CBEX: ‘Overnight wealth ends in regret’ – Prophet Olu Alo cautions against ponzi investments

Prophet Sam Olu Alo, the Planter of Christ Apostolic Church (CAC), Adamimogo, Grace of Mercy Prayer Mountain Worldwide, has cautioned Nigerians against falling for Ponzi schemes, urging them to embrace diligence and patience as the only sustainable path to financial prosperity.

Speaking during an Easter programme themed “God of Elijah” held at Adamimogo Jesus City, Lekki, Lagos, the respected cleric expressed deep concern over the widespread desperation for quick riches among Nigerians—an attitude he believes is fueling the rise of fraudulent schemes.

His comments come in the wake of the collapse of the CBEX digital trading platform, a notorious Ponzi scheme that allegedly swindled thousands of Nigerians out of over ₦1.3 trillion.

While the Economic and Financial Crimes Commission (EFCC) has initiated efforts to recover the stolen funds and is collaborating with Interpol to apprehend the perpetrators, Prophet Olu Alo lamented the repetitive cycle of greed and loss.

“Someone who says he is jobless invested millions in a scheme—where did the money come from? Whoever is always looking for free money will lose it at last,” he stated.

“Why would you invest in a business you didn’t struggle for? Overnight wealth will always result in regret.”

He stressed that, despite the economic challenges, many victims of these scams somehow managed to pool significant resources for investments they did not fully understand—underscoring the urgency for financial literacy and caution.

The prophet urged the government to step up efforts to alleviate citizens’ suffering by creating more job opportunities and tackling poverty at its root, which he said would reduce the temptation to seek fast money through risky ventures.

Speaking further, Prophet Olu Alo addressed the nation’s ongoing security challenges, including the recent killings in Benue State. He acknowledged the efforts of Nigeria’s security forces but emphasized the need for greater support and resources.

“Security agencies are doing their best, but more needs to be done. They need adequate tools and personnel to confront insecurity head-on,” he said, calling for stronger collaboration between citizens, the government, and corporate bodies to bolster national security.

Extending warm Easter greetings to Christians in Nigeria and beyond, Prophet Olu Alo encouraged believers to reflect on the sacrifice of Jesus Christ and embody virtues such as humility, perseverance, and compassion.

“The death and resurrection of Christ is a gift to mankind. Let us cherish it and live in a way that reflects His love and grace,” he said.

Prophet Olu Alo, who is also the founder of Adamimogo FM, concluded by calling on the faithful to remain steadfast in hope and prayer, especially in trying times.

READ MORE FROM: NIGERIAN TRIBUNE