11 h. 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 […]

Politics

38 h. 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.

Events

53 h. 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

55 h. ago Court orders final forfeiture of Livingtrust Mortgage Bank’s N6.6bn shares, N42.4m, $26.44 in Lagos

From Sola Ojo, Abuja On Tuesday, April 15, Justice F.N. Ogazi of the Federal High Court in Ikoyi, Lagos, ordered the final forfeiture of 2,041,087,747 units of Livingtrust Mortgage Bank Plc shares, valued at N6,674,356,932.69, along with N42,461,096.66 and $26.44 in funds. The Economic and Financial Crimes Commission (EFCC) traced these assets to Cititrust Holdings […] The post Court orders final forfeiture of Livingtrust Mortgage Bank’s N6.6bn shares, N42.4m, $26.44 in Lagos appeared first on The Sun Nigeria.

Politics

59 h. 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

3 d. 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.

Politics

3 d. 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

3 d. 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.

Events

7 d. 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

Politics

9 d. ago Court Orders Forfeiture Of N13m Seized From Alleged Fraudster

Justice Dehinde Dipeolu of the Federal High Court in Lagos has ordered the final forfeiture of N13 million initially recovered from an alleged fraudster, Chinedu Ezeudemba, to the federal government. Justice Dipeolu gave the order after entertaining an application brought by the Economic and Financial Crimes Commission (EFCC). Ezeudemba was accused of obtaining money from […]

Politics

1 week ago Presco to pay N42 final dividend as profit more than doubles to N77.79bn

The directors of Presco Plc have recommended a final dividend of N42 per share payable to the shareholders for the read more Presco to pay N42 final dividend as profit more than doubles to N77.79bn

Economics

3 w. ago QNET Denounces Fraudulent Academy In Abuja, Backs EFCC Arrests

QNET, a global direct selling company specialising in wellness and lifestyle products, has strongly distanced itself from a fraudulent scheme recently uncovered by the Economic and Financial Crimes Commission (EFCC) in Abuja. The operation, labelled a “Ponzi Scheme Academy,” falsely used QNET’s name and led to the arrest of 133 individuals who operated under misleading […]

Politics

3 w. ago EFCC Busts Ponzi Scheme Academy In Abuja, Arrests 133 Suspects

The Economic and Financial Crimes Commission (EFCC) has made a significant move in combating fraudulent activities in Nigeria. On Monday, March 24, 2025, the EFCC raided a Ponzi scheme academy in Abuja, arresting 133 suspects in the process. The raid targeted Q University, also known as Q-Net, located at the Compensation Layout in Gwagwalada, Federal […] The post EFCC Busts Ponzi Scheme Academy In Abuja, Arrests 133 Suspects appeared first on Information Nigeria.

Politics

3 w. ago EFCC raids ponzi scheme academy, arrests 133 suspects in Abuja

Operatives of the Economic and Financial Crimes Commission have arrested 133 suspects in Abuja following a raid on a Ponzi scheme academy operating under the name Q University, also known as Q-Net. The operation carried out on Monday, March 24, 2025, took place at the Compensation Layout in Gwagwalada, Federal Capital Territory. A statement by Read More

Politics

4 w. ago QNET Condemns Brand Misuse, Denies Involvement In EFCC Fraud Investigation

QNET, a global lifestyle and wellness direct-selling company, has strongly condemned the misuse of its brand by fraudulent actors following the recent arrest of 28 individuals by the Economic and Financial Crimes Commission (EFCC) in Minna, Niger state. The company firmly denies any involvement in the alleged Ponzi scheme linked to these individuals and reiterates […]

Politics