CBEX

CBEX Promoter, Adefowora Abiodun, Surrenders to EFCC

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One of the six Crypto Bridge Exchange (CBEX) promoters, Adefowora Abiodun, has voluntarily turned himself in to the Economic and Financial Crimes Commission (EFCC). CBEX, which described itself as a cryptocurrency trading platform, vanished after allegedly defrauding investors of over $1 billion, amounting to more than a million naira from individuals who were lured by … Read more

CBEX Crash: 60 Ponzi Investments to Avoid in Nigeria

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Thousands of Nigerians who invested in the now-collapsed Ponzi scheme, CBEX, are languishing in regret—despite similar schemes in the past and repeated warnings by Nigeria’s Securities and Exchange Commission (SEC) to steer clear of unregulated investments. MMM is a typical example. Then came Racksteli, promoted by the Nigerian singer Davido and former lawmaker Dino Melaye, … Read more