Tension erupted in Ibadan as a group of aggrieved youths and investors descended on the local office of CBEX, a digital trading platform, following its reported crash which left users unable to access their funds. The incident occurred in the Oke Ado area of the Oyo State capital, where crowds stormed the premises in frustration, looting furniture and other valuable items.Eyewitness accounts and viral videos circulating on social media show dozens of enraged individuals carting away items such as tables, chairs, and office furnishings after discovering that their account balances had been wiped to zero. The scenes were chaotic, with no visible presence of security operatives at the time of the attack.The CBEX platform, which had attracted numerous users with promises of returns through digital trading, allegedly went offline earlier in the week, sparking panic among investors who could no longer access their investments. As news of the crash spread, many affected users expressed anguish and disbelief, with some taking to the streets and CBEX offices to vent their frustration.Several residents in the area confirmed the incident, noting that the mob action was triggered by reports that the platform had folded without warning, leaving scores of Nigerians in financial distress. Efforts to reach representatives of CBEX for a statement proved unsuccessful as of press time.Security agencies are yet to release an official statement regarding the destruction of property, but residents have called for calm while urging authorities to investigate the situation and hold those responsible for the collapse of the platform accountable.The situation has once again raised concerns over the proliferation of unregulated digital trading and investment platforms in Nigeria, with many calling on relevant financial bodies to intensify oversight to protect unsuspecting citizens from fraudulent schemes.
