Nigerians para afta losing money to CBEX, angry youths for Ibadan loot office

Nigerians on social media dey para say dem lose money ontop digital asset trading platform, CBEX.

Dose wey invest ontop di platform say dem no fit withdraw dia money for some days as withdrawal dey suspended. Afta di withdrawal suspension, investors begin say dia account balance don enta zero.

CBEX investment dey promise 100 percent return on investment for investors for one month and dis na why pipo bin rush am.

Oda Nigerians on social media say anyone wey put money for such investment na greedy pesin and wonder why Nigerians go dey fall for such scam afta MMM wey crash some years ago.

Bifor di crash, pipo wey bin dey invest ontop di platform dey spread di message about di investment on social media platforms and WhatsApp so odas fit join.

Angry youths for Ibadan loot CBEX office

A group of angry youths bin storm CBEX office for Oke Ado area of Ibadan, di Oyo State capital, to loot items afta di crash of CBEX.

For one video wey circulate on social media, di youths carry items wey include air conditioner, fan and oda valuables.

Di angry youths also comot CBEX office glasses.

According to SEC, di newly enacted Investments and Securities Act, 2025 (ISA 2025) make am illegal to operate digital asset exchanges or online foreign exchange trading platforms witout formal registration wit di commission.

For one statement on Sunday, di SEC say in accordance wit di ISA 2025 wey President Bola Tinubu recently sign, na offence for any entity to operate online forex trading platform or provide related services witout prior registration wit di commission.

"By virtue of dis Act, na offence for Nigeria for any entity wey no dey registered by di commission to carry out di business of online foreign exchange trading platforms or related services.

"Any business entity wit di plan of setting up a business for any of dis area dey advised to visit di HOD DRM Department of di commission for further directive on how to register wit di commission to avoid sanctions," di statement tok.

"Under di newly enacted legislation, di Securities and Exchange Commission (SEC) now dey empowered to regulate a broader scope of market activities as Section 3(3)(b) of di Act explicitly mandate di commission to "register and regulate securities exchanges, commodity exchanges, virtual and digital asset exchanges, and oda market venues."

L00ting is currently going on at CBEX office in oke ado ibadan, people don full there Dey steal AC , fan and all other valuables😭💔 pic.twitter.com/c9Ur07I5jT
— Oyindamola🙄 (@dammiedammie35) April 14, 2025

This guy lost 180k dollars on CBEX. Why Nigerians Mumu like this? Even if you are too lazy to run a Business . You can build atleast 10 three-bedroom flats spread across Nigeria with amount and rent them out. You’d never be broke again forever. pic.twitter.com/9hNS5G4H3j
— Dr Penking™🇳🇬🇦🇺 (@drpenking) April 14, 2025

You know why scams like Cbex will never end and continuing to cash out on intentional gullible humans?

Cuz they operate on your greed ,

You haven't learn from MMM, racksteli and co
Don't worry another one will come and u will still fall for same trick #cbexscam #CBEX pic.twitter.com/CbWunyrzKD
— capital🦅('DC') (@CAPITAL__DC) April 14, 2025