The Economic and Financial Crimes Commission (EFCC) has pledged to recover funds for Nigerians who invested in the CBEX digital trading platform, which is currently under investigation for allegedly defrauding investors of approximately ₦1.3 trillion. EFCC spokesperson Dele Oyewale announced during a Channels Television interview that, although the recovery process may not yield immediate results, efforts are underway to ensure investors are reimbursed.
Oyewale emphasized that the EFCC had been monitoring CBEX prior to the recent public outcry and had previously warned Nigerians about the risks associated with Ponzi schemes. He highlighted that CBEX operated online without legal status in Nigeria and offered unrealistic returns, such as 100% profit within 30 days, which should have raised red flags for potential investors.
In response to the situation, the EFCC is collaborating with international agencies, including Interpol, to track down the perpetrators and recover the diverted funds. Oyewale assured that the commission is committed to bringing those responsible to justice and returning the funds to the affected investors.
The CBEX platform’s collapse has left many investors unable to access their funds, leading to protests and unrest, particularly in Ibadan, Oyo State. The EFCC urges Nigerians to exercise caution and conduct thorough research before engaging in investment opportunities that promise unusually high returns.
