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CAC, EFCC Certificates do not Guarantee Investment Schemes without SEC Registration – Agama

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By Tony Obiechina Abuja

The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama has warned Nigerians to beware of firms that claim that the registration of their companies with the Corporate Affairs Commission and SCUML certificate from the Economic and Financial Crimes Commission have empowered them to operate investment schemes in Nigeria.

Agama stated this during an interview with journalists yesterday at the sidelines of a sensitisation tour against the Ponzi scheme held at the Garki Market in Abuja.
He said it was disheartening that some Nigerians and foreign companies have specialised in defrauding Nigerians through Ponzi Schemes, adding that the government will no longer sit back and watch billions of naira taken away from the people through ponzi schemes.
The SEC DG said it is crucial that Nigerians understand the dangers of putting their hard-earned money into ventures that are not registered or regulated by the SEC.Agama said, “It is disheartening that some Nigerians and foreign accompanies have specialised in duping Nigerians and govt won’t sit and watch Nigerians being duped and this is what SEC is coming out to the people to educate them that if it too good to be true, then watch out.”We have seen many Ponzi schemes in the past, and the Investments and Securities Act had been signed into law by the President and the law recommends N20m fine and 10 years imprisonment for offenders of Ponzi Scheme.”So, that has empowered us to be in a better position to flush out all these fraudulent investment schemes that are damaging our economy”We are using this sensitisation outreach to bring information to our people and that is why we are here and telling them that we are here to assist them to confirm legitimate investment schemes and we are letting them know we feel their pain.”As we are doing this, we have helped to educate them against being duped. CAC registration and EFCC certificate is not enough to show that the company is registered with SEC and these are red flags.”Training programmes being organised by these people to lure people into their schemes are also illegal. Verify before you invest in any scheme, and that is our message to Nigerians.”Also speaking to journalists, the Assistant Director, Enforcement Department, SEC, Tope Onwionoko, said the management of the Commission is very passionate about financial literacy, especially with respect to Ponzi schemes that has become a scourge in the society of late.She said, “So, we want everybody to know about it, from the oldest to the youngest, from the rich to the poor. We want the message to go round the entire Nigeria. And as a start off point, management decided that it’s a good thing to come to the market, because we know the place the people who trade in the market hold in the economy.”So, we feel that we should bring this message to them, hoping that they will understand what to look out for, what the red flags are, and by the time we are done, the people that perpetuate Ponzi in Nigeria, they will carry their bags and leave, because it will no longer be business as usual.”The people who fall victim are usually people who are not knowledgeable about how Ponzi schemes work. So, I think that for most of them, it is a lack of knowledge, essentially.”And of course, we want to believe that economic hardship has a part to play. But more than anything is lack of knowledge. Because even if you are hard up for cash in the economy, and there is an opportunity for you to lose the small that you have, you won’t go there.”So I think it’s because people don’t know what to look out for. They don’t know that somebody is attempting to collect what is in their hand. That’s why they fall victim.”

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Gunmen Kill Civil Defence Officer, Abduct Daughter in Fresh Attack in Kogi

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From Joseph Amedu, Lokoja

Odo-Ere, the headquarters of Yagba West Local Government Area of Kogi State, came under attack from armed bandits, resulting in the death of a Civil Defence officer and the abduction of his daughter.

According to sources, the victim, identified as Ayo, a member of the Nigeria Security and Civil Defence Corps (NSCDC), was shot in the head during the attack.

A source confirmed that Mr. Ayo was rushed to a medical facility but was declared dead on arrival.

His remains have since been deposited in a mortuary as a “Brought-In-Dead” case.

The attackers reportedly abducted his first daughter before fleeing the area, further deepening fears among residents following the latest security breach in the community.

As of the time of filing this report, security agencies have yet to issue an official statement on the incident.

The attack has heightened concerns over the growing insecurity in Yagba West and surrounding communities, with residents calling for urgent intervention by security authorities.

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Sea Drone Rescues US Army Helicopter Crew near Strait of Hormuz

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Two crew members of a US army helicopter that crashed near the Strait of Hormuz on Monday were rescued by an American sea drone, US officials have said.

It was the first such operation carried out by US forces, the officials added.

US Central Command (Centcom) earlier said the two “soldiers were safely rescued within approximately two hours and are in stable condition” after their AH-64 Apache helicopter went down “near the coast of Oman while patrolling regional waters”.

It was not immediately clear whether the aircraft had developed a mechanical or any other technical problem, or had been downed by Iranian fire. The incident is being investigated.

In its statement on Tuesday, Centcom said the two crew members had been rescued at 19:33 EDT (23:33 GMT) on Monday.

“Rescue efforts were led by US Naval Forces Central Command and the 82nd Airborne Division, with support from US Air Force and Navy units including US 5th Fleet’s Task Force 59,” the statement added.

The military officials said the pair had been rescued by an uncrewed surface drone that was operated by Task Force 59.

In 2024, Task Force 59 launched a new unit focusing on “the operational deployment of unmanned systems teamed with manned operators to bolster maritime security across the Middle East region”.

It was not immediately clear what type of drone was used in the rescue operation, but a US official said that it had a speed boat-like design.

US President Donald Trump earlier told reporters the two crew members were “fine”, and that a report into the incident would be issued later.

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Benue Assembly Extends Suspension of Former Speaker, Majority Leader by Three Months

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From Attah Ede, Makurdi

The Benue State House of Assembly has extended the suspension of former Speaker, Aondona Dajoh, and former Majority Leader, Saater Tiseer, by an additional three months pending the determination of separate court cases instituted by the duo against the legislature or the withdrawal of the suits.

‎The resolution was reached during plenary on Tuesday, presided over by the speaker, Berger Alfred Emberga, following a motion of urgent public importance moved by the Majority Leader of the House and member representing Kwande West State Constituency, Thomas Dugeri, and seconded by the Deputy Chief Whip, Simon Gabo, representing Mata State Constituency.

The House subsequently adopted the motion and resolved that the suspension of the two lawmakers should remain in force for another three months pending the outcome of the judicial process or the withdrawal of their respective cases against the Assembly in line with the law governing the institution.

‎Also during Tuesday’s plenary, the Benue State Sports Marketing, Gaming and Lotteries Bill, 2026 scaled through second reading on the floor of the House.

Following its consideration, the Speaker, Alfred Emberga referred the bill to the Joint House Committees on Finance, Youth and Sports for further legislative scrutiny.

‎In his opening remarks marking the commencement of the First Sitting of the Fourth Legislative Session, the Speaker of the Benue State House of Assembly, Emberga welcomed members back from recess and urged them to remain committed to their legislative responsibilities.

He noted that the recess afforded lawmakers the opportunity to engage with their constituents and participate in political activities, including party primaries ahead of the 2027 general elections.

‎The Speaker described the Fourth Legislative Session as a defining phase in the Assembly’s tenure and charged members to focus on issues that directly impact the welfare of the people. He identified security and peace-building, economic resilience, infrastructure development, enhanced revenue generation, effective oversight of Ministries, Departments and Agencies (MDAs), and greater citizen participation in the legislative process as key priorities for the session.

He further urged members to sustain harmonious collaboration with other arms of government while remaining steadfast in making laws that reflect the aspirations and yearnings of the Benue State people.

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