“Quick Money” Nigeria’s plan to withdraw crypto platform was doubtful

The troubled Nigerian digital asset platform Crypto Bridge Exchange (CBEX) recently announced a new withdrawal option to restore investor trust. Sources revealed that the company made the announcement after facing claims of collapse. Under the new rules, investors up to $1,000 on the platform will be required to pay a $100 fee to withdraw 50% of the initial funds due to be released by June 20, 2025. Despite the new withdrawal options, some users remain skeptical about the company’s true status and view activation fees as a potential scheme to scam more Nigerians. Financial analyst Adeola Odetayo noted that many Nigerians continue to fall into the “quick money return” platform, highlighting the lack of financial literacy in the population.