Crime
SEC Raises Alarm Over AI-Powered Fraudulent Investment Platforms
The Securities and Exchange Commission (SEC) has expressed concern over the increasing use of artificial intelligence in fraudulent investment schemes targeting Nigerians.
In a statement issued on Sunday, the Commission identified several unregistered online operators, including CBEX, Silverkuun and TOFRO, which have been advertising AI-based trading systems that promise extraordinary profits.
According to SEC, fraudsters behind these platforms are employing AI tools such as deepfake technology to create fake endorsements featuring well-known politicians, celebrities, and media personalities.
READ ALSO: $1bn Crypto Fraud: Court Authorizes EFCC To Arrest Six CBEX Promoters
These manipulated clips, the regulator explained, are being spread widely on Facebook, Instagram, and Telegram to mislead unsuspecting investors.
“Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine. This has made traditional fraud detection methods less effective, hence the need for tech-enabled regulation and greater public awareness,” SEC warned.
The Commission noted that it is deploying new real-time surveillance technology to track suspicious activities and is strengthening collaboration with the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) to improve information sharing and coordinated enforcement.
“We are moving from reactive to predictive oversight. This is essential in combating fraud and systemic risks in our market,” the Commission stressed.
As part of its measures, the SEC said it has also opened discussions with social media companies to eliminate misleading investment ads and has cautioned content creators not to promote illegal financial products.
“Any influencer or blogger found to be complicit in promoting illegal platforms will face regulatory sanctions or even prosecution,” the regulator added.
The SEC urged the public to be extra vigilant when considering investments, particularly those that guarantee risk-free daily returns or claim to have the backing of popular figures.
The Commission further advised citizens to always check its official website to confirm whether an investment company is duly licensed.
It reminded Nigerians of the CBEX collapse in April 2025, which left more than 600,000 people counting losses of about N1.3 trillion.
The promoters of the platform operated under ST Technologies International Limited, which was registered with the Corporate Affairs Commission in September 2024.
The Economic and Financial Crimes Commission (EFCC) is still carrying out investigations into the scandal.
“Any investment that guarantees unrealistic returns or uses manipulated videos of public figures should immediately raise a red flag,” SEC maintained, urging Nigerians to avoid platforms that operate solely on Telegram or WhatsApp without a physical address.
Crime
DSS Arraigns Five for Allegedly Hiding Wanted Ex-Gov Timipre Sylva
The Department of State Services (DSS) has arraigned five men before the Federal High Court in Abuja for allegedly concealing the whereabouts of former Bayelsa State Governor, Timipre Sylva, who has been declared wanted over his alleged involvement in a coup plot.
The defendants—Reuben Ayuba, Musa Mohammed, Friday Paul, Paganengigha Anagaha and Ayebaifie Suobite—were brought before Justice Peter Lifu on a two-count charge of allegedly becoming accessories after the fact by hiding the whereabouts of the former governor.
SEE ALSO: DSS Foils Arms Smuggling Operation, Arrests Suspect Linked to Zamfara Bandit Leader
According to the prosecution, the accused allegedly concealed Sylva’s location on or about April 28, 2026, after he was implicated as a financier of an alleged plot to overthrow the administration of President Bola Tinubu.
Sylva, who also served as Minister of State for Petroleum Resources under former President Muhammadu Buhari, was said to have fled the country before details of the alleged coup plot became public.
The Federal Government subsequently declared him wanted and reportedly commenced moves to confiscate some of his identified properties.
When the charges were read in court, the five defendants pleaded not guilty.
Following their plea, prosecution counsel Emmanuel Orubor urged the court to remand the defendants and fix a date for trial, stating that the prosecution was prepared to call witnesses to prove its case.
However, defence lawyers representing the defendants applied for bail, arguing that their clients had been in DSS custody since October 25, 2025, and deserved to be released on liberal terms pending trial.
In his ruling, Justice Lifu held that the charges were bailable and granted each defendant bail in the sum of N5 million, with two sureties in like sum.
The court ordered that each surety must provide an affidavit of means, evidence of three years’ tax payment, proof of visible means of livelihood, and recent passport photographs.
The identities of the sureties are also to be verified by the court’s Registrar.
Pending the fulfilment of the bail conditions, the defendants were ordered to be remanded at the Kuje Correctional Centre.
