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Despite EFCC probe, CBEX resumes operation, clears old users’ transaction history

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Despite an ongoing investigation by the Economic and Financial Crimes Commission (EFCC), the digital trading platform Crypto Bridge Exchange (CBEX) has resumed operations and begun clearing the transaction histories of its old users.

 

According to new messages shared in the CBEX user group on Thursday and obtained by Tribune Online, the Ponzi scheme, also operating under the corporate identity of ST Technologies International Ltd, Smart Treasure/Super Technology, has assured users of renewed commitment and compensation plans, despite the controversies surrounding its shutdown and fraud allegations.

 

One of the messages reads, “ST has consistently faced various challenges head-on, formulating specific action plans and timelines to mitigate losses for every user. At the same time, new policies have been introduced to swiftly respond to market changes, ensuring the shared goal of mutual benefit for ST, CBEX, and users.”

 

To address the concerns of long-time users affected by the platform’s previous inactivity, the platform stated that it has extended the account verification period until June 25.

 

“For existing users, ST has extended the account verification period for old users until June 25th. This allows those who have not yet raised the necessary funds for verification or have been affected by rumours ample time to receive compensation from the ST fund.”

 

The messages detailed the process of verification and compensation, which, according to the platform, includes depositing $100 for accounts with balances up to $1,000, and $200 for accounts exceeding that amount.

 

“After the recharge is completed, the affected account will receive the corresponding compensation funds within 1 to 24 hours.”

 

The platform added that accounts that complete the process and receive compensation are expected to begin withdrawing 50 per cent of their principal losses after June 25, with a timeline extending to October for full access to funds

 

“Accounts that complete verification and receive compensation from the ST fund by 25th June can withdraw 50% of their principal losses after 25th June. After 25th August: The remaining 50% of the principal losses can be withdrawn. After 25th October: After the 25th of each month, each account can withdraw 30% of its account balance as profit.”

 

A breakdown was also provided to illustrate the recovery process. “For example, if your initial investment is $5,000 and you have not withdrawn any funds since joining the team, you can withdraw 50% of $5,000, which is $2,500, after June 25.”

 

New users who join the platform from April 21 have been promised immediate access to their funds, subject to specific trading volume requirements.

 

“New users who join after April 21 can withdraw their principal and earnings at any time without any restrictions, as long as they meet the required trading volume.”

 

The update also announced the launch of a new sub-account feature and relaxed bonus withdrawal terms.

 

“ST also introduced a sub-account feature, allowing everyone to have 2 accounts for profit after completing verification. Which means you can participate in trade with greater flexibility.

 

“Additionally, any bonuses earned by new members you invite, as well as dividends after upgrading to VIP status, can be quickly withdrawn without the need to meet any trading volume requirements, enabling your efforts to translate into earnings more swiftly.”

 

Further checks by Tribune Online revealed that the platform had also cleared all transactions of its old users, leaving their accounts blank.

 

This development follows a series of public notices issued by the EFCC, declaring several individuals wanted in connection with the CBEX fraud.

 

Tribune Online reports that CBEX, an online investment platform, has been at the centre of a multi-billion-naira fraud scandal for the past few days after disappearing with funds belonging to thousands of Nigerians.

 

The scheme had lured investors with promises of high returns on digital asset trades before going offline without warning.

 

CBEX’s downfall affected a wide range of Nigerians, including popular Ibadan-based Fuji musician Taye Adebisi, popularly known as Taye Currency, who lost N10 million after being introduced to CBEX by close associates.

 

 

-Tribune

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Entertainment

Davido breaks silence after Grammy Award loss

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Five-time Grammy nominee, David Adeleke, popularly known as Davido, has reacted after losing the Best African Music Performance category at the 68th Grammy Awards held in Los Angeles, United States.

 

The Afrobeats star shared a message of faith and resilience following the outcome of the ceremony, which took place on Sunday night at the Crypto.com Arena in California.

In a post on his Instagram page, Davido shared photos with his wife, Chioma, from the event and wrote, “Oluwa Dey my side,” alongside prayer and music emojis.
Hours later, he posted another set of pictures of himself and Chioma at the Grammys, reflecting on the loss in a longer caption.

“I said baby listen we lost again let’s not go ! she said ‘Be humble in victory and gracious in defeat’ we outside,” he wrote.
Chioma also reacted via her Instagram page, praising the singer, “You already know that you’re the perfect one, @davido,” she wrote, while sharing photos from the awards night.
Davido was nominated in the Best African Music Performance category at the 2026 Grammy Awards but lost to South African singer Tyla, who won with her song Push 2 Start.

