P0NZI SCHEME: Angry Youth Loot CBEX Office In Ibadan (VIDEO)

A group of angry Nigerians have stormed the office of CBEX, a digital asset trading platform located in the Oke Ado area of Ibadan, looting every item they could find.

The enraged youths, seen in several videos circulating on social media, expressed outrage over the loss of their investments to the platform.

This incident comes in the wake of the platform’s closure following its inability to allow users to withdraw their funds, leading to widespread financial losses.

Meanwhile The Securities and Exchange Commission (SEC) has reacted to the operations of CBEX, a digital asset trading platform in Nigeria, saying any of such platform not registered with the SEC is illegal.

This comes amidst the rumors of closure of the platforms over the inability of users to withdraw their funds over the weekend.

Speaking during a virtual engagement with fintech stakeholders on the Investment and Securities Act (ISA 2025) on Monday, the Director General of the SEC, Emomotimi Agama, warned Nigerians against patronizing unregistered platforms.