1 week ago NFIU warns of surge in Ponzi, unregulated crowdfunding scams

From Juliana Taiwo-Obalonye, Abuja The Nigerian Financial Intelligence Unit (NFIU) has released a comprehensive advisory alerting Nigerians to the escalating threat of Ponzi schemes and unregulated crowdfunding operations, particularly those exploiting digital assets, agriculture and real estate sectors. In the advisory published on Wednesday, the NFIU emphasised that these fraudulent schemes have evolved in sophistication, […] The post NFIU warns of surge in Ponzi, unregulated crowdfunding scams appeared first on The Sun Nigeria.

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2 w. ago Abiodun awarded on foreign investment drive, says Ogun is Nigeria’s industrial hub

…to showcase Ogun economic potentials in Oman …plans to host Ogun Economic Summit The Foreign Investment Network (FIN), a United read more Abiodun awarded on foreign investment drive, says Ogun is Nigeria’s industrial hub

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2 w. ago Wike investigates unauthorised subcontracting of ICC furniture renovation, threatens sanctions

From Juliana Taiwo-Obalonye, Abuja Federal Capital Territory (FCT) Minister Nyesom Wike expressed dismay on Wednesday over the unauthorised subcontracting of the furniture installation for the ₦39 billion International Conference Centre (ICC) renovation in Abuja. During an inspection of the ICC and the N16 road project in Gishiri, Wike discovered that the furniture contract, originally awarded […] The post Wike investigates unauthorised subcontracting of ICC furniture renovation, threatens sanctions appeared first on The Sun Nigeria.

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3 w. 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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3 w. ago Water minister urges more investments in irrigation to tackle climate change, food crisis

From Charity Nwakaudu, Abuja The Minister of Water Resources and Sanitation, Prof. Joseph Utsev, has stressed the need for partnerships and greater investment in irrigation to tackle climate change, population growth, and food insecurity. The minister made this known at the 6th African Irrigation and Drainage (ARCID) Conference, which concluded with an award ceremony on […] The post Water minister urges more investments in irrigation to tackle climate change, food crisis appeared first on The Sun Nigeria.

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3 w. 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 […]

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3 w. 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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3 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

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3 w. ago N1.3trn CBEX Scam: We Warned Nigerians Against Ponzi Schemes, Says EFCC

The Economic and Financial Crimes Commission (EFCC) has reiterated its warnings to Nigerians about the dangers of Ponzi schemes, following the collapse of digital investment platform CryptoBank Exchange (CBEX), which has reportedly defrauded investors of over N1.3 trillion. Speaking on Channels Television’s breakfast show – ‘The Morning Brief’ – on Wednesday, EFCC spokesperson, Dele Oyewale, […]

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3 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 […]

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3 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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3 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

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