News
Senate Launches Investigation Into Ponzi Schemes

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.
News
JUST IN: President Tinubu Extends Customs Boss Adeniyi’s Tenure by One Year

President Bola Tinubu has approved a one-year extension for the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi. Originally set to end in August 2025, his tenure will now continue until August 2026.
According to a statement signed by Special Adviser Bayo Onanuga, the extension aims to give Mr. Adeniyi the opportunity to consolidate key reforms and oversee the completion of major initiatives, including the modernisation of Customs operations, the National Single Window Project, and Nigeria’s obligations under the African Continental Free Trade Area (AfCFTA).
President Tinubu commended Adeniyi’s leadership and expressed confidence that the extension would bolster trade facilitation, boost revenue generation, and enhance border security.
Appointed Comptroller-General in October 2023, Adeniyi recently achieved international recognition when he was elected Chairperson of the Council of the World Customs Organization, the highest decision-making body in global customs affairs.
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Kogi Governor Commends President Tinubu over Abuja-Lokoja Road Reconstruction
The Governor also commended the Works Minister, Engr Dave Imahi for the quality of job on the road.

The Governor of Kogi State, His Excellency Alh. Ahmed Usman Ododo has commended President Bola Ahmed Tinubu for showing unparalleled commitment towards the completion of the Abuja-Lokoja road Reconstruction, saying his action has demonstrated his unwavering determination to fix the nation’s infrastructure deficit.
The Governor while inspecting a section of the road at Kotonkarfe in Kogi State said the President represents a “coalition of excellence”.
“This is our own coalition. This is what our President is doing and we are grateful to him. This is development”, he said.
The Governor also commended the Works Minister, Engr Dave Imahi for the quality of job on the road.
News
JUST IN: Oluremi Tinubu Donates 1 Billion naira to victims of Yelwata attack

The Wife of the President Oluremi Remi Tinubu has donated the sum of one billion naira to victims of the horrific Yelwata attack in Benue State.
Oluremi Tinubu who announced the donation during her condolence visit to the state, described the killings as very unnecessary.
About 6 weeks after the heart wretching attack on Yelwata community of Guma local council of Benue State State Wife of the President Oluremi Tinubu visits to pay her condolence.
She proceeds to the new banquet hall of the Government house Makurdi where she meets with relevant stakeholders and makes a significant donation on behalf of council of the renewed hope agenda initiative.
Earlier State Governor Hyacinth Alia while appreciating the show of sympathy by the first family renewed his call for the establishment of State police.
Chairman State Council Of Chiefs the Tor Tiv Orchivirigh James Ayatse wants the killer terrorists flushed out of the State and neighbouring Nassarawa State.
He equally called for compensation for victims to rebuild their lives and return back to their ancestral homes.
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