Article
Ponzi Scheme CEO Francis Uju Udoms of Addfx Case still Unresolved Despite SEC certification
Adoms Uju Francis founded a Forex trading company in November 2018 called Addfx which was later changed to Addy Finance and Investment Limited upon registration with SEC.
This company offered many Nigerians with crafty investment opportunity with an ulterior motive of attractive Return on Investment (ROI) which investment tenor of 6 and 12 months with interest rates between 13 to 25 percent monthly.
Adoms Uju Francis and his management flamboyant life styles on social media was worrisome. A lot of unprofessional practices characterized the company activities as most employees were friends and relatives of the MD. In fact, the MD’s former Bolt driver later became the Executive Director. Billions of naira of innocent people was in the hands of unqualified people. This shows the decadent of this sad scam.
The investment scheme of receiving funds from investors and payment of ROIs started in year 2019 and the company continued to pay monthly ROI into year 2021 with number of investors on all time high and funds running into billions.

The issues started with series of notifications to investors; Firstly was that in order to abide with the regulatory body, registration with SEC will help foster stability for the company. At this point, this seems like a welcomed development and embraced by innocent investors. Not too long after the first notification, payment of matured investments wasn’t received while some were delayed. This raised serious eyebrow by Nigeria especially people who had plans already in place for expected funds. Another circulation was sent to investors and this time, news that Addy Finance and Investment Limited account has been put on PND (lien) by the regulatory body. Investors were thrown into awe filled with rage and regrets. Some investors collected money from colleagues in office and invested in bulk. Some borrowed monies to take advantage of this seemingly investment opportunity. Some others invested school fees, rent or even thrifts. Frustrated investors stormed the company offices only to meet empty work space with security on guard. Billions of naira of investors’ money was trapped as the company could no longer keep up with the payment promised and as stated on Investment certificates issued.

Many lamented how could SEC keep quiet and didn’t react to this registered Ponzi Scheme. There should have been board of trustees and confirmed means of identification during registration of the company. A due diligence was meant to have been carried out before issuance of certificate.
Grapevine making the rounds was that aside the lapses in the system and structure of the company for its failure, SEC is also to be blamed for not spotting the obvious red flags. SEC allegedly didn’t checked Addy Finance and Investment Limited account thoroughly, they would have reconciled and notice that something wasn’t right such as that the money used to diversify into other businesses was not coming from the profit the company was making. Investors’ funds were used to diversify into projects like real estate knowing fully well that real estate in Nigeria takes a while to be profitable. Investing in real estate which takes longer time in reality to materialize, while you have to pay investors average of 20% monthly ROI makes a mirage to achieve.
An unconfirmed informant told onspotnews that Francis Uju Adoms ran away with at least 80 billions naira which were funds from investors disguised as a credible investment company not knowing it is a Ponzi Scheme.
The fact that the company Addy Finance and Investment Limited was registered with Securities and Exchange Commission, Nigeria, created confidence and trust in the authenticity of the company by most investors.
Upon confirmation of payment of investment, an investment certificate is issue by the company to investors for their archive and reference.

On June 28 2021, a group of aggrieved investors petitioned the Nigeria Police and subsequently, the International Criminal Police Organisation (Interpol) got an arrest warrant from a high court in Lagos and declared Adoms wanted. A notice from Interpol stated that Adoms had obtained a total of N52 million and $28,000 from unsuspecting investors under false pretence, using Addy Finance and Investment Limited. This petition is arguably just from one person out of thousands of people affected by the scam.
Many Nigerians are left in total darkness as to the outcome of the investigation since a petition has been submitted. Rumour has it that Francis Uju Adoms settled big ranks in the Nigerian police reason why the case has been swept under the carpet.
Presently, he has gone into hiding. No one even knows whether he is still in the country or not, and there hasn’t been any communication with aggrieved investors since 2021. The company offices in Egbeda (24 Idimu Road Egbeda Junction) alimosho L.G.A of Lagos state and on the Island (Block25, Plot8, Chief Collins Uchidiuno Street, Lekki Phase One, Lagos) have been shutdown together with other branches outside Lagos. Customer hotlines have been disabled and Francis personal numbers are all switched off. No response from the company email [email protected] also.

