General News
NFIU Alerts Nigerians of Rising Ponzi Schemes, Unregulated Crowdfunding Scams

The Nigerian Financial Intelligence Unit (NFIU) issued a detailed advisory on yesterday, warning Nigerians about the growing threat of Ponzi schemes and unregulated crowdfunding scams, particularly in digital assets, agriculture, and real estate.

These sophisticated scams, often disguised under appealing brand names, promise unrealistically high returns, exploiting vulnerable citizens facing economic hardship between 2022 and 2025.
Digital asset scams, like Crypto Bridge Exchange (CBEX) and Chinmark Group, leverage cryptocurrencies’ anonymity and limited regulation. CBEX, promising 100% returns in 30 days, collapsed with over ₦1.3 trillion in losses, using blockchain to obscure funds.
Chinmark, posing as a conglomerate, defrauded investors of over ₦10 billion via social media and religious endorsements. “We are committed to saving Nigerians from the troubles associated with Ponzi schemes,” the NFIU stated, pledging to pursue major actors.
Agricultural Ponzi schemes, such as Farmforte Ltd and Green Eagles Agribusiness, promise unsustainable farming returns, with one Lagos operator collapsing after processing ₦400 million with 16% monthly return pledges. Red flags include guaranteed high returns, unlicensed operations, and reliance on referrals.
The Investment and Securities Act (ISA) 2025 imposes fines of ₦20 million and up to 10 years’ imprisonment for promoting Ponzi schemes, empowering the Securities and Exchange Commission (SEC) to regulate digital assets. The NFIU urged licensing for Virtual Asset Service Providers, advanced fraud detection, and stronger KYC/AML compliance by financial institutions.
It advised the public to verify platforms with the SEC, question return mechanisms, and report suspicious schemes promptly.
General News
NERC Orders DisCos to Refund ₦20.33bn Meter Costs to Customers

Nigerian Electricity Regulatory Commission (NERC) has ruled in favor of electricity consumers, directing distribution companies (DisCos) to refund ₦20.33 billion in outstanding costs for meters bought under the Meter Asset Provider (MAP) framework.

NERC
Signed on February 27, 2026, by NERC Chairman Musiliu Oseni and Commissioner Dafe Akpeneye, Order No. NERC/2026/025 amends a 2023 directive.
It requires DisCos to disburse the funds via energy credits over 12 months starting March 1, 2026, addressing years of slow refunds.
As of December 31, 2025, DisCos owed this amount due to delays in reimbursing prepaid customers who funded their own meters.
DisCos must automate credits for the full MAP meter cost upon activation, disbursed monthly over 120 months based on the customer’s tariff—credits cannot offset legacy debts.
Prepaid customers will receive a monthly token by the 4th day equivalent to the reimbursement value; for arrears, they’ll get two tokens per month.
Postpaid customers will see a distinct credit line on bills subtracted from totals, with two line items monthly for arrears.
NERC mandates monthly reports on reimbursement values using an approved template, plus dedicated email channels for complaints with resolution status included.
The order aims to end delays, improve notifications, and boost sector trust. DisCos must accelerate arrears recovery over 12 months without further excuses.
This follows NERC’s February 2026 compliance review, amid ongoing power sector challenges highlighted by Power Minister Adebayo Adelabu.
General News
NCDC Raises Alarm over Lassa Fever Ravaging 18 States in Nigeria

Nigeria Centre for Disease Control and Prevention (NCDC) has raised alarm over ravage of Lassa fever cases across 18 states and 67 Local Government Areas (LGAs) of the country.

Dr Jide Idris, director-general of NCDC, in statement yesterday, said that Bauchi, Ondo, Taraba, Edo and Benue accounted for more than 80 per cent of confirmed cases recorded during the 2026 peak transmission season.
Idris, described as particularly worrisome the growing infections among healthcare workers, with 28 confirmed cases and three deaths reported so far this season.
NCDC attributed the sustained transmission and rising fatalities to operational gaps at the state level, urging urgent action to strengthen outbreak response and control measures.
According to Idris, field investigations showed most transmissions were occurring in known endemic areas, but weak implementation of established response frameworks had contributed to the continued spread and higher case fatality rate.
He said that gaps identified include infections in general outpatient and maternity settings, poor adherence to Infection Prevention and Control (IPC) protocols, and inadequate pre-positioning of Personal Protective Equipment (PPE).
He added that delayed patient presentation due to financial barriers, inconsistent activation of State Incident Management Systems, weak contact tracing, persistent stigma and poor isolation centre standards were also driving transmission.
Idris emphasised that outbreak response implementation and health service delivery fell primarily under state governments within Nigeria’s federal structure, urging them to strengthen accountability and resource allocation.
He called on affected and high-risk states to urgently activate and closely monitor their Incident Management Systems, ensuring timely coordination and efficient outbreak response at all levels of healthcare delivery.
He also urged the immediate release of response funds, strict enforcement of Infection Prevention and Control (IPC) compliance in public and private health facilities, and continuous availability of PPE and other critical supplies.
The NCDC boss also advocated accelerated financial protection mechanisms to reduce late presentation and high fatality rates, alongside institutionalised rodent control and environmental sanitation measures under a One Health approach.
He advised healthcare workers to maintain a high index of suspicion and adhere strictly to IPC guidelines.
He also urged the public to keep environments clean, prevent rodent entry into homes, store food safely and seek early medical care when symptoms appeared.
Idris noted that Lassa fever was treatable, with improved outcomes when detected early, adding that Nigeria was also responding to other epidemic-prone diseases including Cerebrospinal Meningitis, Diphtheria, Mpox and Cholera.
He reiterated NCDC’s toll-free emergency line, 6232, for reporting suspected cases and obtaining further information
General News
Lagos Deploys Drones, AI to Boost Traffic Response
The Lagos State Traffic Management Authority (LASTMA) has deployed a number of real-time digital solutions, including surveillance drones, GPS-enabled patrol vehicles, and automatic incident detection software.
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The agency has also established a central command and control centre to reduce emergency response times and improve traffic safety throughout Lagos.
According to the agency, the digital transition will replace manual reporting and fragmented coordination with an integrated, data-driven platform capable of instantaneously detecting, verifying, and dispatching responders to crashes and breakdowns.
According to general manager Olalekan Bakare-Oki, LASTMA, body cameras, mobile data terminals, and toll-free hotlines now feed into a unified operations hub that gives real-time visibility of traffic situations across the state.
Incidents detected by digital surveillance are validated in real time and dispatched to the nearest patrol team using GPS tracking, while officers are instructed via modern communication devices.
According to the agency, the system has eliminated delays caused by poor event reporting and logistical constraints, enabling faster diversions, quicker clearance of accident scenes, and better coordination with medical and security agencies.
Field commanders and rescue teams now operate on synchronised data networks, allowing immediate decisions that reduce secondary crashes and prolonged congestion.
According to LASTMA’s 2025 operational summary, the agency rescued 1,075 people from crash scenes, and impounded 17,169 vehicles for various traffic violations across Lagos through its toll-free hotline.
These figures reflect how timely reporting and coordinated response have already reduced secondary accidents and eased congestion, according to the agency.
It went on to it achieved this with the toll-free reporting system, body cameras, and field coordination networks but with the newly deployed suite of smart technologies, the agency’s impact is poised to multiply.
Bakare-Oki said the upgrade aligns with the state’s smart-city agenda, positioning LASTMA as a technology-enabled public safety agency and laying the groundwork for faster, more reliable mobility management on Lagos roads.
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