₦airaland Forum

KingTom:

wan*

Theflint1:
wan*

in*

KingTom:

Inspector Bediako.

Our oga is asking for user feedback

https://www.nairaland.com/8398741/what-does-nairaland-need-right

KingTom:
in*

Lol

raumdeuter:
Our oga is asking for user feedback

https://www.nairaland.com/8398741/what-does-nairaland-need-right

Our oga na cruise.

This website na money making hobby at this point and he is obviously bored with it. I don’t think this is a genuine request, particularly in terms of follow through.

The bulk of suggestions that will significantly improve this website without necessarily changing its identify have been discussed in the past and nothing changed.

Ibime echoed some of my sentiments on the front page. Nothing will come of this. Except when he is under serious pressure from influences beyond his control, our Oga no send.

WhoDeyHause:
Baba God just dey save poor man from many things. Where I wan see money invest for cbex?

That money no small at all

iamoyindamola:
No be juju be that
Now they are crying on X and tictok, dead body go surplus because the money people are losing is much o because it's in $

I even thought the whole thing was a cruise when I started seeing posts on Twitter talking about CBEX and people losing their money to it.

But now after seeing people having meltdown on Twitter about losing substantial sums ; I know people wey wise for this country no plenty at all.

Just go through this thread to laugh at people's stupidity and eventual gnashing of teeth

Please if you have videos like this one, reply with it. I wan laugh abeg. pic.twitter.com/h5Z3SjfArf

— Alabi (@the_Lawrenz) April 14, 2025

[quote author=BlueRayDick post=134989688]I even thought the whole thing was a cruise when I started seeing posts on Twitter talking about CBEX and people losing their money to it.

But now after seeing people having meltdown on Twitter about losing substantial sums ; I know people wey wise for this country no plenty at all.

Just go through this thread to laugh at people's stupidity and eventual gnashing of teeth

Please if you have videos like this one, reply with it. I wan laugh abeg. pic.twitter.com/h5Z3SjfArf

— Alabi (@the_Lawrenz) April 14, 2025

not cruise at all, the word on the streets is cbex is scamming yahoo boys and influencers
We have plenty stupid people in this country, they went from millionaire to nothing

iamoyindamola:
That money no small at all

They said this guy allegedly lost $180k.

Something tells me most of the funds lost to this CBEX scam may most likely not be hard earned money from clean sources. Why on God's earth will I have anything above $50k and I will put it in any scheme that has no government security backing?

There are loads of low risk investment options u can put such amount of money and u will be earning steady passive income. Like u will just be telling Ur financial advisor to roll over every investment cycle?

A friend of mine who once worked in a finance house told me about some of their customers who have investments in excess of N100m who sometimes get as much as N2m to N3m on a monthly basis as interest. They just collect the interests regularly and ask the company to roll over the investment again.

I believe most people in this CBEX scam na people who think they are so wise and can always find ways to double their money outside the traditional finance system

iamoyindamola:
It's not cruise at all, the word on the streets is cbex is scamming yahoo boys and influencers
We have plenty stupid people in this country, they went from millionaire to nothing

Oh, more like the CBEX people picked a demography of people whom they know will not be able to come after them legally. And even if they shout from now till tomorrow, the government will not be able to fight on their behalf because of the source of the funds lost.

Now I get.

It's just some innocent people too who have the get Rich quick syndrome will lose legit funds in the process. Especially people who changed naira to dollars in order to join "the moving train"

BlueRayDick:
They said this guy allegedly lost $180k.

Something tells me most of the funds lost to this CBEX scam may most likely not be hard earned money from clean sources. Why on God's earth will I have anything above $50k and I will put it in any scheme that has no government security backing?

There are loads of low risk investment options u can put such amount of money and u will be earning steady passive income. Like u will just be telling Ur financial advisor to roll over every investment cycle?

