The Economic and Financial Crimes Commission (EFCC) says investors who invested in the CBEX digital trading platform will get a refund.
The EFCC stated that it was already tracking the CBEX trading platform prior to the recent public outrage.
According to multiple posts on X, the CBEX, which guaranteed investors a 100 per cent return on investment, began encountering issues last weekend when many investors were unable to withdraw their money.
On Monday, unhappy ‘investors’ reportedly ransacked the office of Smart Treasure, an offshoot of the CBEX crypto trading platform, in Ibadan’s Oke Ado axis, Oyo State.
Speaking on Channels TV’s Morning Brief on Wednesday, EFCC spokesperson Dele Oyewale stated that the anti-graft agency has received several calls from Nigerians seeking information and solutions regarding CBEX.
He stated that before the recent outrage and calls, the EFCC had profiled the platform and warned Nigerians about potential Ponzi schemes.
“We were not waiting for Nigerians to call us before we started our work; of course, we have been working.
“We were not beaten by what actually happened. Our dragnet is wide, our intelligence is very effective, and we were tracking that digital trading platform.
“We were tracking it, and we profiled several things concerning the platform. You will recall that on March 11 this year, the executive chairman of the EFCC, Mr Ola Olukoyede, had called to instruct us to alert Nigerians,” Oyewale said.
Oyewale recalled that about 58 Ponzi scheme companies were listed by the commission in March for Nigerians to be wary of.
“That shows that we are proactive and we have our hands on what is happening. So concerning this investigation, we were on it; it’s not that we didn’t know.
“We’ve been alerting Nigerians about ways and means of how to separate themselves from this kind of shenanigans.
“Before the calls came, we were working; while the calls are coming, we are working; and even after the calls, we are still working.
“The essential thing is that, of course, we are going to recall some of the things that Nigerians should be looking out for, you know, concerning this kind of investment schemes and all of that,” he said.
Oyewale also assured investors that their money will be recovered, though it may take time.
“No, it will be very irresponsible and unprofessional if the EFCC says that you have lost your money; there is nothing the commission can do about it.
“We are already working with Interpol and our international development agencies to ensure that these people are brought to book.
“Investors are going to get a refund, and we are already working on that. All I’m saying is that this kind of thing could have been averted.
“Be it as it may, it was not averted. We are not going to throw our hands out helplessly and say that there’s nothing EFCC can do about it.
“We are more responsible and professional than that. We have spread out our wings by talking to Interpol and the necessary agencies across the world to be able to bring all the actors to book, and investors will have their money back,” the spokesperson said.
The spokesperson of the commission said the investments might not be recovered in the short term, but the EFCC will not allow investors to lose their money.
