EFCC and Interpol has commenced probe into the N1.3 Trillion CBEX Investment Scam.
NaijaOnPoint Nigeria reports that the Economic and Financial Crimes Commission (EFCC) in collaboration with Interpol has reportedly launched an investigation into an alleged N1.3 trillion digital investment scam involving the controversial CBEX Trading platform.
The move comes after the sudden collapse of the platform on Monday, which has left thousands of Nigerian investors in shock and confusion.
CBEX, a digital investment company reportedly operated by a group of foreign nationals alongside their Nigerian collaborators, is at the center of what is shaping up to be one of Nigeria’s biggest financial fraud cases in recent years. The platform had promised high returns on investments, luring in a wide base of unsuspecting citizens who now fear their funds may be gone for good.
According to early findings, the massive financial loss which has been estimated at over N1.3 trillion was orchestrated through deceptive online schemes and false investment guarantees.
The EFCC has confirmed that it is working with international partners, including Interpol, to track down all parties involved and recover stolen funds where possible.
The commission has also urged members of the public who may have invested in CBEX to come forward with evidence to aid the investigation. As more details unfold, this high-profile case is expected to spark renewed calls for tighter regulation of digital financial platforms in Nigeria and across Africa.