CBEX scandal: EFCC, SEC mention what they will do to Ponzi schemes

• The Economic and Financial Crimes Commission (EFCC) said CBEX investors are going to get their wealth back
• The Securities and Exchange Commission (SEC) said it volition commence probe arsenic to wherever the operators are and hunt them down
• The 2 national authorities agencies person vowed to hunt down operators of Ponzi schemes crossed the country

Legit.ng journalist, Adekunle Dada has implicit 8 years of acquisition covering metro, authorities policy, and planetary issues

FCT, Abuja - The Economic and Financial Crimes Commission (EFCC) and the Securities and Exchange Commission (SEC) person taken steps to dismantle Ponzi schemes nationwide pursuing the illness of the integer assets platform, CBEX.

The EFCC and SEC person vowed to hunt down operators of Ponzi schemes nationwide.

EFCC, SEC committedness to hunt down operators of Ponzi schemes aft illness of CBEX. Photo credit: @officialefcc/X
Source: Facebook

The anti-graft bureau assured that individuals who invested successful the CBEX integer trading level would get their money back.

The EFCC spokesperson, Dele Oyewale, said the anti-graft bureau has received galore calls from Nigerians seeking accusation and remedies regarding CBEX.

According to Oyewale, EFCC had, earlier the outcry, profiled CBEX and alerted Nigerians astir imaginable Ponzi schemes.

Oyewale stated this portion speaking connected Channels TV’s Morning Brief connected Wednesday, April 16, 2025.

“As we talk contiguous astatine this hour, we person not received immoderate ceremonial ailment from anyone regarding CBEX due to the fact that if we had received immoderate ceremonial ailment regarding CBEX, the squad astatine SEC would person swung into enactment to get who and who is involved.“Investors are going to get their wealth back, and we are already moving connected that. Everything I’m saying is that this benignant of happening could person been averted. Be it arsenic it may, it was not averted; we are not going to propulsion our hands retired helplessly and accidental that there’s thing EFCC tin bash astir it.”

The Director-General of SEC, Dr Emomotimi Agama, vowed that the committee would hunt down the fraudsters.

He said SEC had not person immoderate ceremonial complaints astir the collapsed integer assets platform

Agama made this known portion speaking during a unrecorded tv programme connected Arise TV.

“However, we sympathise precise overmuch with the people, the victims, due to the fact that they are Nigerians. And of course, we volition commence probe arsenic to wherever the radical are and besides marque definite we hunt them down due to the fact that the instrumentality has fixed america the powerfulness to instrumentality them down.”

Former Buhari’s adjutant reacts arsenic CBEX collapses

Earlier, Legit.ng reported that a erstwhile statesmanlike aide, Bashir Ahmad, said the Securities and Exchange Commission (SEC) warned Nigerians against investing successful CBEX.

Ahmad said Nigerians ever disregard regulatory agencies' warnings whenever Ponzi schemes are introduced successful the country.

Some Nigerians said SEC should person unopen down CBEX offices and halt citizens from patronising them alternatively than contented warnings.

Tension successful Ibadan arsenic youths loot CBEX bureau

Meanwhile, Legit.ng reported that aggravated youths who have invested successful CBEX stormed the Ibadan bureau pursuing the clang of the platform.

The CBEX investors forcibly entered the premises and carted distant invaluable items from the bureau of the alleged Ponzi scheme.

It was gathered that galore users were allegedly near with zero equilibrium successful their accounts aft the level crashed.

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Source: Legit.ng