Man Tells People to Quickly Delete CBEX App from Their Phones, Shares Danger of Having it

• A Nigerian youth has raised an alarm about the danger of having the CBEX application on one's phone
• He claimed that the CBEX application was not on the Google Play Store or Apple App Store, and as such, people downloaded it from an unverified source
• In an exclusive chat with Legit.ng, Barrister Chidera Divine Ebimnamaonye, offered a solution to the government that would help Nigerians easily identify Ponzi schemes like the crashed CBEX

A Yoruba creator, Uthman Ayipo, has said it is risky to still have the CBEX application on one's phone.

The content creator sounded the warning while reacting to the crash of the Ponzi scheme, which defrauded thousands of Nigerians.

Why CBEX application should be deleted

In a TikTok video, the creator urged people to immediately delete the CBEX application if they still have it on their phones, saying it exposes their devices to further scamming and viruses.

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He explained that people got the CBEX application from an unverified platform, as it was not available on the Google Play Store or Apple App Store.

He added that iPhone users needed to give the app some permission before it could run on their phones, and this in itself is risky.

His advice stirred mixed reactions online.

"Delete CBEX application from your phone,'' words layered on his TikTok video read.

Barrister Ebimnamaonye offers solution to Nigerian government

When quizzed if there were any regulatory loopholes in Nigeria or globally that CBEX took advantage of, a barrister and solicitor of the Supreme Court of Nigeria, Chidera Divine Ebimnamaonye, Esq, stated that there weren't any of such.

Speaking exclusively with Legit.ng, Barrister Chidera faulted the government for a poor sensitisation process about Ponzi schemes like CBEX.

"To the extent the law has provided, I do not find regulatory loopholes other than that the sensitisation process is poor.

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"The government should acquaint the public with seasonal information, discouraging investments that are not verified. The sensitisation is poor, hence, the Securities and Exchange Commission (SEC) should do well on this."

Going forward, he suggested that the government create an easy-to-go app that would help Nigerians to easily identify and verify legitimate companies and investment platforms.

"Furthermore, there should be an easy way to identify fake investment schemes in Nigeria. The world is a global village.

"The government should open up an easy-to-use app to verify legitimate companies and investment platforms. This way, citizens can easily check the legitimacy of some investments before they invest."

Watch the video below:

Man's advice to CBEX investors generates buzz

Taiwo Idris Odekunle said:

"All of you are just saying rubbish to make a content, what does that have to do with our phone, just shut up and face your problem bro enough is enough."

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AJISTAI said:

"Guy, go siddon jor. You know how many app that we download on our phones that are not from play store or Apple store."

Michael picker said:

"Trojan virus mr man delete the rubbish video and stop talking like a fool jare do u know meaning of virus instead of u to say malware u dae say virus 😂😂😂😂 agba programmer."

Aderibigbe Badgee said:

"Poverty still get advantage. Gbogbo kan ti olohun da daradara ni."

useromowunmi said:

"God bless you bro🙏 you are right 👍 I will go and delete the App na before then give me another chest pain and difficult in breathing."

Callmebbolex said:

"Not now...I need evidence to show policemen. I don dey on my way."

bellarrichy said:

"And they still even ask us to verify our BVN number ooo hope say nobi wahala bi this."

In a related story, Legit.ng reported that the federal government had sympathised with the victims of the CBEX Ponzi scheme.

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Nigerian govt sends notable message to all CBEX 'investors', “to put your hard-earned money"

Man tells CBEX investors step to take

Meanwhile, Legit.ng previously reported that a concerned man had told CBEX investors the next step to take following the crash of the Ponzi scheme.

The man warned investors of the failed investment platform not to fall for the new update and make any deposit, saying it was a ploy to take more money from them.

"...Accept your loss and move on. That's the best thing you can do. CBEX is gone. E don crash, and there is nothing you can do about it. If you like make you get influence, there is nothing you can do about it," he said.

Source: Legit.ng