Crime
Exchange Commission Partners Police To Tackle Illegal Scheme Operators, Crypto Fraudsters
Exchange Commission Partners Police To Tackle Illegal Scheme Operators, Crypto Fraudsters
Exchange Commission partners police to tackle illegal scheme operators, crypto fraudsters. The Securities and Exchange Commission (SEC) and the Nigeria Police Force have forged an alliance against illegal scheme operators, investment frauds, and cryptocurrency frauds in a bid to protect the hard-earned savings and the financial dreams of the Nigerian people.
The director-general of the SEC, Dr Emomotimi Agama, stated this during a meeting with the Inspector General of Police, Kayode Egbetokun, held yesterday in Abuja.
Agama said the SEC, as the sentinel at the gate of Nigeria’s formal capital markets, had the mandate to protect investors, maintain fair, efficient, and transparent markets, and promote the growth of a vibrant economy built on trust, which is done by setting rules, licensing operators and market surveillance.
He, however, stated that the Commission faced adversaries who operate in the shadows, outside regulated gates by exploiting the trust of people and promising miraculous returns such as 200 per cent in 30 days.
“Currently, there is a gap, a seam between identification and enforcement that these scammers exploit. Today, we aim to close that gap permanently. Therefore, we propose a robust, institutionalised collaboration with the following pillars: Joint Intelligence and Operations Task Force: Capacity Building and Knowledge Transfer; Streamlined Processes for Enforcement and National Public Awareness Campaign,” he stated.
The SEC DG advocated, “the establishment of a dedicated SEC-NPF team that combines market intelligence, forensic accounting, and understanding of complex financial schemes with investigative and intelligence-gathering capabilities. This team will be the rapid-response unit to new frauds.”
Agama also sought the permission of the IGP to go into a Memorandum of Understanding with the Cyber Security Unit of the Police Force in a bid to ensure that cyberspace is safe for all Nigerians
In his response, the IGP Kayode Egbetokun assured the SEC team that the Nigerian police Force is ready to collaborate with the Commission, strengthen partnership in all the ways possible, and ensure that the Commission achieves its aims.
He said, “Your role in the Securities and Exchange Commission is very crucial to the Nigerian Economy, and with our supervision and support from the government, we will ensure economic recovery and growth. If the police unit in SEC is strengthened, it is going to make such an impact on your enforcement drive.
Exchange Commission Partners Police
What you said speaks so much to your determination to ensure effective drive in the Capital market, and when we can achieve effective enforcement, it comes with so many benefits.
Egbetokun also congratulated the Commission on the recent achievement of the N100 trillion market capitalisation mark, adding that it will aid economic growth and development.
Navy Dismantles Illegal Refining Capacity, Destroys Site With 3 Storage Tanks in Rivers
The Nigerian Navy, through FOB BONNY, has dismantled an illegal refining site discovered in Promise Land Community along Nanabie Creek, Bonny Local Government Area of Rivers State, further denying criminal operators the infrastructure required to process stolen crude oil.
Eereporter.com
The site was discovered on 30 September 2026 following credible intelligence and comprised one large cooking pot and 3 large storage tanks intended for illegal refining activities. On 2 October 2026, the Commanding Officer, FOB BONNY, Captain SMC Umeh, led a team to the location, where the illegal refining site and associated equipment were destroyed in accordance with established regulations.
The intervention represents a further disruption of illegal refining capacity within the Bonny area, particularly by removing infrastructure that could be used to process and store stolen crude oil. It also follows recent operations by FOB BONNY under Operation DELTA SENTINEL that uncovered substantial volumes of suspected stolen crude oil and associated illegal refining infrastructure within its Area of Operations
Oil
The Nigerian Navy has continued to strengthen surveillance and monitoring across the area to prevent the establishment or reactivation of illegal refining sites and deny criminal operators the infrastructure required to sustain crude oil theft and related activities.
ABIODUN FOLORUNSHO
Navy Captain
Director Naval Information
Nigerian Navy
Eereporter.com
Nigerian Police Foil Bandit Attack in Sokoto, Recover Rocket Launchers
The Sokoto State Police Command has foiled an attempted bandit attack on Tsabre community in Isa Local Government Area, recovering two rocket launchers and other items abandoned by the fleeing attackers.
Eereporter.com
The incident occurred around 1am on Friday when the armed men reportedly invaded the village and opened sporadic gunfire, causing panic among residents.
The Police Public Relations Officer, Ahmad Rufa’i, disclosed this in a statement issued on Friday.
He said the Divisional Police Officer in Isa, upon receiving a distress call, immediately mobilised tactical teams, including operatives of the Anti-Kidnapping Unit and Violent Crime Response Unit, to confront the attackers.
According to him, the police engaged the bandits in a gun battle, forcing them to retreat into a nearby forest.
“The tactical teams engaged the hoodlums in a fierce gun duel that lasted for some time. Due to the superior firepower and tactical positioning of the police operatives, the bandits were overpowered and forced to escape into the nearby forest with their casualties,” Rufa’i said.
He added that the police subsequently combed the surrounding bushes and recovered two rocket launchers and two empty AK-47 magazines.
Other items recovered included a Techno keypad phone without a battery, a touch light, an Army jungle hat, a sweater cap, five pairs of sandals and a rain jacket.
The Commissioner of Police, Hayatu Shaffa, commended the officers for their swift response and courage during the operation.
Shaffa reaffirmed the command’s commitment to protecting lives and property across the state.
Police
He also urged residents to remain vigilant and promptly report suspicious persons and activities to the police.
The CP further appealed to residents to report anyone with suspected gunshot wounds seeking medical attention to the nearest police station, as efforts continue to track the fleeing attackers.
Eereporter.com
Navy Rescues 2 Kidnapped Victims, Recovers Stolen Outboard Engines in Akwa Ibom
The Nigerian Navy has rescued 2 kidnapped victims and recovered several stolen outboard engines during an operation against sea robbery and kidnapping in the Ibeno general area of Akwa Ibom State on 30 September 2026.
Eereporter.com
The operation followed credible information on the activities of suspected sea robbers and kidnappers targeting fishermen and forcibly taking away fishing boats and outboard engines. In response, the Nigerian Navy Ship JUBILEE Maritime Quick Response Team, Ibeno, swiftly mobilised to the area to counter the threat.
During the operation, the naval team encountered 2 boats suspected to be operated by the criminals, prompting the occupants to flee into adjoining creeks. In the ensuing pursuit, the suspects abandoned one of the boats containing several stolen outboard engines and the 2 kidnapped victims, who were immediately rescued by the naval team and escorted to safety. The recovered outboard engines were secured for verification and further necessary action, while efforts are ongoing to locate and apprehend the fleeing suspects.
The successful operation underscores the Nigerian Navy’s sustained commitment to Search and Rescue (SAR), the protection of lives and the security of legitimate maritime activities across Nigeria’s waters. Through its network of ships, bases, surveillance systems, maritime quick response teams and other operational elements, the Nigerian Navy continues to maintain a presence across the maritime domain, enabling timely responses to distress situations and emerging security threats.
Navy
The operation also demonstrates the importance of credible intelligence and community support in enhancing maritime security. The Nigerian Navy therefore encourages coastal communities, fishermen and other maritime stakeholders to continue providing timely information that could assist in preventing criminal activities and responding rapidly to persons in distress.
The Nigerian Navy remains resolute in safeguarding Nigeria’s maritime domain and will continue to sustain proactive patrols, Search and Rescue operations, and intelligence-driven interventions aimed at protecting lives and property while denying criminal elements freedom of action in the nation’s waterways.
Eereporter.com
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