The high cost of chasing easy riches: Lessons from Nigeria’s CBEX collapse

The collapse of the so-called Crypto Business Exchange (CBEX) has once again laid bare a painful truth: the dream of sudden wealth continues to lure countless Nigerians into financial ruin. In the aftermath of one of the largest Ponzi schemes in the nation’s history, the shattered hopes and emptied bank accounts of over half a million victims serve as a stark warning – one that, tragically, goes unheeded time and again. Despite the lessons of the past, the promise of effortless riches remains an irresistible siren song, drawing in new victims w