Angry Investors Storm PXES Offices in Kogi and Adamawa After Investment Scheme Collapses

Angry investors across Nigeria have taken matters into their own hands after an online money platform stopped paying them their expected profits.

People who put their hard earned money into an online investment business known as PXES marched to the company’s branch offices on Friday, September 4, 2026.

Trouble started when the company blocked users from withdrawing cash from its online system. When depositors realized they could not take out their money, panic quickly spread among thousands of users who had saved their funds on the platform.

Crowd members broke into the company branches in Yola, Adamawa State, and Kabba, Kogi State, carrying away chairs, office computers, tables, and electronic equipment to cover their losses.

Inside the branch in Yola, depositors arrived expecting their usual weekly Friday payments, only to find the doors closed and no staff inside.

As frustration boiled over, people smashed open the doors and stripped the building clean of every valuable item they could find. A short while later, similar chaos broke out at the branch office in Kabba.

Frustrated crowds gathered outside the locked premises, shouting at the top of their voices and carrying away office property.

In videos recorded by bystanders, one deeply distressed man who was crying outside the Kabba office screamed out in grief, asking, “Where is my 209,000 Naira?”

The company had attracted hundreds of everyday citizens across several states by promising huge profits on short term cash deposits.

Customers were told that if they put their money into the online platform, their funds would double or grow rapidly within a short period.

For a while, users watched their account balances grow on their mobile phone screens. However, trouble began when the platform suddenly froze all payout requests without warning.

As news spread that the app had crashed, users realized that the profits showing on their screen dashboards were just numbers they could no longer convert into real cash.

Security experts and financial regulators have repeatedly warned the public about the dangers of puting money into unregistered online money platforms that promise huge profits.

The Securities and Exchange Commission has consistently told citizens to verify any money platform with official government registers before sending their hard earned savings.

Government financial guidelines explain that any business promising double profits within a very short time carries massive risk and is usually designed to fail when new deposits stop coming in.

Despite these warnings, many people were drawn into the scheme because early depositors received payouts and shared testimonies on social media.

Many users even borrowed money from family members or used their entire business capital to join the platform, hoping for a quick financial turnaround.

Now that the branch offices sit completely empty and locked under key, depositors are left with no clear way to recover their funds.

So far, police officers and government authorities have not made any official public statement regarding the incident, and no company leader has come forward to explain why the money was frozen.

Neither the local managers nor the owners of the app have answered calls or spoken to the public since the offices were raided.

For the hundreds of depositors who lost their savings, the empty, broken offices remain a painful reminder of how quickly questionable online money schemes can disappear with people’s life savings.