The recent collapse of CBEX, a digital asset trading platform accused of disappearing with over ₦1.3 trillion, has once again laid bare the growing exposure of Nigerians to fraudulent investment schemes.
CBEX lured thousands of investors with the promise of a staggering 100% return on investment in just 30 days. But like many similar schemes before it, the platform abruptly shut down, leaving users unable to access their funds.
Though CBEX made headlines, the pattern is far from new. Ponzi schemes have long exploited the economic anxieties of Nigerians, thriving on the public’s desire for fast and easy wealth.
Read Also: EFCC collaborates Interpol in N1.3tn CBEX probe
Here is a list of some of the most infamous Ponzi schemes that swept across Nigeria over the years, leaving behind tales of broken trust and financial ruin:
- MMM
- Twinkas
- Ultimate Cycler
- Givers Forum
- I-Charity
- Crowd Rising
- Clarrita
- Smile2Charity
- Help2Get
- Get Help World Wide
- Donation Hub
- Wales Kingdom Capital (WKC)
