
News
Court grants two CBEX promoters N10m bail each
The Federal High Court in Abuja has granted bail to two promoters of the collapsed investment platform, Crypto Bridge Exchange (CBEX), in the sum of N10 million each.
Justice Mohammed Umar ruled in favour of Awerosuo Otorudo and Chukwuebuka Ehirim, admitting them to bail with two sureties each in like sum.
Justice Umar ordered that the sureties must own property within the court’s jurisdiction equivalent to the bail sum, and their residences must be verified by the court registrar. The judge adjourned the trial to October 13.
This decision followed the July 7 hearing on their bail application, which had been opposed by the Economic and Financial Crimes Commission (EFCC). The EFCC arraigned the defendants on an amended three-count charge marked FHC/ABJ/CR/216/2025. The charges include illegal financial operations and collecting public funds with promises of up to 88 percent return on investment, all without regulatory approval.
In a related development, Justice Umar fixed July 25 for ruling on the bail application of Adefowora Abiodun, the Managing Director of ST Technologies International Limited, who is also facing charges related to the alleged CBEX investment scam. He and his company were arraigned on an amended eight-count charge marked FHC/ABJ/CR/215/2025.

Abiodun’s counsel, Babatunde Busari, urged the court to grant bail on liberal terms, arguing that the offences are bailable and that his client voluntarily submitted to the EFCC. Busari also cited medical grounds, noting Abiodun’s urgent need for eye surgery which had been delayed due to his detention over the past 80 days.
“He (Abiodun) came to us as counsel and we took him to the commission. He also has a medical report that shows that the 1st defendant requires urgent eye surgery and that has not been possible for him for the past 80 days that he has been in detention. We, therefore, urge the court to admit the defendant on bail as the total of the monetary claim is about N20 million naira,” he said.
EFCC counsel Fatsuma Mohammed opposed the bail, citing the severity of the charges. She warned that Abiodun posed a flight risk, stating, “The section consequent to which the defendant is being charged, upon conviction, is seven years and it is enough number of years which is enough for him to try to run.”
Justice Umar ordered Abiodun to remain in EFCC custody pending the July 25 ruling.
CBEX is among several digital platforms that collapsed after allegedly defrauding investors of large sums.
Justice Emeka Nwite of a sister court had earlier granted the EFCC authority to arrest six CBEX operators, including Abiodun, over their alleged involvement in the fraud.
The EFCC, in its motion ex-parte filed April 23, told the court it was investigating an alleged investment scheme fraud involving CBEX and ST Technologies International Limited.
It claimed the platform promised unrealistic returns of up to 100 percent and instructed victims to convert digital assets into USDT for deposit into the suspects’ crypto wallets.
According to the commission, victims initially had access to monitor investments, but after deposits exceeding one billion dollars, the platform became inaccessible.
Investigations revealed that ST Technologies was registered with the Corporate Affairs Commission but not with the Securities and Exchange Commission, as required for investment operations.
The suspects allegedly vacated their known addresses in Lagos and Ogun States.
The EFCC said a prima facie case of investment fraud had been established and urged the court to keep the suspects in custody to ensure justice.
News
Deputy Speaker Kalu breaks silence on N780m Budget controversy, says Fund not meant for Churches alone
Deputy Speaker House of Representatives, Benjamin Kalu has said that the N780m (seven hundred and eighty million naira) featured in the 2026 Federal budget was not solely earmarked for procurement of church musical instruments in his Bende Federal constituency, as being circulated in news.
Kalu was reacting to the social media reports which alleged that one billion naira had been set aside to purchase church musical instruments in the Deputy Speaker’s constituency in Bende.
A statement issued on Wednesday by Levinus Nwabuhiogu, the Chief Press Secretary to the Deputy Speaker, said that the actual amount involved in the budget proposal was N780 million after Vat and other tax deductions.
He said that more than 130 churches in Bende were to receive between N5m and N6m each as support for first phase youth re-orientation and social support programmes delivered evangelistically through faith-based organizations in Bende federal constituency of Abia State.
The Deputy Speaker noted that the equipment of churches was to expand existing youth engagement platforms focused on character reform, discourage narcotics use, sexual offense and violent crimes among the youths.

“The funds are intended to support the purchase of evangelical instruments and public address systems to promote campaigns against vices like the spread of narcotics, sexual offences, violent crimes while instilling discipline, values, peace, and character development among young people in the communities”, the statement said.
Kalu, who said that the N780 million fund is yet to be released because the 2026 budget had not been implemented, noted that selected churches would be credited when procurement processes are concluded.
News
PFIPC Probe: Why Tinubu’s Chief of Staff, Head of Service, Accountant-General should step aside — Opara
The Chief of Staff to the President and the Head of the Civil Service of the Federation and the Accountant-General of the Federation have been called upon to step aside over their alleged links to the fake Presidential Foreign Intervention Promotion Council (PFIPC).
Making the call yesterday, Tuesday, July 21, 2026, lawyer and public affairs commentator Maxwell Opara, insisted that no public official should remain in office while under criminal investigation.
Speaking during an interview with ARISE News, Opara stated that the alleged establishment of the fake agency, the allocation of office space and the opening of bank accounts pointed to an already established criminal case that required equal treatment of all those implicated.
“There is an established crime. A fake agency was established. An office was given to the fake agency. An account was opened for the fake agency. Somebody was acting as a director in the fake agency.”
He maintained that while the alleged fake director had been arrested, other public officials mentioned in the investigation should not be treated differently.