Other nominees in the category included Burna Boy (Love), Ayra Starr and Wizkid (Gimme Dat), Davido (With You featuring Omah Lay), and Eddy Kenzo and Mehran Matin (Hope & Love).

The win marked Tyla’s second Grammy Award, following her first victory in 2024 for her hit single Water.

Speaking during the awards ceremony, the singer revealed that With You, featuring Omah Lay, almost did not make the final tracklist of his album 5IVE.
“Man, it’s so crazy because that song almost didn’t make the album. With You was not in anybody’s top five.
“And now look at it go. Every time I was performing it, my heart would just start beating like, what if I didn’t put this song?” he told OkayAfrica.

Davido also recounted how he learned about the Grammy nomination, saying the news came unexpectedly while he was in Dubai, days before his birthday.

“I was in the car, actually, checking a car, and then my phone rang. They were like, ‘Oh yeah, another nomination.’ I was like, wow. Thank God,” he said.

“With You” was released in April 2025 as the 17th track on Davido’s fifth studio album, 5IVE, and has since become one of his most successful recent records, surpassing 100 million streams on Spotify.

Despite the song’s success, Nigeria did not record a win at the 2026 Grammy Awards.
Davido said he is now focused on touring and releasing new music.

He is also billed to perform at Coachella 2026, where he will be the only Nigerian artiste on the festival lineup, performing on April 11 and April 18, 2026, in Indio, California.

-Guardian

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Kunle Afolayan gives reasons to marry many women

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Nollywood filmmaker, Kunle Afolayan, has stirred reactions after advising men to “marry many women” while reflecting on his upbringing in a polygamous home.

 

The actor and producer made the remarks at the watch party of Aníkúlápó: The Ghoul Awakens, with a clip from the event going viral on Tuesday.

Speaking at the event, Afolayan linked his existence and achievements to his late father’s decision to marry several wives.

“Without my father, there wouldn’t have been a KAP Village or even Kunle Afolayan. I am the seventh born of my father because my father had ten wives. For the men, marry many women, or rather be involved with many women. You know why? If my father didn’t, he would not have born me, and that is the honest truth. But today, a few of us are lifting his legacy. Life is short, death is constant. Nobody has life forever. Everybody has a period. Use your period,” he said.

While his daughter, Eyiyemi Afolayan, joined him on stage, the filmmaker compared his childhood experience with his relationship with his children.

“They are lucky. For her, staying by my side is luck. Do you know why? I couldn’t stand it with my father. My father didn’t know my school. My father didn’t know my date of birth. He did not know anything about me other than, ‘He is the son of that person.’ But today, I’m so proud of my father,” he added.

Afolayan also spoke about fatherhood.

“Sometimes when people say ‘Happy Father’s Day,’ I’m always saying whether he pays child support or not, he’s still a father. I have been going to court because I want to get a divorce. I don’t mind being in the witness box, and I experienced the shit, so that I can marry many wives,” he said.

He thereafter prayed for his daughter, praising her role in the series.

“Hephzibah, her mother is the one who gave her the name. I don’t care, but I am proud of you. You started with the film, you did the first season, and now with the second season, you did amazingly well. My good Lord will continue to increase you in wisdom, in knowledge, and in understanding. If this is your path, the good Lord will see you through.”
However, this is not the first time the filmmaker has spoken about his late father’s polygamous lifestyle.

In March 2021, Afolayan told BBC Pidgin that his father, Adeyemi Afolayan, who died in 1996, married 10 wives and had 25 children, a decision he said took a toll on the family.

“I would not want to marry many wives because my father had 10 wives and I knew what happened throughout that period. I knew that really distracted my father. In this age, nobody needs to tell you before you know what’s right,” he said at the time.

He also disclosed that growing up in a polygamous home affected bonding among the children due to language and other barriers.

Afolayan further narrated how he battled poverty in his early years, revealing that he once lived in a one-room apartment in Ebute-Metta and sometimes had to deal with flooding.

“I was born in Ebute-Metta and have lived in one-room apartment before that we even have to grapple with flood sometimes. It’s not shame to say have been poor before. But if you see how l made it, it’s a matter of consistency. My father was a very popular filmmaker and ordinarily, people would expect me to life the kind of live akin to Hollywood stars,” he said.

“But that wasn’t the case. How would one live such life when you’re living in a room with ten women. That doesn’t mean there was no love among us.”

He had advised young filmmakers to start with the little resources available to them while working towards their dreams.

 

-Guardian

 

 

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Court adjourns Ganduje’s corruption trial to April 15

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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

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