The Economic and Financial Crimes Commission (EFCC) has assured individuals who invested in the CBEX digital trading platform that they would recover their funds.
The Economic and Financial Crimes Commission (EFCC) has assured victims of the collapsed CBEX trading platform that their investments will be recovered, disclosing it had been monitoring the scheme before public outcry. EFCC spokesperson Dele Oyewale confirmed on Channels TV that the agency had profiled CBEX as a potential Ponzi scheme, citing Chairman Ola Olukoyede’s March 11 public warning about such platforms.
Oyewale stated: “Our dragnet is wide…we were tracking that digital trading platform,” following violent protests by defrauded investors who looted CBEX’s Ibadan office. The platform, which promised 100% returns, blocked withdrawals last weekend, triggering nationwide outrage.
READ THE FULL STORY IN BUSINESS DAY