Despite being under the spotlight of financial regulators, digital trading platform CBEX has quietly resumed operations, allowing users to register, trade, and withdraw funds. According to two traders who spoke with The PUNCH, the platform is fully functional again, even as it remains the subject of ongoing investigations.
CBEX, known for its crypto and forex-based trading options, had previously come under scrutiny after concerns were raised about its financial practices and investor protections. The decision to restart operations without a formal public announcement has raised eyebrows among industry observers, many of whom believe that the move could undermine regulatory oversight.
Traders who had previously been locked out of the platform say they were surprised to find their accounts accessible again, with full functionality restored. However, there’s a growing sense of caution in the user community. While some see the reopening as a sign of recovery, others fear it may lead to more complications, especially if regulatory authorities haven’t cleared the platform of wrongdoing.
The situation highlights the broader risks involved in the digital trading space in Nigeria, where regulation is still evolving. As CBEX re-enters the market, both traders and regulators will be watching closely.
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