KABBA, Kogi State — Subscribers to the digital marketing and investment platform, PXES, have been left stranded and counting heavy losses after the platform abruptly went offline, cutting off all access to funds.
The growing crisis came to a head on Friday, September 4, when scores of aggrieved investors stormed the Kabba office of the enterprise, only to meet a locked door and an empty facility. The sudden closure has thrown the local business community into panic, with the scheme having gained massive traction across the Kabba axis of Kogi State.
In its early stages, the platform drew widespread participation by aggressively marketing a model promising rapid, high-yield returns. Initial participants reportedly received 100 percent gains on their capital, a development that inspired widespread confidence and prompted many to reinvest their earnings alongside fresh capital.
Credibility was further lent to the enterprise months prior when its promoters engaged in corporate social responsibility (CSR) activities that were broadcast on NTA Kabba. The media exposure convinced cautious residents of the scheme’s legitimacy, leading to a surge in subscription numbers.
However, warnings had previously rippled through parts of the Okun region as concerned locals and observers flagged the platform’s heavy reliance on recruitment tiers and unsustainable rewards as classic indicators of a Ponzi scheme.
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NTA Kabba subsequently issued disclaimers clarifying that its coverage of the platform’s activities did not constitute an official endorsement or validation of the scheme. Despite these late warnings, hundreds of users who funneled substantial savings into various tiered investment packages—ranging from lower brackets to higher VIP levels—found themselves locked out of their accounts as the mobile application and website went dark.
Victims are now calling on relevant authorities to track down the promoters of the platform and assist in recovering their trapped funds, even as financial analysts continue to urge caution against digital investment outfits promising abnormal short-term returns.
