Senate probes CBEX Ponzi Scheme, seeks answers on regulatory failures

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Abuja


The Nigerian Senate has mandated a joint committee to conduct an investigative hearing into the operations of Ponzi schemes in Nigeria, with a focus on the recent Crypto Bullion Exchange (CBEX) incident. The probe aims to uncover the lapses that allowed CBEX and similar platforms to thrive unchecked, defrauding millions of Nigerians of over ₦1.3 trillion.

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