Outrage over video of police officers collecting cash from Chinese man

A video currently making the rounds on social media has triggered widespread criticism and public outrage, after it showed several Nigerian police officers allegedly receiving N5,000 each from a Chinese man and his family.

In the viral footage, the uniformed officers are seen lining up in an orderly fashion as the Chinese man distributes cash to each of them.

The incident has stirred heated reactions online, with many Nigerians calling it a blatant display of unprofessionalism and a disgrace to the integrity of the Nigeria Police Force.

Human rights activists and anti-corruption advocates have condemned the act, describing it as unethical and damaging to the already fragile reputation of law enforcement in the country.

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When contacted by Vanguard, Force Public Relations Officer, ACP Olumuyiwa Adejobi, said he was unaware of the viral video or the incident.

Similarly, the Lagos State Police Command distanced itself from the footage. Its spokesperson, CSP Benjamin Hundeyin, clarified that the incident did not occur in Lagos, contrary to claims circulating online.

Public figures have also weighed in. Omoyele Sowore, former presidential candidate of the African Action Congress (AAC), described the video as “shameful” and called for the removal of the IGP.

“This is why I keep saying illegal IGP Kayode Egbetokun must leave the police force. It is the shame of the nation,” he wrote in a Facebook post.

Popular social commentator and human rights activist Martins Victor Otse, also known as VeryDarkBlackMan, called the act “disgraceful, disrespectful, and degrading,” urging the police leadership to address the matter transparently.

The incident has intensified calls for accountability, with many Nigerians demanding disciplinary action and systemic reforms to restore public confidence in the police force.

This is the most dizgr@ceful,disrespectful,degr@ding video i have ever seen of our police force,it is not just a slap to the Nigerian police force but also a slap to every Nigerian and Nigeria as a country,I weep for Nigeria,I am calling on the inspector general of police to… pic.twitter.com/ev0y8kSriY

— thatverydarkman (@thatverydarkma1) April 15, 2025

Outrage over video of police officers collecting cash from Chinese man

Nigerians lose N1.3tn as ponzi scheme CBEX collapses

Thousands of Nigerians face financial ruin after the collapse of CBEX, a digital investment platform accused of running a Ponzi scheme that allegedly vanished with over ₦1.3 trillion ($850 million USD). The fallout has sparked widespread distress, with victims sharing devastating stories on social media.

One investor, quoted in a transcribed audio obtained by Daily Sun, described being lured by a friend’s promise of a 100% return on a $100 Bitcoin investment within 35-40 days. Initially wary due to past scams, she was reassured after visiting CBEX’s Egbeda office, where a supposed EFCC certificate suggested legitimacy. “I visited the office only to see even a kind of a certificate from EFCC that they are aware of these people, that they are not scammers and the rest of them. So that convinced me into investing $100,” she said.

Despite her caution, limiting her investment to $100, her funds vanished when withdrawals were halted. “As my investment matured last week Monday, I planned to withdraw it this week. Only for us to wake up yesterday, 14th of April, around 5 p.m., all the money in our account has vanished,” she recounted. Other reports cite losses of up to ₦3 million, with one man allegedly writing a suicide note after investing his home and borrowed funds. The audio claimed, “About three people have been reported dead. So many attempted suicide because of this Ponzi scheme.”

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The scale of the alleged fraud has raised questions about regulatory oversight. The anonymous victim asked, “The question now is to the authorities, where are they, when Nigerians are injecting this kind of money in this kind of investment?” CBEX’s offices in Egbeda and Ikeja added a veneer of credibility.

Financial experts noted the Central Bank of Nigeria (CBN) has long warned against Ponzi schemes promising unrealistic returns. A Lagos-based forex broker, @Obobanj, tweeted, “The Central Bank of Nigeria (CBN) has long warned citizens about the dangers of Ponzi schemes, cautioning against investments that promise unrealistic returns. Despite this, platforms like CBEX continue to attract large followings, often collapsing without warning and leaving chaos in their wake.”

Social media reactions on X range from sympathy to criticism. “Nigerians don’t learn,” tweeted @ricky_chiekezie, reflecting frustration over repeated scams. The victim’s despair was palpable: “God, oh, God, oh, what have I done to deserve this? Huh? What have I gotten myself into? God, please help me. Hey, whoa. CBEX has finally killed me, oh.”

As victims reel, calls grow for authorities to investigate CBEX and hold perpetrators accountable. The forex broker emphasized, “The collapse serves as a reminder of the critical need for financial literacy and vigilance in the face of seemingly lucrative investment opportunities.”

Nigerians lose N1.3tn as ponzi scheme CBEX collapses

Stop promoting risky coins, unlicensed platforms, SEC warns influencers

Following the sudden collapse of CBEX crypto trading platform, the Securities and Exchange Commission (SEC) has warned celebrities and influencers against endorsing or promoting unregistered digital asset platforms and meme coins.

After users lost access to their funds in CBEX, aggrieved ‘investors’ looted the office of Smart Treasure (ST Team), an arm of the cypto trading platform in Ibadan.

It is against this background that Emomotimi Agama, Director-General (DG) of SEC, spoke against the promotion of unregistered digital asset platforms and meme coins by influencers.

Citing the provisions of the Investments and Securities Act 2025 recently signed by President Bola Tinubu, Agama said the act established clear rules and regulations for digital asset platforms, including registration requirements to promote transparency and trust.

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According to him, this allows SEC to crack down on illicit activities, such as ponzi schemes, pump and dump tokens, and unregistered exchanges.

He said, “It is important that even for celebrities, we must be cautious around what we do. Becoming influencers or introducing meme coins that do not mean well for the generality of Nigerians are not going to be tolerated.

“The ISA 2025 is intended to promote FinTech growth and innovation, specifically within the Digital Asset space, while ensuring regulatory compliance.

“However, I want to say this very clearly. If it is not registered, it is illegal. The law will be enforced.”

Stop promoting risky coins, unlicensed platforms, SEC warns influencers