The Economic and Financial Crimes Commission (EFCC) is collaborating with Interpol to recover funds lost in the CBEX Ponzi scheme, which defrauded investors of over ₦1.3 trillion, according to EFCC spokesperson Dele Oyewale in a Channels Television interview on April 16, 2025.
CBEX, a digital trading platform, promised investors a 100% return on investment within 30 days, luring thousands before collapsing on April 14, 2025, per a Naija News report.
The EFCC began investigating CBEX before its collapse, with Oyewale confirming the agency is also working with the FBI to trace both local and foreign operators behind the scheme, as reported by BBC News Pidgin on April 16, 2025.
CBEX, a digital trading platform, promised investors a 100% return on investment within 30 days, luring thousands before collapsing on April 14, 2025, per a Naija News report.
The EFCC began investigating CBEX before its collapse, with Oyewale confirming the agency is also working with the FBI to trace both local and foreign operators behind the scheme, as reported by BBC News Pidgin on April 16, 2025.
In Ibadan, frustrated victims stormed CBEX’s office in Oke Ado, looting furniture and equipment in protest, according to The Will News on April 16, 2025.
In Ibadan, frustrated victims stormed CBEX’s office in Oke Ado, looting furniture and equipment in protest, according to The Will News on April 16, 2025.
The EFCC is simultaneously probing other Ponzi schemes across Nigeria, with Oyewale stating the agency aims to protect citizens from similar fraudulent platforms.
CBEX had demanded users deposit between $100 and $200 to access their funds, a move many investors initially believed was a glitch, per Naija News.
The EFCC has issued prior warnings about suspicious investment companies, listing 58 firms under investigation, as noted in The Will News.
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