Since 2021, greater percentage of people affected by this supposedly Ponzi Scheme are yet to recover from their losses coupled with recent economic hardship under current political administration. Some have lost their jobs, lives and hope consequently. Onspotnews hereby appeal to Director General of the Securities and Exchange Commission, Dr Emomotimi Agama and Inspector General of Police Kayode Egbetokun to please look into this case and help recover the funds of innocent Nigerians affected by this Company as all efforts to recover has proved abortive.
-onspotnews
Article
Court adjourns Ganduje’s corruption trial to April 15
A Kano State High Court has adjourned until April 15 the trial of former governor Abdullahi Ganduje, his wife, Hafsat Umar, and son, Abdullahi Umar, alongside five other defendants, over alleged misappropriation of public funds amounting to billions of naira.
The defendants are facing an 11-count charge bordering on bribery, conspiracy, misappropriation, and diversion of public funds. The remaining accused persons are Abubakar Bawuro, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lasage General Enterprises Ltd.
At the resumed hearing, the prosecution told the court it was ready to proceed and drew attention to a motion dated November 24, 2025, seeking leave to file additional proof of evidence.
However, defence lawyers raised objections, informing the court that multiple applications were pending and must be resolved before the trial could continue.
Lydia Oluwakemi-Oyewo, counsel to some of the defendants, said the defence had filed a motion dated July 17, 2025, seeking a stay of proceedings.
Adekunle Taiye-Falola, representing the third and seventh defendants, also referred to a separate motion dated May 23, 2025.
In addition, Muhammad Shehu, counsel to the fifth defendant, told the court that an affidavit had been filed notifying it of a pending application for stay of proceedings before the Court of Appeal.
Abubakar Ahmad, counsel to the sixth defendant, informed the court that he had filed a notice of preliminary objection and an application for extension of time to respond on points of law dated February 2, urging the court to fix a date for hearing.
Only Faruk Asekome, counsel to the eighth defendant, indicated readiness to proceed with the trial.
After hearing arguments from both sides, the presiding judge, Justice Amina Adamu-Aliyu, adjourned the matter to April 15 for the hearing of all pending applications and preliminary objections.
The trial has suffered repeated delays due to legal challenges. The high court had earlier dismissed preliminary objections raised by the defence as “incompetent” and affirmed its jurisdiction to hear the case.
That ruling was appealed by the defendants, who argued that the trial court lacked jurisdiction. However, in October 2025, the Kano Division of the Court of Appeal struck out the appeal, citing failure to properly transmit the record of appeal.
-Guardian
Article
No scripture forbids tattoos – Pastor Kingsley Okafor
Founder of the David Christian Centre and popular relationship coach, Pastor Kingsley Okonkwo, has doubled down on his decision to get a tattoo, saying there is no scripture that says a child of God cannot have a tattoo.
The cleric’s decision to get a tattoo reading “3:16” in Roman numerals, a reference to John 3:16 in the Bible, sparked controversy on social media.
His action was condemned by netizens who cited Leviticus 19:28, a Bible passage that reads, “Ye shall not make any cuttings in your flesh for the dead, nor print any marks upon you: I am the Lord.”
Dismissing the argument against his decision, Pastor Okonkwo said in an interview, “There’s no scripture that says a child of God cannot have tattoo. So, people are (just) doing personal preference, or what the Holy Spirit told them, or their church’s preferences. They want to impose this on other people, and that’s not how this works. Everyone needs to know Christ and the word of God.
“Somebody needs to sit me down and say tattoos are bad because if somebody draws ink on their body, their brain goes bad; if somebody draws ink on their body, their character suddenly goes bad. They must give me scriptural or scientific proof, or something to back this up.”
“Nobody can tell me why tattoo is bad. It’s just bad because… no reason. This kind of thinking is saddening for me because how is Africa going to catch up with development if we are still thinking ‘oh, somebody wore jeans and went to rob, so jeans are now bad. Pastor cannot wear jeans because last week somebody wore jeans and went to rob a bank’. What are we talking about? So, I don’t see the basis.”
Eyebrows are tattoos, my critics do them – Kingsley Okonkwo
Further, Okonkwo stated that while tattoos may be associated with bad people, he could name 10 good people with tattoos.
