See the names and faces allegedly behind the crashed CBEX

• The Nigerian Securities and Exchange Commission has disclosed that the collapsed Ponzi platform, CBEX, was not registered to run successful the integer plus space
• The committee disclosed that CBEX and its affiliates were approved successful Nigeria, but operated with a committedness of a speedy instrumentality connected investment
• However, net searches identified names and persons allegedly down the collapsed platform, disappearing with implicit N1 trillion of investors' money

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

Following the illness of the Ponzi scheme, CBEX, the Nigerian Securities and Exchange Commission (SEC), warned that the level was not registered and had nary licence to operate.

The SEC clarified that neither CBEX nor its affiliates were approved by the committee to run arsenic a Digital Assets Exchange, solicit investments from the nationalist oregon execute immoderate different relation successful the Nigerian superior market.

EFCC vows to ace down connected CBEX promoters arsenic SEC disowns platform. Credit: Novatis
Source: Getty Images

SEC denies CBEX and its affiliates

The committee disclosed that its probe shows that CBEX engaged successful promotional activities, creating a mendacious representation of legitimacy to lure gullible investors with a committedness of bogus returns wrong a abbreviated time.

The superior marketplace regulator said CBEX failed to honour withdrawal requests from investors and abruptly closed their carnal offices.

CBEX embarks connected media campaign

However, pursuing publically disposable information, an investigative platform, the Foundation for Investigative Journalism (FIJ), tracked the alleged individuals who were publically identified arsenic leaders and promoters of CBEX.

CBEX was partially launched successful Nigeria, embarking connected a media blitz betwixt January 27 and 28, and positioning itself arsenic a reliable concern platform.

Findings amusement that Harold David Charles emerged arsenic the person of the IT Investment Co. Ltd, the genitor institution of CBEX.

CBEX’s CEO identified

In a publication successful a nationalist regular connected January 28, Charles was named the CEO with 14 years of acquisition successful the fiscal industry, creating insights into marketplace trends, and starring CBEX to ‘innovate and marque breakthroughs successful the concern field.’

“CEO Harold David Charles played a captious relation arsenic the helmsman. With 14 years of affluent acquisition successful the fiscal industry, helium has close insights into marketplace trends and leads the institution to continuously innovate and marque breakthroughs successful the concern field,” the study said.

According to CBEX, it established a strategical concern with CryptoBridge Exchange. 

CBEX was floated and promoted by ST Technology International, which was registered with the Corporate Affairs Commission (CAC), and fixed an anti-money laundering certification by EFCC’s Special Control Unit Against Money Laundering (SCUML) connected January 26, 2025.

It had different affiliates specified arsenic Smart Treasure and Super Technology, maintaining consistency with the initials, S.T.

Names down CBEX

FIJ reported that down CBEX were names similar Adefowora Abiodun and Oluwanisola Adefowora, leaders and representatives of the Ponzi scheme.

Others see Seyi Oloyede and Emmanuel Uko, who are identified arsenic members of the CBEX.

Abiodun introduced CBEX to Nigerians connected February 10, 2025, successful its Abuja office.

He said:

“I americium introducing this level to you again. It is called the ST CBEX platform, wherever we commercialized each day, we marque money, and we unrecorded a bully life. We promote our people, and we besides bring radical onboard truthful that you don't request to marque wealth [alone], you don’t request to unrecorded a bully beingness [alone]. Tell radical astir it. Let radical know, fto them travel onboard and bask life.”

According to net searches, different idiosyncratic progressive with and promoted CBEX was Temitayo Oke, a cardinal promoter successful Ibadan, whose Facebook page was identified arsenic the Oklet CBEX ST Team group.

FG moves to prosecute Ponzi strategy operators amid CBEX collapse. Credit: NurPhoto/Contributor
Source: Getty Images

Checks showed that the leafage promoted CBEX activities passionately until March 13, 2025, erstwhile problems surfaced successful the Ponzi scheme.

CBEX: Expert's usher to withdrawing your money

Legit.ng earlier reported that galore Nigerian investors mislaid their beingness savings aft CBEX, an unsecured and unregistered integer trading platform, crashed connected Monday, April 14, 2025.

A erstwhile Legit.ng study disclosed that the level became unavailable and inaccessible to users seeking to retreat their funds connected Tuesday, April 15, 2025, starring to the content that it had crashed.

Before the clang connected Monday, April 14, 2025, the level had prided itself arsenic a high-yield concern firm, promising investors a 100% instrumentality wrong a month.

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Source: Legit.ng