
News
Wonder Bank: Another Failed Ponzi Scheme, Why Nigerians Can’t withdraw their money on CBEX

Nigerians on several social media platforms have begun to count their losses as a digital asset trading platform popularly known as CBEX reportedly swept over N1.3 trillion from their investors’ accounts.
The digital trading platform crashed on Monday after the money in their investors’ wallets vanished.
CBEX also locked its telegram channels and postponed its withdrawals while giving investors the lifeline of $2,000 for $200 verification and $1,000 for $100 verification.
Analysing the crash on X space organised by Trending X, a cryptocurrency expert and security analyst, Taiwo Owolabi said data has shown that the money was moved to a TRX address (yourself:TDqSquXBgUCLYvYC4XZgrprLK589dkhSCf) and a total volume stolen so far in USDT is $847 million and likely to increase.
Owolabi stressed that the invested funds are gone because CBEX is not a licensed platform, and the creators designed a weak website to look like ByBit, which is a legitimate trading platform.
“They designed the weak website to convince people in the future that it was a security breach that affected them. Apparently, when you make payments, you pay them into a TRX account, and then, immediately, they move it from that TRX wallet, gather it, convert it to USDT, then to ETH. So, when you are logging into your account, there is literally no money on your profile.
“What you see are just numbers. All the daily activities you do to ‘trade’ increase your money. All the AI trading is fake. When it’s time for withdrawal, they will send you another person’s money.
“Since, you won’t be leaving them because of greed. You will most likely put the money back and even more. So, they will use that same money to pay another person. As you spread the word for them, more people will join and do the same.”
What exactly is CBEX?
CBEX is a digital trading asset platform that gives investors 100 per cent Return On Investment in 30 days. Its purported goal was to create a secure, transparent environment for transactions.
However, its operational model now comes under scrutiny as allegations of fraud and deceptive practices emerge. The platform is said to display falsified withdrawal records to mask the difficulties users encounter when trying to access their funds.
Owolabi, while explaining on the X space, said that in reality, all the funds are gone. Unless people decide to pay the $100 and $200 verification fees, that way, they will settle some people and leave others to languish.
He also maintained that it was the same way popular Ponzi schemes that have duped Nigerians in the past behaved, adding, “It is a rob Peter to pay Paul’ deal.
SEC warns Nigerians against investing in Ponzi schemes
However, amid the growing concerns of the crash, the SEC clarified that, in accordance with the ISA 2025 recently signed by President Bola Tinubu, it is now an offence for any entity to operate an online forex trading platform or provide related services without prior registration with the commission.
“By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.
“Any business entity with the plan of setting up a business in any of these areas is advised to visit the HOD DRM Department of the commission for further direction on how to register with the commission to avoid sanctions,” it added.
The commission noted that “Under the newly enacted legislation, the Securities and Exchange Commission (SEC) is now empowered to regulate a broader scope of market activities as Section 3(3)(b) of the Act explicitly mandates the commission to “register and regulate securities exchanges, commodity exchanges, virtual and digital asset exchanges, and other market venues.”
Speaking on the development, the director general of the commission, Dr Emomotimi Agama, described the new law as “a landmark step in positioning Nigeria’s capital market to be more inclusive, robust, and in tune with global best practices.”
He stated, “The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence, especially in new and previously unregulated segments such as digital asset exchanges and online foreign exchange platforms.”
The commission reaffirmed its commitment to supporting innovation while maintaining strict oversight. “We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market,” Agama added.
News
Use only official passport, visa websites, NIS tells Nigerians, foreigners

The Service stated this in a statement posted on its official X handle on Wednesday.
According to the NIS, the only authorised platform for passport payments by Nigerians, both within the country and in the diaspora, is its official passport portal.
It added that foreigners seeking Nigerian visas should use only its official visa portal for embassy applications or the designated e-visa portal for electronic visa applications.
It said, “The Nigeria Immigration Service wishes to reiterate that the only authorised platforms for passport payments for Nigerians (at home and in diaspora) is https://passport.immigration.gov.ng.
“For foreigners wishing to apply for visa, https://visa.immigration.gov.ng (for visa at the Embassy) and https://evisa.immigration.gov.ng (for e-visa) are the official links.
The NIS urged applicants who require clarification or assistance with passport or visa applications to contact its verified communication channels.
It listed its official X accounts as @nigimmigration and @InquireAtNaija, while its verified Facebook and Instagram handles are @nigimmigration.
The Service also provided WhatsApp numbers 09160878000 and 09117717772 for enquiries and support.
The statement reiterated the Service’s commitment to ensuring secure and transparent passport and visa application processes, urging the public to avoid fraudulent intermediaries.
News
US to stop routine visa processing at Abuja embassy, 24 other African missions

