A protest broke out at the CBEX outlet in Ibadan, the Oyo State capital, on Tuesday, as investors stormed the office destroying and looting its content in the process.
The investors alleged that for some days, they could not access or withdraw their money from the digital trading asset platform.
The protest became violent leading to looting when the protesters discovered that all their money had disappeared from their accounts with the company.
It took the intervention of security agents to disperse the crowd and restore normalcy to the area.
Some of the investors cut across different strata of the society including artisans, traders, and civil servants among others.
There were reports that some of the staff of the company were manhandled when investors besieged the place after discovering it was another Ponzi scheme.
Meanwhile, normalcy has been restored to the area as security agents have taken charge of the building since last night to avoid further breach of peace.
Vehicular and human movement has been restored with people going about their business without let or hindrance.
