Video: Investor Reveals Strange Scene At Cbex Office Hours Before Collapse

A Nigerian man named Timi Trey has shared his personal experience visiting the Cbex office in Lagos just a few hours before the digital platform reportedly collapsed.

In a video posted online, Timi documented his visit to the office located in the Egbeda area of Lagos State, showing both the interior and exterior of the building.

According to him, the ground floor of the office appeared mostly empty. He suspected that the building was recently bought and renovated. During his visit, he noticed that many people present were adults over the age of 40, and they were being served cold bottled water.

Timi explained what influenced his decision to invest in the platform. “What really convinced me to sign up was this EFCC registration anti-money laundry. I don’t know how genuine it is, and Lagos State business registration for trades and investments. This convinced me the first time I came,” he said.

Despite the polished appearance and the certificates on display, the legitimacy of Cbex has been widely questioned. Some users online have called it a Ponzi scheme disguised as a digital assets trading platform. A search on the Securities and Exchange Commission (SEC) website did not list Cbex among registered operators, and the SEC had previously warned Nigerians against dealing with unregistered platforms.

The man’s post sparked many reactions. One user claimed, “The certificates are real, cus I check to confirm it online b4 I join. I was wondering what the government are doing about it cus they give the certificate.” Another commented, “Ah this building is in my area oo. I use to wonder what they are doing there.”

A few people expressed regret over investing. “I swear, it looked so real. This is my first time doing something like this. I regretted,” one user said. Another added humorously, “They give una cold bottle water to take cool the heat they were planning to release.”

Other online users questioned the process of issuing certificates to platforms like Cbex. “Before any agencies could issue any certificates, they should have done their due diligence. But the way we do things in Nigeria is very unprofessional honestly,” said one person.

In a related story, a Nigerian lady reportedly used her school fees to invest in Cbex and was later seen crying over her loss. These developments have drawn even more attention to the rise of questionable online investment platforms across Nigeria.

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