Security operatives from the Nigeria Police and the Western Nigeria Security Network, popularly known as Operation Amotekun, took control of the CBEX office located at Oke-Ado in Ibadan, Oyo State, on Tuesday, April 9. This action came just hours after news broke late Monday evening that the CBEX online investment platform had crashed, leaving many residents devastated and fearing for their lost funds.
Residents of Ibadan and nearby areas, many of whom had invested large sums of money into the scheme, quickly descended on the company’s office in protest. Several people were seen forcibly entering the premises and allegedly carting away valuables in frustration. Patrol vehicles belonging to both the police and Amotekun were stationed at strategic points around the building to maintain order and prevent further escalation.
An eyewitness confirmed that the platform’s collapse triggered the crowd’s reaction. He explained that once news spread that the company had folded, anxious and angry investors rushed to the office seeking answers and attempting to reclaim their investments. “People came because they lost a lot of money and wanted someone to be held accountable,” he said, pointing to the heavy security presence that followed.
Authorities are yet to release an official statement regarding the cause of the platform’s collapse or any plans to investigate the matter. Meanwhile, security personnel remain on-site as a precaution to prevent unrest while affected investors seek justice and clarity over the situation.
