CBEX: ‘You’ll Get Your Money Back, EFCC Assures Investors
From Our Correspondent
The Economic and Financial Crimes Commission (EFCC) has assured Nigerians that efforts are underway to trace and recover the N1.3 trillion in stolen funds from the collapsed digital investment platform, CryptoBank Exchange (CBEX).
In an interview on Channels Television’s ‘The Morning Brief’ on Wednesday, EFCC spokesperson Dele Oyewale stated that the commission has taken proactive steps to educate the public about illegal and unrealistic investment schemes.
Reports indicate that CBEX, a digital trading company of Chinese origin, allegedly collapsed on Monday, leaving thousands of Nigerian investors unable to access their funds. Videos circulating online have shown victims expressing their frustrations over their losses.
Despite the challenges faced by many investors, the EFCC assured the public that they are actively working to trace and recover the stolen funds. The commission is collaborating closely with international partners, including Interpol.
“It would be very irresponsible and unprofessional of the EFCC to say that you have lost your money and that there is nothing we can do about it,” Oyewale explained. “We are already working with Interpol and international development agencies to ensure that those responsible are brought to justice. Investors will get their money back.”
While he cautioned that the recovery process may not be immediate, Oyewale emphasized that the commission will not abandon the victims of the scam. “Escapism is not a solution to any problem.
The EFCC, as Nigeria’s leading anti-corruption agency, will not allow investors to simply lose their money. We are more responsible and professional than that,” he concluded.
The EFCC also reiterated its warnings to Nigerians about the dangers of Ponzi schemes, particularly following the collapse of CBEX, which has reportedly defrauded investors of over N1.3 trillion.
“You may recall that on March 11 of this year, the Executive Chairman of the EFCC, Mr. Ola Olukoyede, instructed us to alert Nigerians about 58 Ponzi scheme companies,” Oyewale said.
