3 d. ago CIS says unregistered investment in capital market is ponzi scheme

Oluropo Dada, the 13th president and chairman of Council, Chartered Institute of Stockbrokers (CIS) has described any unregistered investment in read more CIS says unregistered investment in capital market is ponzi scheme

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5 d. ago Ponzi Scheme: SEC launches sensitization campaign in Wuse Market

From Adanna Nnamani, Abuja In a bid to prevent more Nigerians from falling victims to Ponzi schemes, the Securities and Exchange Commission (SEC) said it conducted a sensitization campaign at Wuse Market on Friday. Led by its Director General, Dr. Emomotimi Agama, the SEC team distributed informational flyers and engaged traders on the risks associated […] The post Ponzi Scheme: SEC launches sensitization campaign in Wuse Market appeared first on The Sun Nigeria.

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1 week ago Popular Fuji Musician Taye Currency Laments Losing N10m To CBEX Scam

An Ibadan, Oyo State-based renowned Fuji musician, Alhaji Taye Adebisi, popularly known as Taye Currency, has disclosed that he lost the sum of N10 million to CBEX, a fraudulent cryptocurrency trading platform. The artist disclosed this in a trending video on social media while performing at a social function. LEADERSHIP recalls that the Ponzi scheme […]

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1 week ago Ponzi scams: CBEX crash highlights need for public awareness, investment regulation

They come with different names but their configuration remains the same, and every time Nigerians fall for them, losing millions of naira in the process. In this piece, OLUWAKEMI ABIMBOLA explores Ponzi schemes that promise wealth but deliver tears and heartbreak to unsuspecting clients “I was sure that CBEX was my breakthrough,” said Adekemi Fakoya, Read More

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1 week ago Reps Demand Crackdown On Masterminds Of ₦1.3tr CBEX Crypto Scam

The House of Representatives on Thursday expressed deep concern over reports of the crash of a fraudulent cryptocurrency investment scheme – CBEX, calling for an urgent crackdown by all security agencies on the perpetrators of the economic crime. LEADERSHIP recalls that the scheme has trapped over ₦1.3 trillion belonging to thousands of Nigerians. Chairman, House […]

Politics

1 week ago CBEX: Investors hospitalised following trading platform crash

Over 27 people are reportedly receiving treatment in various hospitals after digital asset trading platform CBEX crashed earlier this week. Nigerians who invested in CBEX continue to bemoan their losses after the Ponzi scheme allegedly swept more than N1.3 trillion from investors’ accounts on Monday. One of the victims named Sherif Latifu, who resides in […] The post CBEX: Investors hospitalised following trading platform crash appeared first on The Sun Nigeria.

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2 w. ago Ponzi scheme: Court seizes N6.6bn Livingtrust shares, N42.4m linked to Cititrust

Justice F. N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of 2,041,087,747 units of shares in Livingtrust Mortgage Bank Plc, formerly known as Omoluabi Mortgage Bank Plc, valued at N6,674,356,932.69. The court also ordered the forfeiture of N42,461,096.66 and $26.44, all traced to Cititrust Holdings Plc and Read More

Politics

2 w. ago CBEX crash: All you need to know about the Ponzi scheme that duped Nigerians

On Tuesday, the digital investment platform CBEX suddenly collapsed, with reports indicating that investors incurred losses amounting to over N1.3 trillion. The incident has sparked widespread reactions, with users expressing frustration, criticism, and concern. Many stormed the CBEX office in Oyo State to destroy their belongings. PUNCH Online has compiled a list of things you Read More

Events

2 w. ago From MMM to CBEX: Timeline of Ponzi schemes that have duped Nigerians

Over the years, Nigerians have fallen victim to a series of Ponzi schemes that promised quick riches but ended in devastating losses. From the infamous Mavrodi Mundial Moneybox, popularly known as MMM that crashed in 2016, leaving millions of investors stranded, to the recent collapse of CBEX and other crypto-based platforms, the allure of high Read More

Politics

2 w. ago Nigerians lose ₦1.3 trillion as alleged Ponzi scheme CBEX collapses

From Chinenye Anuforo Thousands of Nigerians face financial ruin after the collapse of CBEX, a digital investment platform accused of running a Ponzi scheme that allegedly vanished with over ₦1.3 trillion ($850 million USD). The fallout has sparked widespread distress, with victims sharing devastating stories on social media. One investor, quoted in a transcribed audio […] The post Nigerians lose ₦1.3 trillion as alleged Ponzi scheme CBEX collapses appeared first on The Sun Nigeria.

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2 w. ago 27 Investors ‘Hospitalised’ Over CBEX Trading Platform Crash In Oyo

No fewer than 27 persons have reportedly been hospitalised following the crash of a digital digital asset trading platform, known as CBEX in Oyo State. Nigerians who subscribed to what is now regarded as a Ponzi scheme took to their various social media platforms to lament their losses after CBEX allegedly swept over N1.3 trillion […]

Events

2 w. ago Angry Youths Storm, Loot CBEX Office In Ibadan Following Platform Crash (Video)

Some angry residents of Oke Ado have invaded CBEX office located in Ibadan, Oyo State, looting furniture and other valuable items after the digital trading platform reportedly crashed. It was gathered that the youths in their numbers, were spotted in a video circulating online, invading the building of the ponzi scheme organization. They were seen […] The post Angry Youths Storm, Loot CBEX Office In Ibadan Following Platform Crash (Video) appeared first on Information Nigeria.

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2 w. ago VIDEO: Angry investors storm CBEX office in Ibadan following platform crash

A group of angry individuals stormed the CBEX office located in the Oke Ado area of Ibadan, Oyo State, on Monday, looting furniture and other items after the digital trading platform reportedly crashed. Eyewitnesses said the mob forcibly entered the premises, carting away tables, couches, and other office equipment. The attack is believed to have Read More

Events

2 w. ago CBEX sparks ponzi scheme fears as users report withdrawal delays

Social media was abuzz on Friday following concerns about the operations of CBEX, a digital asset trading platform, with several users warning that it shows signs of being a Ponzi scheme. On Wednesday, an X user, Man of Letters (@Letter_to_Jack), posted a cautionary note after learning about an individual who reportedly invested $1,000 in CBEX Read More

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