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EFCC Assures CBEX Investors of Refunds, Says Recovery Process Already Underway

by Blessing Udoh
April 18, 2025
in National
Reading Time: 3 mins read
0

Economic and Financial Crimes Commission - EFCC - EFCC Restates Commitment  to Tackling Electoral Fraud

The Economic and Financial Crimes Commission (EFCC) has assured Nigerians who invested in the recently collapsed CBEX digital trading platform that they will be refunded, although the process may take some time.

Speaking on Channels TV’s Morning Brief on Wednesday, April 16, EFCC spokesperson Dele Oyewale revealed that the commission had already been monitoring CBEX even before the public outcry began.

“We were not waiting for Nigerians to call us before we started our work,” Oyewale said. “Our dragnet is wide, our intelligence is effective, and we were tracking that digital trading platform long before it collapsed.”

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He recalled that on March 11, EFCC Chairman Ola Olukoyede had instructed the agency to raise the alarm about suspicious platforms, and CBEX was among those flagged.

In fact, the commission had previously released a list of 58 suspected Ponzi schemes in March, warning the public to avoid them.

Oyewale emphasized that the EFCC is already collaborating with Interpol and international development agencies to locate and prosecute those behind CBEX.

“We’re not throwing our hands up in helplessness. We are working round the clock, and I assure you—investors will get their money back,” he said.

He, however, urged patience, saying the refund process might not be immediate, but the EFCC remains committed to ensuring justice is served.

“It might not be in the short term, but the commission is determined not to let investors lose their hard-earned money,” Oyewale assured.

He also used the opportunity to caution Nigerians against falling for too-good-to-be-true investment opportunities, urging greater financial vigilance in the future.

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