INVESTORS LAMENT, COUNT LOSSES AS THEY GATHER AT CBEX LAGOS OFFICE IN OREGUN (PICTURES)
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By Motunrayo Aniwura
Tensions flared on Tuesday at the Cbex Online Trade office located at Oremeta, off the Oregun link bridge in Ikeja, Lagos, as aggrieved investors gathered in confusion and frustration following the platform’s sudden collapse.
According to eyewitness reports and multiple accounts from distressed traders, the office was a scene of chaos as users who had committed substantial sums to the online trading platform expressed outrage over blocked withdrawals, unresponsive customer service, and alleged manipulation of their accounts.
“I was told over the weekend that the minimum investment threshold had changed to between $1,000 and $1.5 million,” said one investor. “That’s when I became suspicious. I warned my friends to withdraw immediately—only to realize it was already too late. Withdrawals had been locked.”
“They told us they were upgrading their software and fixing losses,” one victim said. “But the truth is, they can’t pay out anymore. They’ve over-promised returns, and now the system is collapsing under its own weight.”
Numerous users described rapid deductions in their profit and loss records, suspicious trading activity, and unexplained charges to their accounts. “They were making more money than us,” one trader lamented. “And now, they can’t even return our capital, let alone the profits.”
A scheduled briefing with company staff was said to be held at 2:00 p.m., but reports suggest no official addressed the agitated crowd. Online groups and Telegram forums linked to the platform have since been flooded with angry messages and withdrawal requests.
As the fallout from the alleged trading platform scam continues to unfold, investors are not only grappling with financial losses, but also with growing emotional distress, confusion, and fear.
Some investors alleged that they were advised the platform was undergoing “technical upgrades,” which justified frozen accounts and delayed withdrawals. “They said since last week Thursday, people won’t be able to withdraw,” one person recounted.
The crisis, which began with suspicious withdrawals and hidden losses, has now escalated into a tangled web of legal, emotional, and logistical battles. Community members are demanding justice, transparency, and urgent intervention.
As of now, there is no formal statement from the platform in question. Meanwhile, legal and financial professionals are urging victims to document all transactions, avoid vigilante actions, and report to appropriate authorities.
Cbex has not released an official statement regarding the crisis. Meanwhile, concerned investors are calling for urgent regulatory intervention and are urging others to stay away from any further deposits.
Authorities are being urged to investigate the company’s operations, particularly its withdrawal restrictions and alleged misrepresentation of trading risks.
This development comes amid growing concerns over unregulated online investment platforms and underscores the rising number of Nigerians falling victim to digital financial scheme
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