₦airaland Forum

ppogba:
Greed is an honorable word. Rather it is stupidity.

Is it not amazing that people are poor and stupid at the same time?

Not everyone that did that is poor. Can a poor person afford millions of naira?

CBEX causes pain IBEX keels pain...... All victim of CBEX should take IBEX

l don build my own
make i come find promoter
abeg if you get promotion leg, link up for 50 50 deal

Ppl should stop saying greed. In 2025 only in Nigeria will they say someone was scammed Nigerians of trillions vanishes. But if it is an American that was scammed EFCC will produce the scammer.
Business is about profit. Is profit greed? There are people that go into different businesses and profits differ.
Let's greed mentioning be stopped. This same thing happened in America and the man behind it got arrested , lost his wealth and died in prison. But in Nigeria the victims are blamed. I have never been a victim of this Ponzi scheme. Why? I don't go into things I don't understand even if money is being made there. Do you hear of such in America against? But in Nigeria it continues and won't stop because the victims are called greedy and the scammers are called ghosts. This newspaper shaaa.

I still don't get it forex and crypto trading are lazy people's work?
I don't think so. I think what happened was just Nigerian factor. Forex and crypto are businesses legal all over the world. People trade them everyday.

Recently, bybit, one of the big players suffered losses by hackers.
CBEX may be a scam but trading crypto or platforms doing it are not all scams.

Watianoengineer:
The only key to financial freedom is hard work. Betting, ponzi and other funny schemes can only guarantee you continuous loses.

What about investing in Stocks??

Clean2016:
There's PCEX also that has stolen people money but somehow people are quiet

This one don fold?

rub it in...

i love it

Clean2016:
There's PCEX also that has stolen people money but somehow people are quiet

wetin you want make dem talk again na?
na double impact for many greedy people

There are many more still operating, but people won't learn

AerialMapper:
What people need to realise :

Being registered with CAC doesn't confer legitimacy, as long as your Memorandum of Articles doesn't contain prohibited activities, they'll register you.

Having a SCUML certificate means nothing. Once certain keywords or business ventures are listed in your Memart, you will be required to register for SCUML in order to have a bank account. EFCC does nothing more that sit you down for a lecture, a director signs and your certificate is issued.

Even being registered with SEC means nothing! These are the regulatory body for capital market operators but even registering with them doesn't guarantee you that you are dealing with genuine market operators. They will not protect your investment.

In the end, you only have your brain and commonsense to guide you. Once it sounds too good to be true, RUN away! Even the safest investment,l which are treasury bills backed with the full faith of the FG cannot give you 100% in 30-40 days! No business venture can do this and even if they could, ask yourself why they aren't just turning over their own funds and enjoying the wealth themselves!
End of comment

But questions should be asked on why despite CBEX's public solicitations for clients, the regulators turned a blind eye to their fraudulent activities. Where were EFCC, SEC , CAC and the rest? Nigeria is a country with corrupt and weak institutions. Institutions that were created and meant to protect the masses ...and here we're, blaming the victims that were swindled. Not everyone is financially intelligent. The world will always have dumb and weak people. Protecting the weak and gullible is the hallmark of a functional society.

I have no pity for such people

Even ADK already changed its name ...
They will still fall for it for some months.

jiz:
Motivational speaker

This is not motivational talk,it is the truth, infact it's those that listen to motivational speech that usually fall for a scam like cbex.

Arlee:
But,wait,what's really the difference between ponzi and tithe?

Lmao.

Our resident Christian evangelists are not ready to have this conversation. 🤣🤣

deltateam:
Not everyone that did that is poor. Can a poor person afford millions of naira?

I never said every one that partook is poor.

It is far more permissible to be rich and stupid at the same time.

For the poor, eating from hand to mouth, that is nothing but criminal.

Watianoengineer:
The only key to financial freedom is hard work. Betting, ponzi and other funny schemes can only guarantee you continuous loses.

What's hardwork? Give example

Hardwork ko diework ni

Walai:
A country with very low IQ a little above that of chimpanzee.
Look at the choices they make during election. Accepting 10k for 4 years of suffering.
Take a look at their values celebrating impunity and criminality over hard work and integrity .
A country whose youths think using people for rituals and mining skvlls of dead bodies will bring wealth.
A country where the average girl prefers prostitution now code named hook up to learning a skill and working hard to live a meaningful life
It's all fvcked up here.

