19 results
- 21 Apr 2025
EFCC Clarifies SCUML Certificate Misuse amid CBEX Ponzi Scheme Scandal
Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering,…
- 9 Jul 2025
Senate Orders Full Probe into N1.3 Trillion CBEX Ponzi Scandal
The Senate Wednesday launched a full-scale investigation into the operations of Ponzi schemes in the country. The development followed the catastrophic collapse of the Crypto Bullion Exchange (CBEX),…
- 11 Jun 2025
SEC Insists CBEX Ponzi Remains Banned in Nigeria
The Securities and Exchange Commission (SEC) has warned investors that Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd, also known as Smart…
- 13 May 2025
EFCC Tells Nigerians to Shun Ponzi Schemes Like CBEX, Others
Economic and Financial Crimes Commission (EFCC) has charged Nigerians to shun Ponzi schemes as many of such schemes have destroyed lives, eroded trust and undermined national development. Aisha…
- 9 Dec 2025
SEC Seeks Freeze of CBEX Accounts Over N1.3tn Ponzi Scheme
Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants…
- 5 Mar 2026
Senate Targets Fintech Overreach, Vows Ponzi Crackdown After ₦1.3trn CBEX Scam
Nigerian Senate has launched a public hearing to amend the Banks and Other Financial Institutions Act (BOFIA) 2020 while investigating rampant ponzi schemes, spotlighting the Crypto Bridge Exchange…
- 15 Apr 2025
Four Red Flags Nigerians Ignored until CBEX Crashed- DUBAWA
It has not been a pleasant week for thousands of Nigerians who have again fallen for another money scam. According to DUBAWA, a West African independent verification and fact-checking project,…
- 4 Aug 2025
SEC DG Warns as Crypto Adoption Rises in West Africa Without Proper Regulations
Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC) Nigeria, has said that West Africa is fast emerging as a global epicentre for virtual asset adoption, propelled…
- 3 Aug 2025
West Africa Emerging as Crypto Adoption Epicentre- SEC Boss
West Africa is fast emerging as a global epicentre for virtual asset adoption, propelled by a young, tech-savvy population and macroeconomic instability, according to Dr. Emomotimi Agama,…
- 23 Apr 2025
Nigerians Lose N4.8 Trillion to Scams Since 2016
Nigerians have lost N4.8 trillion ($2.99 billion) to various scams since 2016, according to findings by Paul Alaje, a prominent Nigerian economist and chief economist at SPM Professionals. This is…
- 10 Jun 2025
Concerned Nigerians Ask EFCC to Release Abiodun, CBEX Promoter
Adefowora Abiodun, one of the alleged promoters of the CBEX investment scheme, who voluntarily surrendered to the Economic and Financial Crimes Commission (EFCC) in April following a ruling by…
- 16 Apr 2025
EFCC Assures CBEX Investors of Fund Recovery Amid Investigation
Economic and Financial Crimes Commission (EFCC) has reassured investors affected by the collapse of the Crypto Bridge Exchange (CBEX) a digital trading platform that their funds will be recovered,…
- 18 Apr 2025
How CBEX Operators ‘Enticed’ Victims –SEC
Securities and Exchange Commission (SEC) says preliminary investigations revealed that Crypto Bridge Exchange, aka CBEX, engaged in promotional activities to create a ‘false perception of legitimacy’…
- 10 Jul 2025
EFCC Recovers Funds Lost to CBEX Fraud
Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme. Olukoyede did not announce the amount…
- 24 Apr 2025
Report Suspected Illegal Investment Schemes to SEC
Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investment schemes to the commission for proper investigation and necessary action. This is in the light…
- 30 Apr 2025
NFIU Alerts Nigerians of Rising Ponzi Schemes, Unregulated Crowdfunding Scams
The Nigerian Financial Intelligence Unit (NFIU) issued a detailed advisory on yesterday, warning Nigerians about the growing threat of Ponzi schemes and unregulated crowdfunding scams, particularly…
- 9 Dec 2025
SEC Urges IST to Freeze all CBEX Bank Accounts in Nigeria
The Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal (IST) to order the freezing of all bank accounts belonging to Crypto Bridge Exchange (CBEX) and other…
- 21 Apr 2025
SEC Cracks Down on Influencers, Bloggers Promoting Fraudulent Investment Schemes
Securities and Exchange Commission (SEC) has issued a stern warning to social media influencers, bloggers, and celebrities, urging them to desist from promoting unregistered and fraudulent investment…
- 14 Apr 2025
SEC Says CBEX, other Unregistered Digital Platforms are Illegal
Securities Exchange Commission (SEC) has charged all fintechs, cryptocurrency firms and exchanges to register with the commission. This is coming weeks after President Bola Tinubu assented the…