Nigeria, April 15 -- The Securities and Exchange Commission (SEC) has warned Nigerians to stay away from CBEX and other investment platforms that are not registered with the government.

This warning came after many Nigerians said they couldn't withdraw their money from CBEX, leading to panic and fears that the platform may have shut down.

Concerns grew over the weekend when several users of CBEX, a digital asset platform promising large profits, reported that their withdrawal requests were unsuccessful.

These reports spread quickly online, with many people saying CBEX looked like a Ponzi scheme.

Others, however, insisted the platform was still working and blamed the problem on policy changes.

CBEX promotes itself as a platform where ...