“The Chief of Staff, the Head of Service and the Accountant-General are suspects. None of them is above the law.”
Opara criticised the decision to invite some officials for questioning while leaving them in office, arguing that such an approach could undermine public confidence in the investigation.
“If you have arrested somebody, these other suspects should be arrested like the principal suspect. Nobody is above the law.”
He further stated that public officials occupying sensitive positions should voluntarily step aside to allow an independent investigation.
“One expected all of them that are suspects in this matter to step down. If you cannot resign, step aside.”
According to him, remaining in office while under investigation creates the impression that those officials could influence the outcome of the probe.
“You cannot be a judge in your own case. People will see it as though you want to use your office to influence investigators.”
Responding to questions about evidence involving a deceased intermediary allegedly linked to financial transactions in the case, Opara said the courts would determine the weight of such evidence based on available testimony and documentary records.
“The court will decide based on the evidence presented, the testimony before it and the outcome of cross-examination.”
He also dismissed the Chief of Staff’s reported decision to pursue a defamation suit against the principal suspect, describing it as a distraction from the ongoing investigation.
“Rushing to court to sue for defamation is a distraction. The priority should be to step aside and allow the investigation to proceed.”
Opara expressed doubts about the outcome of the investigation, arguing that the seniority of those allegedly involved could affect the process.
“If they want Nigerians to believe they are fighting corruption, they should treat everybody equally. Nobody should be made a scapegoat.”
He concluded that public confidence in the investigation would depend on whether anti-corruption agencies applied the laws guiding impartially, regardless of the status or position of those implicated.
News
Gunmen kill four herders from same family, raze cattle camp, slaughter cows in Anambra
• MACBAN reacts, sues for peace
The Anambra State Police Command has confirmed the killing of four herders and the destruction of a cattle camp after suspected gunmen attacked a settlement in Ifite Awka Community, Awka South Local Government Area of the state.
The police said the attackers invaded the camp on Tuesday, killing four male victims, setting residential huts ablaze and slaughtering several cattle before fleeing the scene.
Confirming the incident in a statement, the Police Public Relations Officer, SP Tochukwu Ikenga, said a police-led Joint Security Team responded to the attack following a distress call.
According to him, the operatives discovered the bodies of four victims who had been brutally murdered.
“Preliminary observations revealed that the victims had their hands tied and sustained multiple injuries, including machete cuts and blunt force trauma. Also, two residential huts within the settlement were set ablaze during the attack,” Ikenga said.

The police spokesman added that officers also found four dead cows within the settlement, while two other cattle had been slaughtered, with parts of their meat removed by the attackers.
He disclosed that security operatives recovered sacks containing abandoned chunks of meat a short distance from the scene.
Ikenga said preliminary investigations indicated that the attackers were armed with sophisticated weapons, including AK-47 rifles, pump-action guns, double-barrel guns and machetes.
He added that one survivor escaped unharmed and was assisting investigators with useful information that could help identify and arrest the perpetrators.
“The survivor is currently assisting the Police-led Joint Security Team with useful information that could aid the ongoing investigation,” he said.
The police command urged residents to remain calm and support security agencies with credible information, assuring that further updates would be communicated as investigations progress.
Following the attack, the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) condemned the killings and appealed to its members to remain peaceful while security agencies investigate the incident.
In a statement signed by its National Deputy Director-General, Gidado Siddiki, the association identified the four victims as Mohammed Bujumi, Hassan Bujumi, Abubakar Bujumi and Sani Bujumi, saying they were members of the same family.
According to Siddiki, the attack occurred at the cattle camp of Alhaji Aminu Mohammed on Tuesday.
“According to reports, unknown armed assailants invaded the cattle camp while the herders were peacefully engaged in their legitimate cattle-rearing activities,” he said.
“The attackers opened fire sporadically, resulting in the deaths of four herders, namely Mohammed Bujumi, Hassan Bujumi, Abubakar Bujumi and Sani Bujumi.
“Several cattle were also killed during the attack, while the assailants reportedly fled with some of the cattle carcasses towards the nearby Mgbakwu Community.”
Siddiki disclosed that another herder, identified as Usman Iliyasu, narrowly escaped the attack.
Describing the incident as “heinous and senseless,” MACBAN called on security agencies to conduct a thorough investigation, arrest those responsible and ensure they are prosecuted.
The association also urged the Anambra State Government to strengthen security across the state to safeguard lives and property.
While appreciating the prompt response of the Joint Task Force and the Anambra State Government in recovering the victims’ bodies, Siddiki appealed to members of the association not to resort to reprisals
“We urge everyone to cooperate fully with the security agencies and allow the government to carry out the necessary investigations and take appropriate action to ensure justice is served,” he said.
The latest attack has heightened concerns over security in Awka, the Anambra State capital, as authorities intensify efforts to track down those behind the killings.
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