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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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Eko Electricity blames Lekki-Ajah power outages on feeders disruption

The following feeders are currently out of supply: Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1, Eleko,” the company said.

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Eko Electricity Distribution Plc (EKEDP) has announced a power outage across parts of Lagos, including Lekki, Ajah and Ibeju-Lekki, following a loss of supply affecting 12 feeders.

The affected feeders are Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1 and Eleko.

In a notice to customers, EKEDP said the VGC, Oke-Ira and Agungi injection substations were also affected by the disruption.

The distribution company attributed the outage to a fault affecting electricity supply within the Lekki, Ajah and Ibeju-Lekki axis.

The following feeders are currently out of supply: Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1, Eleko,” the company said.

EKEDP said it was working with the Transmission Company of Nigeria (TCN) to restore the affected transformer and reconnect all the impacted feeders.

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IGP Disu Launches Nigeria Police Force Vigilant App, for Tracking Crimes

” The police cannot be everywhere at the same time, but through technology and partnership with the citizens, we can significantly expand our capability to prevent and respond to crimes,” he noted.

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The Inspector-General of Police, IGP Olatunji Disu, has launched the Nigeria Police Force Vigilant App as part of efforts to strengthen public engagement, internal communication and the fight against increasingly sophisticated crimes.

Disu also unveiled MTN Closed User Group (CUG) Network for strengthening communication among police commands, formations, divisions and specialised units nationwide.

Speaking during the launch ceremony in Abuja, IGP Disu said that the changing nature of crime and the speed at which information travels have made it necessary for the police to embrace technology.

The policing environment is changing rapidly. Crime is becoming more sophisticated. Information moves faster, and citizens increasingly expect public institutions to be accessible and respond to technology,”said Disu.

He explained that the Vigilant App was designed to improve communication between the police and members of the public by enhancing information sharing and citizen engagement.

The IGP urged Nigerians to use the platform responsibly to report suspicious activities, provide useful information and seek assistance when necessary .

Disu also charged officers managing the platform to operate with professionalism and integrity, stressing that information received through the system must be handled responsibly, investigated diligently and protected appropriately.

The police cannot be everywhere at the same time, but through technology and partnership with the citizens, we can significantly expand our capability to prevent and respond to crimes,” he noted.

Disu observed that effective communication often determines the success of operations, emergency responses and investigations.

“In policing, information delayed can be information lost,” the IGP declared.

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Edo Influential Politician, Daniel Orbih, dies at 64 •Obaseki mourns

Obaseki said Orbih’s contributions to Nigerian politics and the PDP remained significant, particularly during his years of service in Edo.

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•Chief Daniel Osi Orbih

Chief Daniel Osi Orbih, a chieftain of the Peoples Democratic Party (PDP) is dead, aged 64.

Orbih, known by his traditional title, the Kulukulu 1 of Ogoni Land and Oduma of Uzairue, reportedly died on Monday, 31st August 2026.

His death was confirmed in a statement issued by his family and signed by Francis Udukhomoi Orbih, Esq., on behalf of the Orbih family.

Orbih was born on the 27th of October, 1961, to Chief and Mrs M.C.K. Orbih of Ogbona in Etsako Central Local Government.

He ventured into politics in 1999, and was the deputy governorship candidate of the All Peoples Party (APP) in Edo State, describing Orbih as a prominent figure and influential voice in Edo politics.

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Former governor of Edo, Godwin Obaseki, lamented that Orbih ‘s death represents a significant loss to Edo.

Obaseki said Orbih’s contributions to Nigerian politics and the PDP remained significant, particularly during his years of service in Edo.

“For many years, he provided leadership to the Peoples’ Democratic Party (PDP) in Edo State as its State Chairman and subsequently served as the PDP National Vice Chairman, South-South.

“Through these roles, he contributed significantly to the development of the party in the Edo State and Nigeria, ” he said.

He emphasised that the former PDP chairman’s death represented a significant loss to Edo State and Nigeria, while commiserating with his family, friends and political associates.

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