A friend of mine who once worked in a finance house told me about some of their customers who have investments in excess of N100m who sometimes get as much as N2m to N3m on a monthly basis as interest. They just collect the interests regularly and ask the company to roll over the investment again.

I believe most people in this CBEX scam na people who think they are so wise and can always find ways to double their money outside the traditional finance system

That's what I told the idiot that wanted to drag me into this shit, I told him no investment can give you 100% profit unless it's illegal
I feel the government are not doing well too, they only react when it's late

May God no let my siblings or I behave like these psquare brothers
If you can blow whistle and even testify against your brother then they can kill each other

BlueRayDick:
Oh, more like the CBEX people picked a demography of people whom they know will not be able to come after them legally. And even if they shout from now till tomorrow, the government will not be able to fight on their behalf because of the source of the funds lost.

Now I get.

It's just some innocent people too who have the get Rich quick syndrome will lose legit funds in the process. Especially people who changed naira to dollars in order to join "the moving train"

Yes but the innocent people are rather unfortunate, I know someone that lost his money and the profit about $5500

iamoyindamola:
That's what I told the idiot that wanted to drag me into this shit, I told him no investment can give you 100% profit unless it's illegal
I feel the government are not doing well too, they only react when it's late

What can the government do in this case?

Everything about the investment is done on an app and telegram groups. Shey make government dey hack the apps and telegram groups ni?

If government do that I'm sure we will fault the government for wielding illegal powers. You will be surprised at how sowore and professional activist will stage protests after protest for the government to allow people do whatever they want either money. The whole thing will take a politico turn sharply.

I think the relevant government agencies like CBN and SEC have always warned that all ponzi schemes are organized scams that will end in gnashing of teeth of "investors". But people no dey hear Noni

Shegzdave:
It’s more of greed cause how will someone promise to give an 100% profit on your capital/investment in a short period of time and you agreed

It's not greed, it's just ignorance and being very gullible, on the part of many Nigerians. And, it is exactly what many Nigerians are, very, gullible and ignorant.

BlueRayDick:
What can the government do in this case?

Everything about the investment is done on an app and telegram groups. Shey make government dey hack the apps and telegram groups ni?

If government do that I'm sure we will fault the government for wielding illegal powers. You will be surprised at how sowore and professional activist will stage protests after protest for the government to allow people do whatever they want either money. The whole thing will take a politico turn sharply.

I think the relevant government agencies like CBN and SEC have always warned that all ponzi schemes are organized scams that will end in gnashing of teeth of "investors". But people no dey hear Noni

SEC came out yesterday to say cbex is not registered, immediately people were investing I am sure they hear and know about it
That is when they should be singing that it's not registered, they left it took late

BlueRayDick:
What can the government do in this case?

Everything about the investment is done on an app and telegram groups. Shey make government dey hack the apps and telegram groups ni?

If government do that I'm sure we will fault the government for wielding illegal powers. You will be surprised at how sowore and professional activist will stage protests after protest for the government to allow people do whatever they want either money. The whole thing will take a politico turn sharply.

I think the relevant government agencies like CBN and SEC have always warned that all ponzi schemes are organized scams that will end in gnashing of teeth of "investors". But people no dey hear Noni

Actually, the FG, did exactly that during the MMM saga. I remember how many Nigerians started attacking the government abusing them that they don't want the common man to be rich like them, bla bla bla. At the end of the day, the result was sorrow, tears and money down the drain.

To me, I believe it's their fundamental human right to throw their money into any illegal or even legal business they want to, after all, who will end up crying and losing. Lol

BlueRayDick:
Oh, more like the CBEX people picked a demography of people whom they know will not be able to come after them legally. And even if they shout from now till tomorrow, the government will not be able to fight on their behalf because of the source of the funds lost.

Now I get.

It's just some innocent people too who have the get Rich quick syndrome will lose legit funds in the process. Especially people who changed naira to dollars in order to join "the moving train"

Maybe it's me, but it looks like this cbex was completely under the radar. The ones before it, one heard of them because there was always someone who wanted you to join in. I am inclined to agree with you. In this case they focused on a demographic. Probably sold it as elite investment.

