When CBEX, a digital asset trading platform, emerged with promises of 100% return on investment within a month, many Nigerians, worn down by economic hardship, saw it as a lifeline. But that hope turned into heartbreak when the platform collapsed, resetting user account balances to zero and leaving behind a trail of emotional and financial ruin.
In a country grappling with rising inflation, high unemployment, and limited economic opportunities, desperation often drives risky decisions.
For many Nigerians, CBEX seemed like a legitimate way to escape poverty. Investments were made in U.S. dollars, and the returns were said to be quick and life-changing. But the collapse proved otherwise.
The crash of CBEX is not the first of its kind. From MMM to more recent digital scams, Nigeria has a history of Ponzi-style schemes exploiting financial desperation.
In the end, the true cost of the CBEX crash isn’t just the money lost — it’s the trust broken, dreams shattered, and the desperation that led so many down a path of regret.
READ ALSO: Refusing to trace CBEX funds is economic/security sabotage
According to him, the state pardon for 66 inmates was in line with the constitutional…
At least 16 AK-47 rifles and other weapons have been recovered in Delta State between…
In a groundbreaking series of stakeholder engagements across the Niger Delta, communities, traditional leaders, civil…
Kano Governor, Abba Kabir Yusuf, has commended emergency agencies for their swift response in averting…
97-year-old Kogi monarch, the Obalohun of Okoloke, Oba James Dada Ogunyanda has regained his freedom…
Also, progress by promoting economic growth, social justice, and human development as well as accountability…
This website uses cookies.