PXES Yola office has shut down after angry customers allegedly vandalised the investment company’s premises in Yola, Adamawa State, following difficulties withdrawing their money.
PXES, which stands for Professionalism Excellence Evolution Solution, operates a savings scheme that attracts customers who reportedly invest amounts ranging from N21,600 to more than N3 million.
The scheme offers different investment categories. Customers are promised daily returns, with the stated structure allowing them to recover their initial capital in less than two months.
However, concerns reportedly grew among customers in Adamawa State after some investors experienced problems accessing their funds.
The situation escalated on Saturday when angry customers reportedly attacked the PXES Yola office.
Witnesses said some of the customers allegedly removed furniture and other equipment from the premises during the incident.
The customers were reportedly frustrated by their inability to withdraw money from the scheme. Some allegedly suspected that something was wrong with the operation and turned their anger towards the company’s Yola office.
The incident highlights the risks that can arise when customers struggle to access funds held by investment and savings schemes.
For investors, the episode also raises questions about how such schemes operate, what safeguards protect customers and how regulators monitor companies that collect money from the public.
Nevertheless, allegations surrounding the incident and the investment scheme require verification from the company and relevant authorities.
As a result, customers affected by the shutdown may now seek clarification about their investments and the process for recovering their funds.
The PXES Yola office incident could therefore increase pressure on the company to explain the withdrawal problems and reassure customers about the safety of their investments.
