A new Ponzi scheme known as F&B has officially crashed, sending shockwaves across Nigeria’s online investment scene. This news comes just months after similar collapses like Cheerways and Cbex. One victim, who previously mocked friends for falling into such traps, has now shared his own painful story.
“I had been making profit from one Ponzi my female friend introduced me to since February,” he said. “But just when I thought I was safe, I lost everything—capital and profit—overnight.”
According to the report, signs of collapse began about three weeks ago. Many investors could no longer withdraw their funds. The platform kept offering false reassurance and delays, which gave many people false hope.
“They told us we could withdraw this Thursday,” he explained. “But when we logged in, our dashboards showed zero balance. They even had the guts to ask us to pay a fee before recovering anything.”
He confirmed a personal loss of ₦120,000 and all accumulated profit. “Some people lost millions,” he added. “I just hope we’ve all learnt a lesson.”
This trend of Ponzi investment crashes in Nigeria highlights the urgent need for caution. Online scams, fake investment platforms, and high-return schemes remain a threat. As one of the affected investors said, “Life goes on, but sense must enter.”
