We Are Working On It, CBEX Investors Will Get Their Money Back – EFCC Sparks Hope

The Economic and Financial Crimes Commission (EFCC) has assured investors in the ill-fated trading platform known as CBEX that they would get their money back.

The assurance was given on Wednesday by the spokesperson for the EFCC, Dele Oyewale, while speaking during an interview with Channels Television.

He added that before the collapse of the digital trading platform, the EFCC had warned Nigerians to be wary of such ponzi platforms, but unfortunately, many Nigerians didn’t heed their warning.

Oyewale noted, however, that as a responsible agency, the EFCC had started profiling the platform before it collapsed and with the recent collapse, the anti-graft agency is partnering with other international security agencies to track those behind the scheme and ensure investors recover their funds.

Naijaonpoint reports that CBEX, which promised investors a 100 percent return on investment, began experiencing trouble last weekend as many could no longer withdraw their funds.

Speaking on the development, the EFCC spokesman said many Nigerians have been besieging them with calls and visits, and the agency is actively working on how the numerous ‘investors’ would get their money back.

Oyewale added that the recovery may take some time.

“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 March 11 this year, the executive chairman of the EFCC, Mr. Ola Olukoyede, had called to instruct us to alert Nigerians,” Oyewale said.

Beware Of Ponzi Schemes

The spokesperson recalled how the EFCC warned Nigerians to be wary of about 58 Ponzi scheme companies.

He added that the EFCC would not just sit back but would do everything within its power to recover the funds lost by those who invested in the crashed CBEX platform.

“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 said, despite the assurances, the recovery is not a short-term process and 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 their money back, and we are already working on that. Everything 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 added.