Nigerians who invested millions of naira in an online investment platform known as PXES are counting their losses after the scheme abruptly stopped paying returns and became inaccessible.
Saturday PUNCH gathered that the platform stopped paying participants in early September, with investors who committed sums ranging from tens of thousands of Naira to millions left in limbo and in some cases, unable to reach the operators.
The collapse has triggered outrage among investors, some of whom stormed and looted PXES offices across the country, particularly in Adamawa and Kogi states, in a desperate bid to recover part of their money.
Our correspondents learnt that the platform attracted investors with unusually high daily returns.
According to reports, the platform promised investment returns at between 25 per cent and 50 per cent, with some packages offering as high as 120 per cent.