The case was adjourned until July 22, 2026, for the commencement of trial.
The charges allege that the defendants knowingly concealed the whereabouts of Sylva, described by the prosecution as a fugitive, in violation of Section 519 of the Criminal Code Act.
Crime
Amotekun Arrests Father, Three Sons for Alleged Kidnapping in Ondo
The Ondo State Security Network Agency, codenamed Amotekun, has arrested a 56-year-old man, Iliasu, alongside his three sons over their alleged involvement in a kidnapping operation in Oba-Akoko, Akoko South-West Local Government Area of the state.
The suspects, identified as Usman (33), Wahab (27), and Yakubu (18), were paraded in Akure alongside 24 other suspects arrested for various offences by the state security outfit.
Speaking during the parade, the Commander of Amotekun in Ondo State, Akogun Adetunji Adeleye, disclosed that the victim, Oyebade Samuel, was abducted while travelling to Oba-Akoko after his vehicle developed a mechanical fault along the road.
SEE ALSO: Army Rescues Five Kidnap Victims as Terrorists Flee Kogi Forest Hideouts
According to Adeleye, four armed men emerged from the bush carrying guns, cutlasses, and sticks before attacking and dragging the victim into the forest.
The kidnappers initially demanded a ₦40 million ransom but later reduced it to ₦1.6 million, which the victim’s family paid.
Despite receiving the money, the suspects allegedly refused to release the victim and warned the family against involving security agencies.
Following the suspects’ failure to honour the agreement, the family contacted Amotekun, prompting an intelligence-led operation that traced the kidnappers to a family of four who allegedly disguised themselves as cattle rearers while operating a kidnapping syndicate.
Adeleye said the suspects resisted arrest and attacked Amotekun operatives during the rescue mission but were eventually overpowered.
The victim was rescued with multiple machete and knife injuries sustained during captivity and was immediately taken to the hospital for treatment.
The Amotekun commander further revealed that more than 75 per cent of the ₦1.6 million ransom was recovered, alongside alcoholic drinks, drugs, cigarettes, and other items allegedly linked to the suspects.
He added that one of the suspects, believed to be the gang leader, had been on Amotekun’s watchlist since 2024 over several kidnapping incidents in the Ondo North Senatorial District but had fled the state before recently returning to allegedly mastermind the latest abduction.
Adeleye reiterated that the security outfit discourages the payment of ransom, assuring that all recovered money would be returned to the victim’s family.
“There is no hiding place for criminals in Ondo State, whether in the forests or within our communities. We remain committed to protecting lives and property,” he said.
Crime
Police Nab 21-Year-Old With Suspected Human Hand, Guns in Lagos
Operatives of the Lagos State Police Command have arrested a 21-year-old man, Samson Onilewaji, after allegedly discovering a suspected human hand, firearms and other items believed to be linked to criminal activities during a routine stop-and-search operation along the Lekki-Epe Expressway.
The arrest was confirmed on Friday by the command’s spokesperson, CSP Abimbola Adebisi, who disclosed that the suspect was travelling in an unregistered commercial shuttle bus alongside five other passengers when police officers intercepted the vehicle for inspection.
ALSO READ: BREAKING: Tinubu Sends State Police Bill to Senate as Nigeria Moves to Overhaul Security System
According to Adebisi, a thorough search of the vehicle and its occupants led to the recovery of a suspected human right hand, two locally made pistols, one live cartridge, two axes, a Point of Sale (POS) terminal and five ATM cards from the suspect.
She further revealed that preliminary investigations showed the suspect allegedly confessed to recently robbing three people of their valuables, including the POS machine and ATM cards recovered from him.
The police spokesperson said investigators are working to determine the identity of the owner of the suspected human hand, how it came into the suspect’s possession and what it was allegedly intended to be used for.
She added that efforts are ongoing to track down other suspected members of the criminal network believed to be connected to the suspect.
Adebisi stated that the suspect would be arraigned in court after investigations are concluded.
She also quoted the Commissioner of Police in Lagos State, CP Tijani Olaiwola Fatai, as reassuring residents of the command’s commitment to tackling violent crimes and ensuring the safety of lives and property across the state.
The police commissioner urged members of the public to remain vigilant and continue providing useful and timely information that could assist security agencies in preventing crime and bringing criminals to justice.






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