CBEX probe: Investors won’t get dollar refunds, says EFCC boss - Newstrends
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CBEX probe: Investors won’t get dollar refunds, says EFCC boss

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Chairman of EFCC, Ola Olukoyede

CBEX probe: Investors won’t get dollar refunds, says EFCC boss

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said the agency had recovered some money from crypto bridge exchange (CBEX), a failed digital investment and trading platform.

In an interview on a national television programme, Olukoyede announced that the EFCC had made some arrests in connection with the CBEX fraud.

The EFCC chairman said the commission had made significant progress in its investigation.

“We have gone far with CBEX. We have been able to recover a reasonable amount of money. We have gone far. We have made a reasonable arrest.

“We are not going to give out much because we don’t want the process to be disrupted. We are still after quite a number of people we have declared wanted,” he said.

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Olukoyede explained that investors may not get their money back in dollars because of the difficult process in converting the money, which was traded in cryptocurrency.

“Even though in the crypto wallet, the same way the money was taken from them. There is no way you will get them in dollars. There is no way you get the dollars in cash without necessarily going through the same process,” he said.

The EFCC chairman stressed that the investigation had been challenging because the fraudsters used “non-custodial wallets,” which means there was no identity attached to the accounts, making it harder to trace the criminals.

“We are still investigating a lot of wallets and the wallets they created are called non-custodian wallets. In other words, no KYC. So, you can’t trace it to anybody,” Olukoyede said.

“So, from the noncustodial wallet, they moved it to some wallets in Europe, Eastern Europe, particularly Cambodia, and from there, they dispersed the money. We have been able to block some of these wallets where money has not been dispersed.

“That is to the extent that we have gone. I even learnt that there are still some of these perpetrators, and Nigerians are still falling victim. I believe people should learn from this.”

 

CBEX probe: Investors won’t get dollar refunds, says EFCC boss

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El-Rufai to Appear Before EFCC After Alleged Airport Arrest Attempt

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Former Kaduna State Governor, Malam Nasir El-Rufai
Former Kaduna State Governor, Malam Nasir El-Rufai

El-Rufai to Appear Before EFCC After Alleged Airport Arrest Attempt

Former Kaduna State Governor, Malam Nasir El-Rufai, is scheduled to appear before the Economic and Financial Crimes Commission (EFCC) at 10:00 a.m. on Monday, February 16, 2026, following what his legal team described as an attempted arrest at the Nnamdi Azikiwe International Airport, Abuja.

El-Rufai’s counsel, Ubong Esop Akpan, disclosed this while reacting to Thursday’s incident involving security operatives. According to him, the former governor was approached shortly after arriving in Abuja aboard Egypt Air flight MS 877 from Cairo, where he had reportedly travelled for medical treatment and rest.

Akpan described the development as a “flagrant violation of constitutional rights, executive overreach, and deliberate disregard for the rule of law.” He explained that the EFCC invitation was delivered to El-Rufai’s residence while he was already outside Nigeria, making immediate compliance “illogical and impractical.” According to the lawyer, it was unreasonable to expect instantaneous attendance from someone who was abroad at the time the invitation was issued.

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The legal team said it had formally communicated with the EFCC since December 2025, assuring the Commission that El-Rufai would comply upon his return. He added that the EFCC was explicitly notified that the former governor would voluntarily appear at the Commission’s office by 10:00 a.m. on Monday, specifying both the date and time. Resorting to an attempted arrest despite that commitment, he argued, amounted to arbitrary conduct and procedural abuse.

Akpan further alleged that El-Rufai’s passport was seized during the encounter and demanded its immediate return, along with a formal apology. He maintained that there was no lawful basis for the attempted arrest or what he termed mistreatment, stressing that El-Rufai had publicly affirmed his willingness to face any legitimate investigation.

As of the time of filing this report, the EFCC has not issued an official statement regarding the airport incident or the exact nature of the allegations under investigation. However, sources indicate that the former governor’s invitation may be linked to ongoing investigations into alleged financial transactions and administrative decisions during his tenure in Kaduna State.

The development has generated significant political interest, given El-Rufai’s influence in national politics and his outspoken role in governance debates. His scheduled appearance before the anti-corruption agency on Monday is expected to shed more light on the allegations and determine the next steps in the matter.

El-Rufai to Appear Before EFCC After Alleged Airport Arrest Attempt

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Four Sentenced to Death for Murder of Ahoada DPO in Rivers

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Four Sentenced to Death for Murder of Ahoada DPO in Rivers

A Rivers State High Court in Port Harcourt has sentenced four individuals to death by hanging for their involvement in the brutal killing of Superintendent of Police (SP) Bako Amgbashim, the former Divisional Police Officer (DPO) of Ahoada East Division. The verdict, delivered on Thursday, February 12, 2026, marks a major milestone in a high-profile case that captured national attention nearly three years ago.

