The Economic and Financial Crimes Commission (EFCC) has assured Nigerians who invested in the now-defunct CBEX digital trading platform that they will recover their funds, although the process may not yield immediate results.
EFCC spokesperson, Dele Oyewale, made the disclosure during an appearance on Channels TV’s Morning Brief on Wednesday, April 16. He noted that the agency had already begun investigating the platform before the public outcry and had issued earlier warnings about potential Ponzi schemes.
“We didn’t wait for Nigerians to raise the alarm before we began our investigation. We had already profiled CBEX and flagged it as suspicious,” Oyewale said.
He emphasised that the EFCC’s intelligence network had been tracking CBEX, and that the agency had included the platform among 58 Ponzi schemes it flagged in March.
“We’ve been proactive. Even before the complaints started pouring in, we were monitoring the situation. We’ve been warning Nigerians to stay away from dubious investment schemes,” he added.
Oyewale assured the public that the EFCC is collaborating with Interpol and international development partners to trace and prosecute those behind the CBEX collapse.
“It would be unprofessional and irresponsible for the EFCC to declare that investors’ funds are lost. We’re already working with relevant international agencies to bring the perpetrators to justice,” he said.
He reiterated that while the recovery of funds may not be immediate, investors will eventually be reimbursed.
“It might not happen in the short term, but I can confidently say that the EFCC will not allow Nigerians to lose their hard-earned money without a fight. We are committed to ensuring they get it back,” Oyewale stated.