“It’s the same reason why some people don’t want to go into politics. They say politics is for bad people. So, we have left it for the people we think are dirty. So, who is going to go there? That has been the mindset of the church. We avoid everything that looks bad, and then we complain,” he said.
In a TikTok video, Okonkwo descended on critics of his decision, reminding them of the questionable things they also do.
He said, “Today I’m seeing Christian girls buying human hair and wearing it to church, and they are typing on tattoo while wearing another human being’s hair.
“You don’t know the origin of Christianity in Nigeria. Go and ask the older people who are sincere, they will tell you that even your makeup was a sin just a few years ago… was sacrilege, taboo, evil.
“Today, I see people do eyebrow. You don’t know that eyebrow is tattoo? Are you not painting? If you are painting eyebrows, it is tattoo. Some people even do microblading. Is it not tattoo? It’s a form of tattoo.
“Do you know that there was a time, if you didn’t tie a scarf, you couldn’t go to church. Some of you didn’t know this. Who fought for that liberty you enjoy?
“There were times you couldn’t wear earrings, such that once you gave your life to Jesus, you threw away your earrings and all your jewellery. Some of you didn’t know these things, but today you are typing. I pity the level of ignorance you are carrying,
“There were times you couldn’t wear jeans in this body of Christ. I was here when you couldn’t wear jeans. Do you wear jeans? Oh, you are leading many astray.
“Some people are saying tattoo is leading people astray. I say jeans were leading people astray a few years ago, today we are wearing them. Do you wear jeans? Ungodly garment.”
Those who cut themselves are demon-possessed
In an old sermon sighted by our correspondent, Pastor Steven Anderson of Faithful Works Baptist Church in Arizona, USA. stated that tattoos, which involve cutting oneself, are similar to what demon-possessed people did in the Bible.
“Everybody who cuts themselves in the Bible is demon-possessed. And today, we see high schoolers by the thousands and millions cutting themselves,” Pastor Anderson said.
He then addressed those who love to claim that the law against tattoos is in the Old Testament and is no longer relevant. He did this by citing the next verse after the one against tattoos in Leviticus, which reads, “Do not prostitute thy daughter, to cause her to be a whore; lest the land fall to whoredom, and the land become full of wickedness.”
According to him, if their understanding is relevant, it means people can now go ahead and prostitute their daughters.
Our correspondent also found a YouTube sermon by Pastor Aaron Thompson explaining why tattoos are bad.
During a sermon at Strong Tower Baptist Church in the US, he said, “Tattoo is a heathen practice that has been going on since Noah got off the ark, basically. They’ve found mummies and people in ice in different places that had tattoos on them. People have been doing this heathen practice for a long time. It’s connected to religion; it’s connected to cannibalism; it’s connected to head hunting. There’s nothing good about tattoos.”
-Guardian
Article
Group Defends Tinubu’s Reforms
The Legacy Support Group for Asiwaju Bola Ahmed Tinubu’s Renewed Hope Agenda has reaffirmed its backing for the Federal Government’s reform policies, declaring support for what it described as a long-term recovery framework aimed at building a more stable and prosperous Nigeria.
Speaking at a press conference, the group’s National Patron, Chief Mike Okiro, represented by Chief Marcel Ezenwa, said the coalition was committed to “joining the train of Renewed Hope” as a pathway to a better tomorrow. He conveyed Okiro’s full support for President Bola Ahmed Tinubu, noting that the administration’s reform direction is designed to reposition the country for sustainable growth and institutional stability.
Also addressing journalists, the group’s National Coordinator, Ezinna Chief Chima C. Duru, said the briefing was convened to respond to what he described as sustained negative narratives and political attacks against the Tinubu administration by opposition figures and “disgruntled political actors.”
He noted that while criticism is a legitimate feature of democracy, it must be constructive and fact-based, warning that politically driven misinformation could undermine necessary reforms.
On security, the group said terrorism and banditry predate the present administration but maintained that ongoing operational and structural reforms are producing gradual results.
It also highlighted youth and education interventions, including student loan schemes and empowerment programmes, as indicators of a governance focus on human capital development, stressing that economic recovery should be judged over a longer reform cycle with sustained policy continuity.
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