GOV. ABIODUN EULOGISES OTEGBOLA AS FORMER SENATOR IS LAID TO REST. (PHOTOS). #PRESS RELEASE.

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 Abiodun Eulogises Otegbola as Former Senator is Laid to Rest Ogun State Governor, Prince Dapo Abiodun, on Thursday, described Senator Ayodeji Otegbola as a distinguished politician and a patriotic Nigerian who dedicated his life to public service and the development of Ogun State and the nation. Abiodun made the remarks at the funeral service of the late Senator Otegbola, held at the African Church St. Paul's Cathedral, Lagos East Diocese, Ilupeju, Lagos State. He said that the deceased made impactful contributions to the development of the country as a Senator and as a former chairman of the Federal Housing Authority (FHA). He stated: "He was a man of impeccable character, a distinguished politician, and a patriotic Nigerian who dedicated his life to public service and the development of our dear state and nation at large. His contributions as a Senator in the Third Republic and as a former Chairman of the Federal Housing Authority were marked by diligence and unwavering com...
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NIGERIANS LOSE OVER N1.3 TRILLION IN CBEX DIGITAL TRADING PLATFORM CRASH. (PHOTO).

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 Nigerians Lose Over N1.3 Trillion in CBEX Digital Trading Platform Crash


Nigerians are reeling from a massive financial blow after CBEX, an unregistered digital asset trading platform, allegedly wiped out over N1.3 trillion from investors’ accounts on Monday. The platform, which operated without approval from the Nigeria Securities Commission (SEC), crashed, leaving investors unable to access their funds.


Outraged investors flooded social media, particularly X, to express their frustration. CBEX reportedly locked its Telegram channels and suspended withdrawals, offering investors verification options of $2,000 for $200 or $1,000 for $100, further fueling suspicions of foul play.


Cryptocurrency expert Taiwo Owolabi estimated the stolen funds at $847 million in USDT, with losses likely to rise. Speaking on an X space, Owolabi criticized the platform’s operations, alleging that CBEX’s website was designed to mask its fraudulent activities. “When you make payments, they move funds from a TRX wallet, convert them to USDT, then ETH. What you see on your profile are just numbers—no real money,” he said, describing the platform’s AI trading as fake.


Public reactions on X were scathing. User Steve Fred called out the gullibility of investors, questioning, “How can a company like CBEX promise 100 percent ROI in one month, and people invest?” Another user, Oku, cautioned against platforms promising exorbitant returns, stating, “The smaller the profit, the more I trust you.”


The SEC had recently warned against unregistered trading platforms, citing the Investment and Securities Act (ISA) 2025, signed by President Bola Tinubu. The act makes it illegal for unregistered entities to operate online forex trading platforms in Nigeria. The commission urged businesses to register to avoid sanctions.

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