Kola Adesina Lambast Quick-Rich Malady, Blames CBEX Collapse on Greed

May 2, 2025 

CBEX: The Group Managing Director of Sahara Power Group, Dr. Kola Adesina, has taken a swipe at the growing trend of wealth pursuit without value creation.

Speaking at a recent leadership and economic forum in Lagos, Adesina addressed the fallout from the collapse of CBEX, a now-defunct digital investment platform that left thousands of Nigerians financially stranded.

He condemned what he described as a culture driven by greed rather than purpose.

In his blunt assessment, Adesina remarked:

“Your prosperity is not about problem-solving, you are doing ‘Yahoo Yahoo’. Everybody that fell into the sea of CBEX drowned because they did not have any problem they were solving. It was only greed that was offered.”

CBEX had gained popularity by promising high and often unrealistic returns on investments, with little transparency or backing.

Its eventual crash led to widespread losses, echoing the pattern of past fraudulent schemes that exploited the desperation and ambitions of investors, particularly among Nigerian youth.

emphasized the need for a mindset shift, urging young people and aspiring entrepreneurs to prioritize innovation, integrity, and the creation of solutions that address real societal problems.

“Wealth that is not rooted in purpose is fleeting. We must redefine prosperity to mean value-driven impact, not shortcuts and speculative traps,” he added.

Energy Times