It is the old school yahoo boys who were actually intelligent imho. Most of these ones today are simply running templates and hoping to get lucky.

iamoyindamola:
SEC came out yesterday to say cbex is not registered, immediately people were investing I am sure they hear and know about it
That is when they should be singing that it's not registered, they left it took late

But na WA oh. People will just sit in their houses, and cook up ways to scam ignorant and gullible Nigerians, and voila! It normally works. Here I use to think religion is the only way Nigerians can be scammed off their hard earn money. Lol

ShaqFu:
Actually, the FG, did exactly that during the MMM saga. I remember how many Nigerians started attacking the government abusing them that they don't want the common man to be rich like them, bla bla bla. At the end of the day, the result was sorrow, tears and money down the drain.

To me, I believe it's their fundamental human right to throw their money into any illegal or even legal business they want to, after all, who will end up crying and losing. Lol

There was this dude attached to me on a project. In 2014 to 2016. Site engineer. Guy bought into MMM. The way the guy believed in mmm ehn. He was so fervent. December 2015 (I think) when they did their rug pull the guy was telling me confidently and with conviction they will be back. When you see the faith of some of these marks you will almost start to think you are the one missing out.

iamoyindamola:
SEC came out yesterday to say cbex is not registered, immediately people were investing I am sure they hear and know about it
That is when they should be singing that it's not registered, they left it took late

SEC from time to time have always maintained that ponzi schemes in general are organized scams. I know this from a young age reading The News magazine where they talked about " wonder banks" in the late 1990's and early 2000's.

SEC cannot be coming out evwrytime a new pnzi scheme comes to town na

ShaqFu:
But na WA oh. People will just sit in their houses, and cook up ways to scam ignorant and gullible Nigerians, and voila! It normally works. Here I use to think religion is the only way Nigerians can be scammed off their hard earn money. Lol

As in they were patient, they planned the whole thing and timed it
Some still believe cbex have not crash, they said something like this happened last year and they were compensated with bonuses🤣🤣🤣
Cunny man die cunny man bury am

BlueRayDick:
SEC from time to time have always maintained that ponzi schemes in general are organized scams. I know this from a young age reading The News magazine where they talked about " wonder banks" in the late 1990's and early 2000's.

SEC cannot be coming out evwrytime a new pnzi scheme comes to town na

Experience is the hardest kind of teacher. It gives you the test first and the lesson afterward.

This is literally how 90% of people will learn. Ponzi died over 100 years ago, but his legacy is alive and well and taking in suckers who refuse to understand basic maths.

BlueRayDick:
SEC from time to time have always maintained that ponzi schemes in general are organized scams. I know this from a young age reading The News magazine where they talked about " wonder banks" in the late 1990's and early 2000's.

SEC cannot be coming out evwrytime a new pnzi scheme comes to town na

I think this is where the ignorance play it part
Many that invested didn't know it's a ponzi because they feel ponzi works with referrals and it's not compulsory to bring in people in cbex

iamoyindamola:
As in they were patient, they planned the whole thing and timed it
Some still believe cbex have not crash, they said something like this happened last year and they were compensated with bonuses🤣🤣🤣
Cunny man die cunny man bury am

This is EXACTLY what that guy was saying. MMM will be back.

GloriousGbola:
There was this dude attached to me on a project. In 2014 to 2016. Site engineer. Guy bought into MMM. The way the guy believed in mmm ehn. He was so fervent. December 2015 (I think) when they did their rug pull the guy was telling me confidently and with conviction they will be back. When you see the faith of some of these marks you will almost start to think you are the one missing out.

As in ehn. It's same with a friend of mine also, he was so confident, especially as his chic was one of the guilders (or whatever they were called) in MMM back then. Babe went from Iya Biliki's daughter, to classy chic and dumped my guy with the speed of light.