The US Department of State said the move is aimed at centralising routine visa services in regional hubs to enhance national security, reduce government spending, and ensure greater consistency in visa screening, vetting and adjudication.
In a statement on the US Department of State website on Wednesday, the department said the reorganisation aligns with the President Donald Trump’s administration’s priority of placing America’s interests and security first.
“The Department of State is constantly evaluating its overseas operations in order to advance America’s priorities as efficiently and effectively as possible. This includes a visa process that maintains rigorous standards of security screening and vetting and aligns resources and operational capacity with America’s national interests.
“The Trump administration has no higher priority than the safety and security of Americans, and the State Department will continue to provide Americans with appropriate consular services and assistance at diplomatic posts around the world,” the statement read.
Besides Abuja, the affected diplomatic posts are located in Asmara, Bamako, Banjul, Brazzaville, Bujumbura, Conakry, Cotonou, Durban, Freetown, Gaborone, Harare, Juba, Libreville, Lilongwe, Lusaka, Maputo, Maseru, Mbabane, N’Djamena, Niamey, Nouakchott, Ouagadougou and Windhoek.
It also emphasised that all diplomatic missions will continue to provide consular services and carry out their regular functions on behalf of the United States.
The department further assured travellers that the policy does not invalidate visas that have already been issued.
The United States periodically reviews its global diplomatic operations to reallocate resources and streamline consular services.
Under the new arrangement, applicants in countries affected by the policy are expected to access routine visa services through designated regional processing hubs, while embassies and consulates continue to provide other diplomatic and consular assistance.
News
Mother of Six Allegedly Raped, Tortured, Abandoned in ‘Evil Forest’ in Enugu

The Women’s Aid Collective (WACOL) has condemned the alleged rape, severe domestic violence, mob torture and attempted murder of a 34-year-old mother of six in Aninri Local Government Area of Enugu State.
WACOL, in a statement signed by its Senior Communication Officer, Ezugwu Bethel, said it received the reports with “profound shock, outrage and deep sorrow,” describing the incident as a gross violation of human dignity, fundamental human rights and the Violence Against Persons Prohibition (VAPP) Law 2019 of Enugu State.
According to the organisation, the survivor had allegedly endured years of domestic violence at the hands of her husband, who reportedly physically assaulted her and her mother.
WACOL said the woman, in an attempt to escape the abuse, rented a separate apartment, but her husband allegedly tracked her down and attacked her on the night of July 17, forcing her to flee to her mother’s residence.
The organisation alleged that the husband followed her there and threatened to kill her if she remained, forcing her to seek refuge with a male palm kernel trader.
According to WACOL, because the trader was married, he took the woman to a friend’s house for temporary shelter. However, the organisation alleged that the friend and another resident connived to restrain the trader and raped the woman.
WACOL further alleged that the attackers subsequently locked the woman and the trader inside the house before informing her husband of their whereabouts.
The organisation claimed that the husband arrived with a mob, broke down the door and allegedly subjected the woman and the trader to severe physical abuse.
It alleged that the husband publicly raped the woman while members of the mob restrained the trader, who had reportedly attempted to help her.
WACOL further alleged that the husband took the woman’s money, used it to buy drinks for youths and other members of the community, and allegedly incited them to attack the woman and the trader.
The organisation said the mob stripped the two victims naked, spat on them and beat them severely. It further alleged that some female members of the mob used broken bottles to shave the woman’s hair, while the victims were also allegedly inflicted with multiple cutlass wounds.
According to WACOL, the severely injured woman was subsequently dragged into an “evil forest” and abandoned.
The organisation said the woman spent three days in the forest before, despite her injuries, crawling to the main road, where she was discovered by Good Samaritans who contacted her sister and facilitated her rescue.
WACOL said the survivor is currently receiving medical treatment at a police clinic while remaining in hiding for fear of further attacks.
The organisation also raised concerns over the whereabouts of the male palm kernel trader, who was allegedly tortured alongside the survivor, saying his current location remains unknown.
WACOL said the police had arrested the woman’s husband and some female accomplices, but alleged that several other suspects remained at large.
The organisation also expressed concern over alleged interference by community leaders, claiming that the traditional ruler and President General of the community had banished the survivor and her family after they reported the incident to the police.
WACOL described the alleged banishment as victim-blaming and an abuse of power, adding that the community leaders must be held accountable if found to have obstructed justice or aided criminal suspects.
The organisation commended the Enugu State Police Command for its intervention but called on the Commissioner of Police to ensure that all fleeing suspects are arrested and prosecuted.
WACOL also demanded an immediate search and rescue or recovery operation for the missing palm kernel trader.
It further called on the Enugu State Government and the Ministry of Chieftaincy Matters to investigate the alleged roles of the traditional ruler and President General, while demanding adequate security for the survivor, her sister and other family members.
WACOL said its legal and psychosocial teams had been activated to support the survivor in her recovery and pursuit of justice.
The organisation called on Nigerians, human rights groups and the media to join the campaign for justice for the mother of six.
News
Bishop Oyedepo to Youths: ‘9jabet Won’t Make You Rich; Better Wake Up’