So apt! You couldn't have said it better enough.

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

Very informative article. Values have been eroded by this get rich quick notions. It's why many Nigerians don't want to work hard. Many people are very gullible. Once someone posts pictures with Louis Vuitton bag and wads of dollars in hand, people will start "dreaming and tapping". The next thing is to look for how to "hammer" sharp sharp. Reorientation is needed about the values of hard work,especially for the next generation.

Arostar2023:
But questions should be asked on why despite CBEX's public solicitations for clients, the regulators turned a blind eye to their fraudulent activities. Where were EFCC, SEC , CAC and the rest? Nigeria is a country with corrupt and weak institutions. Institutions that were created and meant to protect the masses ...and here we're, blaming the victims that were swindled. Not everyone is financially intelligent. The world will always have dumb and weak people. Protecting the weak and gullible is the hallmark of a functional society.

Some people don't just have empathy.

Example of people that are weak or gullible in our society are;
1. Women
2. Children
3. People with disabilities
4. Animals
5.

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

Thanks for sharing this

The con-artists certainly preyed on both their victims' greed and their ignorance of the several "exotic" terms used in the "offer".

Well, let's all be vigilant: if any investment "opportunity" sounds too good to be true, it probably is...

Arostar2023:
But questions should be asked on why despite CBEX's public solicitations for clients, the regulators turned a blind eye to their fraudulent activities. Where were EFCC, SEC , CAC and the rest? Nigeria is a country with corrupt and weak institutions. Institutions that were created and meant to protect the masses ...and here we're, blaming the victims that were swindled. Not everyone is financially intelligent. The world will always have dumb and weak people. Protecting the weak and gullible is the hallmark of a functional society.

5 years ago I was a victim. I lost 12m in three of these schemes. One of them was even registered with SEC but it made no difference. Today's victims have learned the hard way but guess what, some had heard of these past schemes and still went in. Some never did and have learned the hard way but you know what.. In a few years time, a new scheme will come and do the same thing some people will learn lessons.

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

Let them continue to swim in their folly...they just don't learn

GHustler:
This one don fold?

Same day with CBEX

Well said, but we must all realize that just like government cannot regulate against immorality so also is stupidity. It’s not poverty, hardship nor vulnerability but purely stupidity

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

The forest government is doing this on a daily basis...and people are devastated per second. No new thing. CBEX is just another ministry of transport or finance....

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

Clean2016:
Same day with CBEX

Really sad

Starboytwo:
I no even notice say anything like Cbex dey exist.

One bottle for you bro, wetin concern me

Guys do you think BITNEST is legit?

iwaeda:
https://punchng.com/cbex-scam-folly-of-greed/

Succinctly stated.

To put it here with more CLARITY... A deadly combination of greed, naivety, LACK of financial literacy, etc, are responsible for the relentless surge in people falling into the trap of Ponzi schemes or pyramid schemes despite being WARNED. Most people will have to get burned really hard and have their brains reset in order to STOP them from further getting involved in these so-called investment scams that offer 100% or more monthly returns per month (which is just absolutely ridiculous). ONLY very few businesses can give 100% or more monthly ROI and those who know about these businesses jealously guard their "secret" sources of income from the public space. Period.

AerialMapper:
What people need to realise :

Being registered with CAC doesn't confer legitimacy, as long as your Memorandum of Articles doesn't contain prohibited activities, they'll register you.

Having a SCUML certificate means nothing. Once certain keywords or business ventures are listed in your Memart, you will be required to register for SCUML in order to have a bank account. EFCC does nothing more that sit you down for a lecture, a director signs and your certificate is issued.

Even being registered with SEC means nothing! These are the regulatory body for capital market operators but even registering with them doesn't guarantee you that you are dealing with genuine market operators. They will not protect your investment.

In the end, you only have your brain and commonsense to guide you. Once it sounds too good to be true, RUN away! Even the safest investment, which are treasury bills backed with the full faith of the FG cannot give you 100% in 30-40 days! No business venture can do this and even if they could, ask yourself why they aren't just turning over their own funds and enjoying the wealth themselves!
End of comment

ABSOLUTELY! Well stated.