•EFCC national headquarters Abuja The Economic and Financial Crimes Commission (EFCC) has handed over N96.5 million to victims of ponzi schemes in Enugu State. Its spokesperson, Dele Oyewale, said this in a statement yesterday in Abuja. Oyewale said the step was in line with the anti-graft agency’s commitment to combating economic and financia...
•Securities and Exchange Commission DG Adama The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has warned Nigerians to stay alert and be wary of patronising online platforms that promise too-good-to-be-true financial returns. Agama, who was a guest on Channels Television today, listed some qualities to watc...
•Ponzi scheme fraud Investing is one of the best ways to grow your money, but it also comes with risks, especially when scammers are involved. One of the most dangerous and common scams today is the Ponzi scheme, reports Nigerian Tribune. It looks like a normal investment at first, but it’s a trap that uses […]
•Prison This report explores how the enactment of the Investment and Securities Act (ISA) 2025 not only sanitises the financial sector but may also be the end of the journey for ponzi schemes in Nigeria, reports Nigerian Tribune. On March 31, President Bola Ahmed Tinubu signed into law the Investment and Securities Act (ISA) 2025, […]
Several Nigerian women have been seen breaking down in tears after reportedly losing millions of naira to CBEX, a digital trading platform that recently crashed. According to circulating reports, the platform became inaccessible after users experienced difficulties withdrawing their funds, reports The PUNCH. Many later discovered that their ac...
Tensions boiled over in Ibadan last night as furious investors stormed and looted the office of CBEX, a once-popular cryptocurrency and forex trading platform, amid allegations of a large-scale investment fraud. The unrest broke out in the Oke-Ado area of Ibadan, Oyo State, where videos circulating on social media showed enraged individuals ca...
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