Dude was almost obsessed that MMM will be back, as if he's waiting to use it for his revenge of being dumped. Lol

ShaqFu:
Actually, the FG, did exactly that during the MMM saga. I remember how many Nigerians started attacking the government abusing them that they don't want the common man to be rich like them, bla bla bla. At the end of the day, the result was sorrow, tears and money down the drain.

To me, I believe it's their fundamental human right to throw their money into any illegal or even legal business they want to, after all, who will end up crying and losing. Lol

Ponzi schemes generally work on a principle that has always worked with the Nigerian people : Ponzi schemes will have you believe that the traditional banking and financial system is designed to make you poor. They make you believe whatever interest rate your normal investment in the Nigerian banking and financial system will give, you can get multiple of it in their scheme but the government and it's agencies don't want that for you

Once they have people believing this, they will offer ridiculous ROI that defies logic. They will see that for example Treasury bills backed by government will give you 18.5% interest rate per annum, then they will offer you 30% interest rate within a month. Do you know how crazy that is? You leave you money with them for 30 days and get 30% ROI ; meanwhile the FG backed investment expects you to leave your funds with government for a whole year and get 18.5% interest in return.

The average greedy Nigerian thinks it is a risk that is worth taking but they will later learn the hard way.

GloriousGbola:
This is EXACTLY what that guy was saying. MMM will be back.

I remember MMM, that shit turned friends to enemies but do you know before MMM there was one money doubling company in lagos.
I was young then, Shogun di ogoji I remember they will collect cash and tell you to come back the following week to take your return, they did it till they japa with people's money

GloriousGbola:
Maybe it's me, but it looks like this cbex was completely under the radar. The ones before it, one heard of them because there was always someone who wanted you to join in. I am inclined to agree with you. In this case they focused on a demographic. Probably sold it as elite investment.

It is the old school yahoo boys who were actually intelligent imho. Most of these ones today are simply running templates and hoping to get lucky.

I also found out about the CBEX thing only about 2 weeks ago when it was already having problems. I think they targeted yahoo boys and all those crypto boys. It was done majorly on telegram and WhatsApp groups.

It was only when they were having issues they started bringing it to Twitter to discuss about it possibly going the way of MMM. They really picked their victims out.

iamoyindamola:
I think this is where the ignorance play it part
Many that invested didn't know it's a ponzi because they feel ponzi works with referrals and it's not compulsory to bring in people in cbex

Anything that offers u ridiculous Return On Investment (ROI) which u can't find in the open market is a ponzi scheme.

When they start offering you ridiculous ROI, your church or mosque or shrine mind supposed make you ask questions : Where is the interest they are offering coming from?

Once you can't get a logical and satisfying answer, you should know what will come afterwards.

BlueRayDick:
Ponzi schemes generally work on a principle that has always worked with the Nigerian people : Ponzi schemes will have you believe that the traditional banking and financial system is designed to make you poor. They make you believe whatever interest rate your normal investment in the Nigerian banking and financial system will give, you can get multiple of it in their scheme but the government and it's agencies don't want that for you

Once they have people believing this, they will offer ridiculous ROI that defies logic. They will see that for example Treasury bills backed by government will give you 18.5% interest rate per annum, then they will offer you 30% interest rate within a month. Do you know how crazy that is? You leave you money with them for 30 days and get 30% ROI ; meanwhile the FG backed investment expects you to leave your funds with government for a whole year and get 18.5% interest in return.

The average greedy Nigerian thinks it is a risk that is worth taking but they will later learn the hard way.

The Hard Way (The Only Way) I remember that movie. Lol.

Beside, traditional banking system is actually designed to make the poor, poor. If I leave my 5OK for one year in the bank, how much interest will the bank pay? But with Ponzi schemes... Lol.

Like I said, these schemes bank on the ignorance and gullibility of Nigerians, and it works like magic.