Tag: CBEX

Until Nigerians Learn, Scams Will Never End By Yusuf Ahmed Baba Nigeria has become a playground for fraudulent investment schemes, wonder banks, and cyber scams. Time and again, citizens driven by desperation, greed, or plain ignorance have poured their savings into platforms promising impossible returns. The script...

Senate Declares Emergency on Ponzi Scheme, Probes N1.3tn CBEX Collapse The Senate on Wednesday launched a sweeping probe into the rise of Ponzi schemes in the country, following the catastrophic collapse of Crypto Bridge Exchange, a digital investment platform that allegedly fleeced Nigerians of over...

EFCC Traces CBEX Stolen Funds to Four Countries, Says Full Recovery Impossible  The Economic and Financial Crimes Commission (EFCC) said it has traced funds linked to the failed crypto bridge exchange (CBEX) scheme to at least four countries. Speaking on a Channels Television programme on Wednesday...

The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted over the alleged investment fraud perpetrated on Crypto Bridge Exchange (CBEX), a trading platform.

On April 15, CBEX—another in the long, dreadful line of Ponzi schemes—folded, sending shockwaves through Nigeria’s fragile financial landscape.

CBEX: SEC to Gag Unlicensed Exchanges as Nigerians Fall to N1.3tn Ponzi Scheme The Securities and Exchange Commission has issued a fresh warning to Nigerians, declaring that all investment and digital asset platforms not registered with the Commission are operating illegally. The warning came to light...