{"id":10957,"date":"2025-04-15T15:06:31","date_gmt":"2025-04-15T14:06:31","guid":{"rendered":"https:\/\/youdonhear.org\/?p=10957"},"modified":"2025-04-15T15:06:32","modified_gmt":"2025-04-15T14:06:32","slug":"dont-cry-more-ponzi-are-coming-nigerians-lament-as-cbex-allegedly-vanishes-with-n1-3-trillion","status":"publish","type":"post","link":"https:\/\/youdonhear.org\/?p=10957","title":{"rendered":"\u201cDon\u2019t Cry, More Ponzi Are Coming\u201d-Nigerians Lament as CBEX Allegedly Vanishes with N1.3 Trillion"},"content":{"rendered":"\n



Thousands of Nigerians have been plunged into financial chaos following the alleged collapse of CBEX, a digital investment platform accused of swindling over N1.3 trillion<\/strong> from investors in what many now describe as yet another massive Ponzi scheme<\/strong>.<\/p>\n\n\n\n

Reports began surfacing on Tuesday via YouDonHear Online<\/em>, showing emotional scenes of distraught victims\u2014many of them women\u2014breaking down in tears after reportedly losing life savings to the platform.<\/p>\n\n\n\n

According to multiple user testimonies, CBEX abruptly became inaccessible after users started experiencing delays in withdrawals. Shortly after, many discovered their account balances had mysteriously dropped to zero.<\/p>\n\n\n\n

On X (formerly Twitter)<\/strong>, users have flooded the timeline with reactions ranging from sorrow to scathing criticism.<\/p>\n\n\n\n

\n

\u201cEven pipul wey no get anything to do with CBEX dey cry too\u2026 9ja don tire person to the extent person nor know who dey lie again. Chai,\u201d tweeted @edoPeekeen, capturing the widespread despair and confusion.<\/p>\n<\/blockquote>\n\n\n\n

User @Eskimoh_ emphasized the need for better financial education:<\/p>\n\n\n\n

\n

\u201cNo one rule of investment states, \u2018Never invest any amount you can\u2019t afford to lose.\u2019 A lot of people need financial literacy, and the sad story is the government will never add that to school subjects.\u201d<\/p>\n<\/blockquote>\n\n\n\n

But not everyone shared the same sympathy.<\/p>\n\n\n\n

\n

\u201cNigerians don\u2019t learn,\u201d wrote @ricky_chiekezie.
\u201cTrust me, if another platform kicks off right after the CBEX collapse, Nigerians will still flood in like idiots. The level of greed, foolishness and gullibility amongst you people needs studying.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Some directed their criticism at victims who posted emotional videos online.<\/p>\n\n\n\n

\n

\u201cI don\u2019t feel for anyone who records themselves while crying\u2026 If she like make she cry till tomorrow, na her sabi!\u201d wrote @victorajibade10.
And in a biting tone, @kingleke34 added:
\u201cDon\u2019t cry eh, more Ponzi are coming.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Others reflected on deeper lessons about risk and financial planning.<\/p>\n\n\n\n

\n

\u201cIf managing wealth were that easy, wealth management firms wouldn\u2019t exist,\u201d said @DSegaj.
\u201cYes, investing is key to sustaining wealth \u2013 but without a good financial advisor, you might lose everything to naivety.\u201d<\/p>\n<\/blockquote>\n\n\n\n

One Lagos-based forex broker, RHI O.O.BI, known online as @Obobanj, has been linked to the CBEX platform. In a tweet, he noted:<\/p>\n\n\n\n

\n

\u201cWhile investigations are still unfolding, social media has been flooded with heartbreaking stories, outrage, and bitter lessons from victims and observers alike.\u201d<\/p>\n<\/blockquote>\n\n\n\n

He further echoed warnings from regulatory authorities:<\/p>\n\n\n\n

\n

\u201cThe Central Bank of Nigeria (CBN) has long warned citizens about the dangers of Ponzi schemes. Despite this, platforms like CBEX keep popping up, luring people with fake promises and vanishing into thin air.\u201d<\/p>\n<\/blockquote>\n\n\n\n

CBEX had marketed itself as a high-yield investment opportunity, guaranteeing a 100% return within 30 days<\/strong>, with investments accepted strictly in U.S. dollars<\/strong>.<\/p>\n\n\n\n

Efforts to contact CBEX or any of its representatives have so far proven futile. Financial experts are now urging Nigerians to exercise extreme caution<\/strong> and verify the regulatory status of any investment platform through the CBN<\/strong> and Securities and Exchange Commission (SEC)<\/strong> before parting with their money.<\/p>\n\n\n\n

For now, the full scope of financial damage may take weeks to assess, but the emotional and economic toll is already clear.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thousands of Nigerians have been plunged into financial chaos following the alleged collapse of CBEX, a digital investment platform accused of swindling over N1.3 trillion from investors in what many now describe as yet another massive Ponzi scheme. Reports began surfacing on Tuesday via YouDonHear Online, showing emotional scenes of distraught victims—many of them women—breaking […]<\/p>\n","protected":false},"author":8,"featured_media":10958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,3],"tags":[],"class_list":["post-10957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-story","category-news"],"jetpack_featured_media_url":"https:\/\/youdonhear.org\/wp-content\/uploads\/2025\/04\/WhatsApp-Image-2025-04-15-at-10.27.53-AM-720x720-1.jpeg","jetpack_sharing_enabled":true,"brizy_media":[],"_links":{"self":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/10957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10957"}],"version-history":[{"count":1,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/10957\/revisions"}],"predecessor-version":[{"id":10959,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/posts\/10957\/revisions\/10959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=\/wp\/v2\/media\/10958"}],"wp:attachment":[{"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youdonhear.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}