Business
CBEX investors count losses as platform crashes; Mob loots Ibadan office
Panic and heartbreak have gripped investors of CBEX, a digital trading platform, following its sudden crash and the disappearance of users’ funds.
Several Nigerians have been seen in viral videos breaking down in tears after discovering that their accounts had been wiped clean, with some claiming to have lost millions of naira.
The platform, which operated exclusively in U.S. dollars, had promised a 100% return on investment within one month, attracting thousands of hopeful investors.
Trouble began when users started experiencing difficulties withdrawing their funds. Soon after, many reported that their account balances had mysteriously dropped to zero.
The crash has triggered a wave of outrage and despair, with emotional reactions flooding social media. In one widely circulated video, distressed women could be seen lamenting their losses and questioning how they fell for the scheme.
Matters escalated on Monday when a mob stormed the CBEX office located in the Oke Ado area of Ibadan, Oyo State.
Eyewitnesses reported that the aggrieved crowd forcefully gained access to the premises and looted furniture, including tables, couches, and other office equipment.
The looting is believed to have been sparked by anger over the platform’s collapse and the financial ruin it caused.
As of press time, authorities have yet to issue an official statement or confirm whether any arrests have been made in connection with the incident.
