EFCC assures CBEX investors of fund recovery after crypto platform crash
The Economic and Financial Crimes Commission (EFCC) has assured Nigerians who invested in the troubled CBEX digital trading platform that they will recover their funds, though the process may take some time. This follows public outrage after investors were unable to withdraw funds, leading to the looting of CBEX’s Ibadan office earlier this week.
Speaking on Channels TV, EFCC spokesperson Dele Oyewale disclosed that the agency had been monitoring CBEX even before the crisis erupted. He emphasized that the commission had earlier profiled the platform as a potential Ponzi scheme and warned the public as far back as March.
Oyewale noted that CBEX, which promised a 100% return on investment, had raised red flags with its operations. The EFCC had included it among 58 suspicious investment companies flagged to the public earlier this year.
He reiterated that the agency is collaborating with Interpol and international development partners to trace and prosecute the masterminds behind the failed platform. “We will not abandon Nigerians. Investors will get their money back, even if not immediately,” he assured.
Oyewale urged Nigerians to stay vigilant and avoid falling victim to similar fraudulent schemes in the future, noting that the EFCC is committed to ensuring justice and recovering lost funds for victims.
