Nigerians Protest Losses After PXES Investment Collapse

Nigerians who invested in the online investment platform PXES are experiencing substantial financial losses after the scheme halted payments and became inaccessible in early September. Many investors, who had put in tens of thousands to millions of naira, are unable to withdraw their funds.

This situation has led to protests, with aggrieved investors storming PXES offices in Yola, Adamawa State, and Kabba, Kogi State, where they removed office equipment in attempts to recover their money. The platform had attracted participants with promises of high returns, some packages offering between 25% to 120% returns.

Videos from the protests show individuals removing furniture from the offices. Investors like Bunmi Awodipe, who invested ₦200,000, reported receiving only three weeks of payments before the scheme collapsed.

Another investor, Deji Mulero, lost ₦65,000 shortly after joining on September 4. The situation escalated when the Kabba office manager promised compensation but closed the office shortly after, leaving investors without information.