Justice Sika Aprioku, presiding over the case, found Robinson Sonabari, a native doctor; Bright Okparawo; Precious Amaeze, popularly known as “Selina”; and Loveday Jack, also called “Ragged Excess,” guilty of conspiracy, murder, membership of a secret cult group, and robbery. The judge ruled that the prosecution had proven its case beyond reasonable doubt and ordered that the four convicts be executed by hanging, the maximum penalty under Nigerian law.

Additionally, Samuel Nwadinma, the sixth defendant, was convicted of conspiracy and sentenced to three years’ imprisonment. One defendant was discharged and acquitted due to insufficient evidence, while five others — previously found guilty of cult group membership — were freed after the court noted they had already served the statutory term while in custody.

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The case arose from the murder of SP Bako Amgbashim on September 8, 2023, during a police operation in Odemude community, Ahoada East Local Government Area. The officer was ambushed and killed by suspected cultists, and his body was reportedly mutilated, sparking widespread outrage and prompting intensified security operations in the area.

During the trial, it emerged that Robinson Sonabari played a key role, allegedly preparing the charm used to execute the attack on the late DPO. Prosecutors presented eyewitness testimony, forensic evidence, and confessions, while the defense failed to disprove the charges, leading to the death sentences.

Speaking to journalists after the ruling, lead prosecution counsel Chigozie Amadi of the Rivers State Ministry of Justice described the judgment as a triumph of justice. He was joined by Celestine Dickson, representing the Nigeria Police, who condemned the rising attacks on law enforcement officers and stressed that the ruling would serve as a deterrent to criminal elements targeting security personnel.

Akasco Amgbashim, elder brother of the slain officer, expressed relief at the verdict, thanking the judiciary, the state government, and the police for pursuing justice. He emphasized that the ruling should remind all that no one has the right to unlawfully take another person’s life.

The four condemned convicts were among 72 individuals originally arraigned before the court by a joint prosecution team from the Department of Public Prosecutions and the Rivers State Police Command. During the trial, 61 defendants, including traditional ruler Eze Kelvin Anugwo and former Ahoada East Council Chairman Cassidy Ikegbidi, were discharged and acquitted due to lack of evidence, leaving 13 to face final judgment.

Thursday’s verdict brings closure to a case that began with the tragic murder of SP Amgbashim, reinforced by joint security operations that later led to the killing of a suspected cult leader, David Okparanwo (“2Baba”), believed to have orchestrated the attack. The judgment is seen as a strong statement that violent crimes against law enforcement officers will not go unpunished.

Four Sentenced to Death for Murder of Ahoada DPO in Rivers

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Nigerian Army Rescues Eight Kidnapped Wedding Guests in Kano

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Nigerian military troop

Nigerian Army Rescues Eight Kidnapped Wedding Guests in Kano

Nigerian Army troops have successfully rescued eight of the ten people abducted during a wedding ceremony in Dabawa, Shanono Local Government Area of Kano State, security sources confirmed on Thursday, February 12, 2026. The operation highlights the military’s ongoing efforts to combat banditry and kidnappings in northern Nigeria.

According to a credible Army Headquarters source, a group of gunmen dressed in military camouflage stormed the wedding on Wednesday, February 11, 2026, and forcibly abducted several guests. The assailants reportedly fled toward neighboring Katsina State after the attack.

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Troops stationed at an ambush position along the Yankwada River line responded immediately after receiving a distress call, pursuing the kidnappers to Garu Village in Katsina. Contact with the fleeing gunmen was later lost along the Katsina–Gidan Mutum Daya road axis, but the operation led to the safe rescue of eight victims, who have now been reunited with their families.

Military authorities confirmed that efforts are ongoing to locate and rescue the remaining two victims still in captivity. Operations in the area continue to prevent further attacks and ensure the safety of local communities.

The rescue operation forms part of a broader counter-kidnapping strategy by the Nigerian military in Kano and neighboring states, aimed at protecting civilians and deterring banditry. Analysts say the swift response demonstrates the effectiveness of intelligence-led operations in combating organized kidnapping networks in northern Nigeria.

Residents have expressed relief and gratitude to the troops, urging continued vigilance and enhanced security measures at public events to prevent similar incidents in the future.

Nigerian Army Rescues Eight Kidnapped Wedding Guests in Kano

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