CBEX Scandal: Tension as Police, Amotekun take Over Investment Platform Office in Ibadan
- Operatives of the Nigeria Police Force (NPF) and Amotekun have taken action following investors' outrage after CBEX crashed
- The Police and Amotekun operatives took over the CBEX office at Oke-Ado in Ibadan, Oyo state capital
- Patrol vehicles belonging to the police and Amotekun were strategically stationed around the CBEX office in Ibadan
Legit.ng journalist, Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
Ibadan, Oyo state - Operatives of the Nigeria Police Force (NPF) and Western Nigeria Security Network, codenamed Operation Amotekun, have taken over the CBEX office at Oke-Ado in Ibadan, Oyo state capital.
This development was after angry investors stormed the CBECX office and looted valuable items on Monday evening, April 14, 2025.
Source: Facebook
Legit.ng recalls that some angry CBEX investors invaded the company and carted away some valuables after the platform crashed.
The CBEX investors forcibly entered the premises and carted away valuable items from the office.
It was gathered that many users were allegedly left with zero balance in their accounts after the platform crashed.
As reported by The Punch, patrol vehicles belonging to both the police and Amotekun were strategically stationed in the area.
An eyewitness said the outrage followed the announcement that the platform has crashed
“The crash of the online platform was announced yesterday (Monday). That’s what prompted many of those who invested in the scheme to storm the office to express their displeasure.
“As you can see, some security agents have been stationed at the office in order to prevent breakdown of law and order.”
CBEX collapses, traps trillions of naira
Earlier, Legit.ng reported that after days of trending on social media, CBEX, an investment platform, allegedly crashed .
Trillions of naira belonging to investors in several countries have been trapped on the platform.
While some Nigerians are lamenting on social media, some are said to have hit the streets, looting the CBEX office.
CBEX crash: Catholic priest makes observation
Legit.ng also reported that a Nigerian Catholic priest shared his observation about the alleged crash of CBEX, a digital assets trending platform.
Reverend Father Kelvin Ugwu, a Nigerian priest who is on a mission to the Gambia, said people do not want to be told the truth.
His comments come as people are alleging on social media that CBEX has crashed and that investors' funds are trapped.
Source: Original
Read more stories on CBEX:
- Expert Speaks on the Possibility of Investors Retrieving Their Funds From CBEX
- CBEX Crash: Lady Who Invested Her Business Capital in Trading Platform Weeps Bitterly
- CBEX Crash: Lady Who Used Her School Fees to Trade Cries Out, Shares How Much She Lost in Total
Former Buhari’s aide reacts as alleged CBEX collapse
Meanwhile, Legit.ng reported that former presidential aide, Bashir Ahmad, said the Securities and Exchange Commission (SEC) warned Nigerians against investing in CBEX.
Ahmad said Nigerians always ignore regulatory agencies' warnings whenever Ponzi schemes are introduced in the country.
Some Nigerians said the SEC should have shut down CBEX offices and stopped Nigerians from patronising them rather than issuing warnings.
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Source: Legit.ng
