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CBEX reportedly resumes operations despite N1.2tn EFCC probe

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CBEX

Embattled Crypto Bridge Exchange trading platform,  CBEX, has resumed operations, announcing fresh withdrawal options in a move to restore investor confidence despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians.

According to Punch, two traders on the CBEX platform confirmed that the digital trading firm has quietly resumed operations, allowing new users to register, trade, and withdraw profits, despite ongoing investigations by regulatory agencies.

According to the sources, an insurance verification process and an external audit of the company’s financial records are underway to ascertain the amount lost in the scheme, which collapsed in April.

They added that existing investors, many of whom have been unable to access their funds for weeks, will be able to take out their funds starting from June 25, 2025, when the audit is expected to be concluded by an insurance firm based in the United Kingdom.

 

This development comes barely weeks after the Securities and Exchange Commission declared the platform illegal, and the Economic and Financial Crimes Commission confirmed an ongoing investigation into the firm’s operations.

 

CBEX, a digital investment platform, offered investors 100 percent profit after 30 days of purported AI trading. The trading platform started operations in 2024 after receiving registration approval from the Corporate Affairs Commission on September 25, 2024, and the EFCC’s Special Control Unit Against Money Laundering on January 16, 2025.

No fewer than 600,000 Nigerians reportedly invested in the scheme and lost N1.2 trillion after it collapsed on April 14, 2025.

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YouTube to cut monetization for low-effort and A.I. content from July 15.

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From July 15, 2025, YouTube will implement a new set of rules in its monetization policies within the YouTube Partner Program (YPP), focused on eliminating repetitive, automated, and low-value content.

According to the official announcement, YouTube will update its monetization policies specifically to address two types of content considered “inauthentic”.

The first type is “mass-produced content”.

According to the announcement, this includes “videos created in bulk with minimal human input, such as automated presentations with synthetic voices and no personalized narrative.”

Another type of content that will be cut are “repetitive content. This includes “videos that reuse formats, scripts, or styles without offering distinctive value, such as reaction mashups, remixes of existing content, or compilations with minimal editing.”

This type of content, while it may have previously met technical requirements, will now be demonetized for lacking originality and real value for viewers.

According to the announcement, all videos that fall into the following categories will be excluded from monetization:

“Reuse third-party material without significant transformation.

“Use auto-generated voices or subtitles without adding commentary or original context.

“Publish the same type of video repeatedly without variation or innovation.

“Be superficially edited to appear new (e.g., changing colors, cropping scenes, or applying filters without adding value).
Channels that continue using these practices risk being removed from the YouTube Partner Program.”

YouTube will reward monetization only to creators producing original and authentic content, including:

“Educational videos with unique explanations, research, or tutorials that teach something new.

“Innovative entertainment content, such as original sketches, short films, vlogs, or creative analysis.

“Narration and editing with the creator’s own voice and style, avoiding exclusive reliance on artificial narrators or automated tools.”

The platform clarified that AI is not prohibited, as long as the creator adds meaningful human value…

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IMO STATE LAUNCHES DIGITAL LAND INFORMATION CENTER, UNLOCKING NEW ERA FOR PROPERTY MANAGEMENT AND INVESTMENT

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Imo State has taken a major leap in land administration with the unveiling of the Imo Land Information Service Centre (IMLISC), a modern, technology-driven facility established under the leadership of Governor Hope Uzodimma. Located within the Ministry of Lands, Survey and Physical Planning in Owerri, this state-of-the-art centre is set to transform land governance, boost investor confidence, and protect citizens from fraudulent land dealings.

The IMLISC introduces a fully digital system that streamlines land transactions and offers services such as e-land searches, land recertification, issuance of Certificates of Occupancy (C of O), and ownership transfers. These automated processes ensure faster, more transparent, and accountable land administration, marking a clear departure from outdated, manual methods.

Governor Uzodimma’s administration has championed this initiative as part of its broader commitment to innovative governance and economic reform. The centre provides Imo citizens with secure access to land-related data, shielding them from scams and ensuring legitimacy in property transactions. It builds trust and simplifies land ownership—making it both secure and straightforward.

For the business community, IMLISC is a game-changer. Entrepreneurs and real estate developers now have access to clear documentation, reliable data, and efficient processing—eliminating bottlenecks that previously hampered progress. The result is a more attractive business climate that welcomes both local and diaspora investors with open arms.

Moreover, the new system is expected to enhance internally generated revenue (IGR). With better documentation and fewer disputes, land transactions will be more organized and traceable, increasing state earnings from legitimate dealings. These funds can then be reinvested into critical sectors like infrastructure, healthcare, and education—ultimately benefiting every Imo resident.

The centre will also serve as a hub for land dispute resolution, offering timely and fair intervention mechanisms. Through data-driven decision-making, it will support sustainable urban planning and responsible land use policies across the state.

Governor Uzodimma’s foresight in establishing the IMLISC is a testament to his commitment to good governance, transparency, and economic growth. The centre is not just a building—it is a symbol of Imo State’s readiness for progress, a safeguard for property rights, and a magnet for investment.

With this initiative, Imo is setting a new benchmark in land administration—one that empowers citizens, supports business growth, attracts global investors, and drives development for the future.

#HopeNewAndElectronicMediaCenter

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French Tesla customers sue over brand becoming ‘extreme right’

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Tesla sales in the EU have nearly halved, with many customers looking for electric cars put off by Elon Musk's political positions. Photo: JULIEN DE ROSA / AFP/File Source: AFP

Around 10 French clients with leases on Teslas are suing the US carmaker, run by Elon Musk, because they consider the vehicles to be “extreme-right” symbols, the law firm representing them said on Wednesday.

They feel they suffered “direct and concrete” damage from the way Teslas are now associated with “Elon Musk’s actions”, the GKA law firm said.

They are demanding the Paris commercial court order their lease contracts be terminated and legal costs reimbursed, it said in a statement, signed by lawyers Patrick Klugman and Ivan Terel.

The lawsuit comes as Tesla sales in the European Union have almost halved since the beginning of the year, a slump attributed to Musk’s political activities.

Those activities include him — until last week — standing firmly with US President Donald Trump, and overseeing efforts to cut down US departments and agencies.

He has also lent public support to Germany’s far-right Alternative for Germany (AfD) party, and came under criticism for making a repeated gesture with an out-thrust arm interpreted by many historians to be a Nazi salute.

“Because of Elon Musk’s actions… Tesla branded vehicles have become strong political symbols and now appear to be veritable extreme-right ‘totems’, to the dismay of those who acquired them with the sole aim of possessing an innovative and ecological vehicle,” GKA said in a statement.

The perception of the Teslas they leased “prevents them from fully enjoying their car”, it said.

Most of the leases run for four years, with an option at the end to buy the vehicle.

Tesla cars in Europe and elsewhere have been targeted by vandals, with some drivers reporting they have been insulted for using what is sometimes called on social media a “swasti-car”.

Several owners have taken to putting stickers on their Teslas reading “I bought this before Elon went crazy”.

“The situation is both unexpected and impossible for French Tesla owners,” Klugman told AFP.

“Musk’s political positions have interrupted enjoyment” of the vehicles, and “we believe that Mr Musk owes these buyers the peaceful possession of the thing sold”, he said.

Contacted by AFP for comment, Tesla did not immediately respond.

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