Wizkid, Porkoyor and others Scammed: How CBEX Robbed Nigeria's Celebrities and Public Blind

    In a shocking twist that has rocked both the entertainment and financial worlds, Nigerian music icon Wizkid and internet personality Porkoyor have reportedly fallen victim to the infamous CBEX Ponzi scheme, losing hundreds of millions in the process.

• Wizkid allegedly lost ₦300 million.

• Porkoyor was also heavily scammed by the platform $14K

    CBEX, which disguised itself as a high-tech, AI-powered crypto trading app, promised mouth-watering returns of 50% to 100% within 30 days. With its sleek branding, social media campaigns, and viral WhatsApp referral chains, it quickly gained massive traction — especially after being indirectly endorsed by celebrities and influencers.

Though Wizkid and Porkoyor never officially promoted CBEX, screenshots surfaced online showing Porkoyor talking about the app in private groups, giving fans the impression it was legitimate. Meanwhile, rumors spread that Wizkid had “put money in it,” and for many Nigerians, that was all the validation they needed.

If Wizkid can trust it with ₦300 million, then it must be real,” said a victim who lost ₦1.2 million in savings.
“That was my rent money. I don’t even know how to face my landlord now.

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The Illusion of Safety

One of the major factors that fueled CBEX’s rise was the false sense of security people felt when celebrities or influencers were seen associating with it. Even when these celebrities were also victims, their involvement — even as investors — gave CBEX the credibility it needed to thrive.

Sadly, the CBEX collapse in April 2025 has left behind more than financial loss. It’s left a trail of broken trust, public outrage, and mental health struggles.

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The Bigger Picture

This incident highlights the deeper problem in Nigerian society where celebrities are not just entertainers but unofficial financial advisors. Fans follow their every move, from fashion to forex. Scammers know this — and exploit it.

When a celeb mentions an app or investment, people don’t ask questions. They just dive in,” says fintech analyst Opeyemi Adedeji.

This isn’t the first time. Back in 2021, platforms like RackSterli pulled a similar stunt with big names like Davido, Rema, and Poco Lee promoting it — and when it crashed, thousands of fans were left in tears.

Wizkid Porkoyor and other's Silence

As of now, neither Wizkid nor Porkoyor has made an official statement. Their fans, however, are demanding answers — not just about their losses, but about why these influential figures didn’t speak up earlier, when the red flags started to appear.

Whether they were scammed or used for clout, their names played a big role in CBEX’s wide reach. And now, Nigeria is left cleaning up the mess.

👥 The Celebrity Influence Trap

Although Wizkid and Porkoyor didn’t publicly endorse CBEX, their alleged involvement as investors gave the scheme credibility.

“If Wizkid can trust it with ₦300 million, then it must be real,”

— said a victim who lost ₦1.2 million.

😢 The Aftermath

• CBEX collapsed in April 2025, leaving thousands in debt and despair.

• Fans are devastated, having invested based on celebrity involvement.

• Mental health toll: Some victims are reportedly dealing with depression and hopelessness.

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🧠 Key Takeaway

Even the biggest stars aren’t safe from fraud — and their involvement, intentional or not, can mislead millions. Always verify before investing, no matter who’s backing it.