ANAMBRA POLICE ARREST SUSPECTED ARMED ROBBERY SUSPECT, RECOVER LARGE QUANTITY OF SUSPECTED CANNABIS SATIVA IN OZUBULU. (PHOTO). #PRESS RELEASE.

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 ANAMBRA POLICE ARREST SUSPECTED ARMED ROBBERY SUSPECT, RECOVER LARGE QUANTITY OF SUSPECTED CANNABIS SATIVA IN OZUBULU The Anambra State Police Command has recorded another operational success following a targeted raid operation conducted by operatives of the Rapid Response Squad (RRS), Awkuzu, in the early hours of 5th November 2026, leading to the arrest of a 24-year-old suspect, identified as Chinedu Simon, in Ozubulu, Ekwusigo Local Government Area of the State. The suspect was arrested over alleged involvement in armed robbery and unlawful possession of a large quantity of substances suspected to be Cannabis Sativa. During preliminary interrogation, the suspect allegedly confessed to involvement in the illicit drug trade. Further intelligence gathered by the operatives indicated that suspected criminal elements allegedly converged at his residence before embarking on criminal activities. The suspect is currently in police custody, while investigations are ongoing to establish ...
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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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