SEC Alert: 5 Ponzi platforms that can vanish with your money

    Iheanyi Nwachukwu | Editor’s picks | Feb 10, 2026    
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In Nigeria, Ponzi schemes have transitioned from "street-level" scams to sophisticated digital traps. While the faces and names change – from the infamous MMM (2016) to more recent entities like CBEX and MBA Forex – the underlying mechanics remain a "robbing Peter to pay Paul" strategy that thrives on economic vulnerability.

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