Officers from the Nigeria Police Force and the Western Nigeria Security Network, popularly known as Amotekun, were deployed to the CBEX office to prevent a potential breakdown of law and order.
Security agents on Tuesday besieged the office of CBEX, a Ponzi scheme in Ibadan, Oyo state capital, following the crash of the investment platform.
Officers from the Nigeria Police Force and the Western Nigeria Security Network, popularly known as Amotekun, were deployed to the CBEX office to prevent a potential breakdown of law and order.
Multiple patrol vehicles were parked in front of the office, located in a commercial area of the state capital, as security operatives kept watch to deter aggrieved investors from storming the premises further.
The move followed growing unrest among CBEX investors who lost significant sums after the platform suddenly went offline and ceased operations without explanation.
SaharaReporters earlier reported that following the collapse of the trading and investment platform, a group of angry individuals looted the CBEX office in Ibadan.
The incident occurred on Monday evening. The individuals attacked the CBEX office in the Oke-Ado area of Ibadan.
Some of the items carted away included furniture and other office equipment.
According to eyewitnesses, the mob forcibly entered the premises, taking tables, couches, and other office items.
The attack was triggered by the platform’s sudden collapse, which allegedly left many users with zero balances in their accounts.
Following the incident, several users expressed frustration and grief over losing their investments, with some taking to social media to share their experiences.
Earlier, the Securities and Exchange Commission (SEC) responded to the operations of such schemes, stating that any such platform not registered with the SEC is considered illegal.
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 patronising unregistered platforms.
SAHARA REPORTERS
Comment here
You must be logged in to post a comment.