Despite numerous warnings, the Cbex hype continues to attract Nigerian investors chasing quick returns with little regulatory understanding.
The Central Bank of Nigeria and the SEC have issued repeated alerts on investment risks tied to unlicensed digital asset schemes like Cbex. Yet, Cbex promoters keep spreading promises of wealth, manipulating hopes across YouTube clips like this one to gain trust.
Users, mostly youths, report instant sign-up offers and profit assurances without a traceable business model or official financial backing.
Some even flaunt “partnerships” with obscure firms, without legal documentation or authorization from Nigeria’s financial regulatory bodies.
Despite being listed on the EFCC’s wanted persons page, figures behind Cbex continue influencing online communities.
A recent tweet by SEC Nigeria warned the public to avoid unregulated platforms targeting low-income earners.
ALSO READ
Insiders believe poor financial education contributes heavily to the rise of these scams disguised as tech-powered investment innovations.
Many who invest don’t understand blockchain or crypto mechanics, making them vulnerable to empty buzzwords like “decentralized yield ecosystem.”
Despite mounting red flags, peer influence and testimonials keep fueling the illusion that Cbex is a revolutionary financial breakthrough.
Experts urge urgent public sensitization campaigns and tighter digital asset oversight to counteract ongoing exploitation and misinformation.
As of now, no official recovery pathway exists for individuals who lost money to this scheme or similar ones like it.
Until regulators enforce stronger action or arrests are made, promoters may continue repackaging Cbex under new names and strategies.
Adding more visible warnings, financial literacy programs, and policy crackdowns could help reduce trust in these shady operations.
Government agencies, influencers, and even religious leaders are now being called upon to spread awareness and prevent future financial losses.
