Thousands of Nigerians, many of them young and hopeful investors, have been plunged into financial ruin after the digital platform CBEX — widely suspected to be a Ponzi scheme — suddenly crashed.
Desperate victims flooded social media with emotional posts, videos, and pleas, mourning the loss of their life savings. A TikTok user, Pretty Nikky Babe, tearfully shared, “CBEX don my savings,” a sentiment now echoed in countless viral clips.
The heartbreak turned violent on Monday as enraged investors stormed the CBEX office in Oke Ado, Ibadan, looting furniture, equipment, and anything in sight. A viral video shows a chaotic scene, with people hauling office items and demanding justice.
“This is what greed brings,” muttered an onlooker. “They warned us, but people no gree hear.”
The Securities and Exchange Commission (SEC) had previously flagged CBEX, warning that it was not a registered trading platform. Yet, many Nigerians still poured their savings into it, lured by promises of quick, high returns.
Online, victims shared heartbreaking stories. One woman, Bola, sobbed outside the office: “Me 200 dollars, but I collected all my friends’ money — all the money, 1,000 dollars.” She said it was everything she saved after working in Libya for years.
Another victim, Oguonu Nchedo Esther, wrote: “My kids are crying as if someone died… we are back to zero… lost $1000… it’s not the end of life.”
Bashir Ahmad, a former presidential aide, posted, on X: “So, the SEC warned Nigerians about CBEX… and people still invested. This is heartbreaking.”
As the dust settles, victims are left with empty accounts, shattered dreams, and a painful lesson about financial scams in the digital age.