Founder of Living Faith Church Worldwide, Bishop David Oyedepo, has warned Nigerian youths against depending on sports betting as a pathway to wealth, saying lasting success can only be achieved through hard work, patience and integrity.
Speaking during a message to members of his congregation, the cleric described betting as a dangerous distraction capable of destroying the future of young people and preventing them from fulfilling their God-given potential.
Oyedepo urged youths to resist the growing temptation of seeking quick riches through gambling, stressing that genuine prosperity is built on diligence, discipline and purposeful living.
“Young people, 9jabet is not the way to financial fortune. Stop wasting your destiny,” he declared.
He emphasised that although the journey to success may sometimes appear slow, honest labour and consistency ultimately produce more enduring rewards than relying on luck or shortcuts.
“It may be slow, but it’s sure,” he added.
The bishop also reflected on his personal life, recalling how his mother’s unwavering faith influenced his decision to become a Christian at the age of 15.
He recounted how he later expressed his gratitude by buying her a car while she was living in the United States, describing the gift as one that brought her immense joy before her passing at the age of 92.
Using the experience to encourage young people, Oyedepo urged them to embrace faith, perseverance and gratitude instead of pursuing instant wealth through betting.
He concluded his message by urging Nigerian youths to rethink their priorities and make choices that would guarantee a brighter future.
“You better wake up,” he said.
News
Failed Trip: Nigerian woman dies of cardiac arrest during UK visit

Family members have launched a fundraising campaign to repatriate the remains of a Nigerian woman, Christiana Nwosu, who reportedly died of cardiac arrest while visiting the United Kingdom.
The information came on Monday from a GoFundMe appeal signed by Chijioke Metuka on behalf of the Nwosu family.
According to Metuka, Nwosu died on July 19, 2026, leaving her children and loved ones devastated by the sudden loss.
Metuka described the deceased as “a beacon of light, love and warmth” whose passing had created an irreplaceable void in the lives of those who knew her.
The family said its greatest wish was to honour her memory by returning her body to Nigeria for burial, where she would be laid to rest among her extended family and ancestral roots.
The appeal read, “During this time of immense grief, Izuchukwu and his family’s deepest wish is to honour her memory by laying her to rest in her homeland of Nigeria, surrounded by her extended family and roots.
“Repatriating a loved one from the UK to Nigeria comes with significant and unexpected financial burdens.”
However, the family noted that repatriating her remains from the UK would cost about £10,000, covering funeral director fees, specialist repatriation services and documentation, air freight charges, transportation, and funeral and burial expenses in Nigeria.
“We have set up this fund to support Izuchukwu and his family during this incredibly difficult time. Every single donation, no matter the size, will go directly towards covering these repatriation and funeral expenses to help ease the financial strain on the family,” the appeal read.
The organisers appealed to members of the public to support the family through donations or by sharing the fundraising campaign with others.
“If you are unable to donate, please consider sharing this page with others and keeping Izuchukwu and his family in your thoughts and prayers.
“Thank you from the bottom of our hearts for your kindness, generosity and support,” the statement added.
As of the time of filing this report, a sum of £7,941 had been raised out of the £10,000 target.
In February a Nigerian woman, Oluranti Akinyemi, died in the UK shortly after arriving in the country for her son’s graduation ceremony.
Her family had launched a fundraising campaign on JustGiving to raise £20,000 to repatriate her remains to Nigeria and cover related expenses.
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