Videos circulating on social media show groups of people gathered at an alleged PXES office in Yola, Adamawa State, removing chairs and other office equipment following reports that the investment scheme had collapsed.

The footage, shared by multiple accounts including @ChuksEricE on Friday, September 4, 2026, shows people carrying items away from the premises as others watch.

Investors Reportedly Lose Money

According to captions accompanying the videos, those at the premises were investors who allegedly lost money after PXES folded.

The exact amount reportedly lost by investors has not been established, while the circumstances surrounding the removal of the office items remain unclear.

PXES has previously been mentioned in Nigerian media discussions over online investment platforms accused of operating with characteristics associated with Ponzi schemes, including promises of high returns and recruitment-based models.

Authorities Yet To Confirm Incident

There was no immediate official statement from the Adamawa State Police Command, the Securities and Exchange Commission (SEC) or the Economic and Financial Crimes Commission (EFCC) confirming the incident in Yola.

Authorities have also not publicly confirmed the exact nature of PXES operations at the location, the identities of those involved or whether any arrests have been made.

The circulating videos therefore do not independently establish whether the people removing the items were investors or whether the premises belonged directly to PXES.

Investment Scheme Collapses

The incident comes after renewed concerns over unregistered investment platforms offering high returns to Nigerians. Regulators have repeatedly advised members of the public to verify whether investment operators are properly licensed before committing their money.

No verified figure has been released on the financial losses allegedly suffered by PXES investors in Yola.