, and also to position the state as the preferred destination for investment, business, tourism and living, but also the decision of the administration to ban illegal sit-at-home effective June 5, 2023.
“Furthermore, the 1999 Constitution (as amended) guarantees freedom of association and assembly. Thus, nothing should be seen to detract from these rights in this or future rallies by any group whatsoever.
“For emphasis, political participation should be voluntary and without any attempt to deny the people access to markets or other public spaces where they earn their daily living.
“Therefore, members of the public, particularly leaderships of various markets in the state should take note, please, as government will not hesitate to impose sanctions on any action to the contrary,” the statement read.
DR. MALACHY AGBO
Commissioner for Information and Communication
Enugu State
05/06/2026
News
Security guard kidnaps employer’s two children, demands ransom
A private security guard has escaped with two kids from his employer in Minna, with the police suspecting abduction.
The security guard, named Sani Abdulrahaman, a Fulani by tribe, on Sunday, reportedly took Umaru and Anas, both six years old, on Sallah picnic without the knowledge of their father, Alhaji Danjuma, a businessman, and failed to bring them back home.
The father of the children raised the alarm asking the public and security agencies to help him locate the fleeing security guard and his children.
Danjuma said someone called him on Sunday evening and said he was in Erena forest in Shiroro Local Government Area with the children.
According to him, the caller asked for undisclosed ransom before his children who were in their custody would be released.
When contacted, Niger State Command Police Public Relations Officer, SP Wasiu Abiodun, confirmed the incident, which he said occurred about one o’clock on Sunday, May 31.

Abiodun explained that the security man pretended that he was taking the children for Sallah celebration in the town, but did not return.
He said the police suspected abduction but disclosed that “investigation has commenced and efforts to locate the children are ongoing.”
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