Popular Nigerian comedian and preacher, Woli Arole (born Bayegun Oluwatoyin), has weighed in on the controversy surrounding the collapse of CBEX, a digital asset trading platform.

 CBEX has been trending on social media platform X (formerly Twitter) following allegations that it defrauded investors of over ₦1.3 trillion, leaving many in financial ruin.

The platform’s reported downfall has sparked widespread outrage, ridicule, and heartbreak, with affected Nigerians sharing personal stories through videos and comments.

The incident has reignited conversations about the recurring vulnerability of Nigerians to fraudulent investment schemes. Legal and media personalities, including lawyer and content creator Timi Agbaje, have also highlighted the legal implications of Ponzi operations and the accountability of their promoters under Nigerian law.

Reacting to the scandal, Woli Arole took to his social media page to express disappointment in those who invested in CBEX especially members of the Christian community. Drawing comparisons to the infamous MMM scheme, he warned Nigerians against repeating past financial mistakes.

He particularly called out Christians and pastors who got involved in the scheme without spiritual discernment or guidance.

“How can a Christian or pastor lose money to CBEX? Where is your discernment? As believers, we should always seek the guidance of the Holy Ghost before making decisions,” Arole wrote.

His comments have sparked a new wave of debate online about the intersection of faith, financial literacy, and personal accountability in investment decisions.

See the post and reactions below:

@chidobrown: “No be only Holy Ghost… lol.”

@dequezgram: “CBEX CEO smiling right now.”

@thefoodnetworknig2: “The first place I heard of MMM was in church. In fact, the university pastor encouraged everyone to join. People lost money because he promoted it in church. If you like, don’t think for yourself—keep following pastors who don’t know the road.”

@happiokos_comedy: “You fell for MMM and still fell for CBEX? At this point, you need serious evaluation.”

@humblechyde: “Leave religion out of this. The government and its agencies failed the people. Vulnerability has no religion. How could a Ponzi scheme this massive operate under SEC, EFCC, and CAC’s noses unnoticed?”

@iamkingdinero1: “So when pastors try to hustle outside tithe money, una still complain?”

@e.f.e.m.e.n.a_kylian: “Can the body of Christ ever catch a break?”