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Senate Launches Investigation Into Ponzi Schemes

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The Senate has mandated a joint committee to investigate the alarming rise of Ponzi schemes across the country, following the collapse of the Crypto Bullion Exchange (CBEX), which has reportedly defrauded investors of over ₦1.3 trillion.

The decision followed a motion sponsored by Senator Adetokunbo Abiru (Lagos East).

In a motion, the lawmaker expressed deep concern over the unchecked spread of fraudulent investment schemes, including the infamous MMM Nigeria (2016), MBA Forex (2020), and most recently CBEX, which lured millions of Nigerians with promises of high returns on digital assets.

Lawmakers in a debate warned that CBEX’s collapse had devastating financial and psychological consequences, pushing victims into depression, family breakdowns, and in some tragic cases, suicide.

The Senate expressed shock that CBEX operated unchecked for months despite its large-scale activities and online visibility, with no timely intervention from regulatory agencies such as the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), the Nigerian Financial Intelligence Unit (NFIU) or the Economic and Financial Crimes Commission (EFCC).

The joint committee is expected to hold a public hearing in the coming weeks and submit its findings within one month.

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Terrorism: Ansaru commander Jailed 15 years

Justice Emeka Nwite handed down the sentence but ordered that the defendant remain in DSS custody pending his trial for 31 other terrorism-related charges.

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A Federal High Court in Abuja on Thursday sentenced a senior commander of the proscribed terror group Ansaru, Mahmud Usman, to 15 years in prison.

He pleaded guilty for involvement in illegal mining to finance arms procurement for terrorism and kidnappings.

The Department of State Services (DSS) arraigned Usman, who admitted that proceeds from the illicit mining supported his terrorist activities.

Justice Emeka Nwite handed down the sentence but ordered that the defendant remain in DSS custody pending his trial for 31 other terrorism-related charges.

In the Court’s filings, Usman and his associate, Abubakar Abba, were accused to have launched a deadly attack on the Nigerian Army’s Wawa Cantonment in Niger State in 2022, which resulted in mass casualties.

The charges also alleged that both men received training in weapons handling, bomb-making and guerrilla tactics from camps in Nigeria and Mali.

The DSS further claims that the two commanders masterminded the July 2022 raid on Kuje prison near Abuja, which freed more than 600 inmates, including hardened extremists.

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Delta bans workers from wearing bushy beards, artificial hair, others

In the the circular, male civil servants are no longer allowed to grow bushy beards or wear certain traditional caps such as the “Resource Control” or “Papas” caps. Female staff are now prohibited from coming to work with artificial braided or dyed (tainted) hair, long eyelashes, and fake nails.

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• Delta Governor, Rt Hon Sheriff Oborevwori/ Government House photo

The Delta State Government has issued a new directive banning bushy beards, artificial braided or tainted hair, long eyelashes, fake nails, and other forms of what it calls “indecent appearance” among public servants.

The ban was announced in a circular issued by the Office of the Head of Service, which stated that all public servants must now appear in neat, professional, and modest attire that reflects their level in the civil service.

In the the circular, male civil servants are no longer allowed to grow bushy beards or wear certain traditional caps such as the “Resource Control” or “Papas” caps. Female staff are now prohibited from coming to work with artificial braided or dyed (tainted) hair, long eyelashes, and fake nails.

The directive also provides updated dress code standards. Senior officers are expected to wear full corporate suits, while junior officers must dress in trousers with shirts and ties.

Traditional attire is permitted only on Fridays or for special events and must be clean, decent, and modest.

For female public servants, acceptable clothing includes trouser suits, skirt suits, or corporate gowns that fall below the knee and have sleeves. Sleeveless outfits, spaghetti straps, revealing clothing, and any dress that exposes cleavage are strictly banned.

(The Guardian)

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Umahi : FG embarking on underwater tunnel to connect Lagos-Calabar, Sokoto-Badagry highways

” Our tunnel is inside the ground. It’s going to be 2.9 kilometres. When done, it’s going to be the first tunnel in Africa inside water,” Umahi said

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The Federal Government has announced plans to construct an underwater tunnel to connect the ongoing Lagos-Calabar and Sokoto-Badagry highways.

During an inspection tour in Lagos on Wednesday, David Umahi, the minister of works, said the tunnel will run for 2.9 kilometres, connecting Ahmadu Bello Way to Snake Island and extending to Badagry.“

“Our tunnel is inside the ground. It’s going to be 2.9 kilometres. When done, it’s going to be the first tunnel in Africa inside water,” Umahi said.

The minister explained that the project would be executed under a Public-Private Partnership (PPP) arrangement, using land resources around Snake Island and Badagry to fund the initiative.

“Before people start shouting, oh, you want to borrow, we have land at Snake Island and by Badagry. We hope to use this land under PPP to fund the project, under Build, Operate, and Transfer,” he stated.

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