Hundreds of Nigerians were thrown into emotional turmoil on Tuesday as CBEX, a once-popular digital investment platform, abruptly collapsed—wiping out users’ account balances and locking access to the platform.
Reports suggest that investors have lost more than N1.3 trillion, marking what could be one of the country’s most devastating financial crashes in recent times.
Those observing on social platforms like X day the platform’s sudden shutdown followed persistent withdrawal failures experienced over the past few days.
However, the shocking development has triggered a wave of public outrage and sorrow, especially on social media platforms, where devastated users have flooded timelines with stories of losses, regrets, and disbelief.
On X (formerly Twitter), the user @edoPeekeen wrote, “Even pipul wey no get anything to do with CBEX dey cry too… 9ja don tire person to the extent person nor know who dey lie again. Chai.”
Another user, H @Eskimoh_, chimed in with a cautionary note: “No one rule of investment states, ‘Never invest any amount you can’t afford to lose.’ A lot of people need financial literacy, and the sad story is the government will never add that to school subjects.”
On Facebook, Chinenye Nduka shared a more personal angle: “My brother invested his school fees and now he can’t even face my parents. God, this country keeps dealing with us.”
The PUNCH had earlier reported that users began noticing signs of trouble when their withdrawal requests failed repeatedly, only for account balances to be wiped clean shortly afterward. The CBEX website and app have remained inaccessible since then, fueling suspicions of a total shutdown.
