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Article 'EFCC, INTERPOL Hunt Down CBEX Fraudsters After ₦1.3 Trillion Ponzi Collapse'- Nigeria News
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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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CBEX, a digital asset trading platform, has collapsed, leaving Nigerian investors with losses estimated at ₦1.3 trillion. The scheme, operating without legal approval from the Nigerian Securities and Exchange Commission (SEC), promised high returns but has now been exposed as a Ponzi operation...
After a period of closure, Bola Tinubu International Airport (formerly Nnamdi Azikiwe International Airport) will resume full flight operations on April 23. The reopening comes after upgrades were made to the airport’s infrastructure, aimed at improving passenger experience and boosting air...
The Central Bank of Nigeria has directed banks and fintech firms to enhance their sanctions compliance systems, citing obligations under domestic and global anti-terrorism laws. Institutions must conduct real-time screening, update systems with global sanctions lists, and report suspicious...
Elon Musk reportedly offered $15 million to conservative influencer Ashley St. Clair to keep their child’s birth confidential. The offer included monthly support, but was declined over concerns about legal protections. After public disclosure, Musk allegedly reduced the payments despite...
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The EFCC has confirmed investigations into CryptoBank Exchange (CBEX), a collapsed platform accused of defrauding Nigerians of N1.3 trillion. Despite repeated public warnings, many fell victim to the scheme. The Commission is now working with Interpol to recover funds and bring the perpetrators...
Dangote Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) to N835 per litre, marking its third price cut in six weeks. This adjustment follows a decrease in international crude oil prices and aims to alleviate transportation costs and benefit Nigerian consumers.
Dangote...
The EFCC and INTERPOL have launched an investigation into the collapse of digital trading platform CBEX, which allegedly defrauded Nigerian investors of ₦1.3 trillion. The Ponzi-like scheme promised 100% returns in 30 days. Authorities warn the public to verify financial platforms and avoid...
![Today's Naira Rate [16-04-2025]: Naira Faces Further Pressure, Parallel Market Reaches N1,618/$1](/data/attachments/215/215509-87dc62d198b8ac06e97c3370bd87c039.jpg?hash=bRaHhFf4n0)
Nigeria
Today's Naira Rate [16-04-2025]: Naira Faces Further Pressure, Parallel Market Reaches N1,618/$1
The Nigerian naira depreciated to N1,604 per U.S. dollar in the official market. Despite challenges, stakeholders remain optimistic due to Central Bank reforms, which have boosted liquidity and investor confidence. Bureau de Change operators call for more interventions as the path to stability...
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Nigeria's inflation rate increased to 24.23% in March 2025, up from 23.18% in February. The rise was primarily driven by higher food and transport costs. Food inflation reached 21.79%, with significant price hikes in staples like garri, yam, and pepper.
Nigeria's inflation rate rose to 24.23%...
CBEX, a digital trading platform, allegedly swindled over N1.3 trillion from Nigerian investors after it locked withdrawal options and imposed verification fees. With funds transferred to an unknown TRX address, experts suggest it may be a Ponzi scheme. The Nigerian SEC has warned against...
Access Bank has acquired the National Bank of Kenya, enhancing its East African presence. With regulatory approvals in place, the acquisition strengthens Access Bank’s strategy for growth across Africa.
Access Bank PLC has successfully acquired the National Bank of Kenya (NBK) through a series...
Chaos erupted in Ibadan as furious investors looted the CBEX office following the platform's sudden collapse. The digital trading service reportedly wiped out account balances, sparking outrage. Authorities warn against unregistered financial schemes, while users demand justice and refunds amid...
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