Omotayo Adigun
The Ibadan office of the digital trading platform CBEX, located in the Oke Ado area, was reportedly stormed and looted by a group of angered individuals on Monday, April 14, 2025.
The incident is believed to have been triggered by the sudden collapse of the CBEX platform, which allegedly left many users unable to access their funds.
According to eyewitness accounts, the mob forcibly gained entry into the premises and proceeded to remove various items, including office furniture such as tables and couches, along with other unspecified equipment.
Video footage circulating on social media appears to corroborate these accounts, showing a large crowd gathered at the CBEX office with individuals actively removing items from the building.
The catalyst for the unrest was reportedly the abrupt failure of the CBEX digital trading platform. Users allegedly discovered their account balances had dropped to zero following the crash, leading to widespread frustration and grief over significant potential investment losses.
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Several affected users have reportedly taken to social media platforms to express their distress and share details of their situation.
As of the time of this report, official confirmation regarding the platform’s status or the extent of user losses is pending.
Authorities in Oyo State have also not yet released an official statement concerning the looting incident at the Oke Ado office, nor have they confirmed if any arrests have been made in connection with the disturbance.