• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, May 9, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBEX: ‘You‘ll Get Your Money Back,’ EFCC Assures Investors

by Nafisat Abdulrahman
3 weeks ago
in Business
cbex
Share on WhatsAppShare on FacebookShare on XTelegram

The Economic and Financial Crimes Commission (EFCC) has assured Nigerians that efforts were underway to trace and recover the N1.3 trillion stolen funds from the crashed digital investment platform, CryptoBank Exchange (CBEX).

Advertisement

Speaking on Channels Television’s ‘The Morning Brief’ on Wednesday, EFCC spokesperson Dele Oyewale said the commission had taken proactive steps to educate the public about illegal and unrealistic investment schemes before now.

LEADERSHIP reports that CBEX, a digital trading company of Chinese origin, allegedly crashed on Monday, leaving thousands of Nigerian investors unable to access their funds.

Videos circulating online have shown victims lamenting their losses.

Despite the losses suffered by many investors, the EFCC assured that efforts were underway to trace and recover the stolen funds.

RELATED

Kwara Govt Distributes Tractors, Inputs To Farmers

Kwara Govt Distributes Tractors, Inputs To Farmers

2 hours ago
Airtel Nigeria Doubles Investment To Deepen Network Coverage, Drives Digital Inclusion

Airtel Nigeria Doubles Investment To Deepen Network Coverage, Drives Digital Inclusion

8 hours ago

The commission said it was working closely with international partners, including Interpol.

“It would be very irresponsible and unprofessional of the EFCC to say you have lost your money and there is nothing the commission can do about it,” Oyewale said.

“We’re already working with Interpol and international development agencies to ensure that these people are brought to book. Investors are going to get their money back.”

While he cautioned that recovery may not happen immediately, he insisted the commission would not abandon victims of the scam.

“Escapism is not a solution to any problem. The EFCC, as Nigeria’s leading anti-corruption agency, will not allow investors to just lose their money like that. We are more responsible and professional than that,” Oyewale concluded.

The commission also reiterated its warnings to Nigerians about the dangers of Ponzi schemes, following the collapse of digital investment platform CBEX, which has reportedly defrauded investors of over N1.3 trillion.

“You’ll recall that on March 11 this year, the Executive Chairman of the EFCC, Mr. Ola Olukoyede, instructed us to alert Nigerians about 58 Ponzi scheme companies,” Oyewale said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: CryptoBank Exchange (CBEX)Economic and Financial Crimes Commission (EFCC)
SendShareTweetShare
Previous Post

Reps Summon Ibas Over Rivers’ State Of Affairs

Next Post

Waddibet Offers Unbeatable Betting Odds to Nigerian Fans

Nafisat Abdulrahman

Nafisat Abdulrahman

I am a dedicated reporter at Leadership Newspaper, where I bring a keen eye for detail and a passion for storytelling to a diverse range of topics, including business, sports, politics, and international affairs. My work aims to provide readers with accurate, timely, and engaging reports that break down the complexities of current events. From covering high-profile political shifts and court cases to exploring the latest in economic developments and sporting events, I strive to offer insightful and comprehensive coverage. My stories include in-depth analyses of economic trends, detailed political reports, and human interest pieces that highlight significant global and local events. I am committed to delivering news that informs and fosters a deeper understanding of the issues shaping our world. My goal is to engage readers with well-researched and thought-provoking content

You May Like

Kwara Govt Distributes Tractors, Inputs To Farmers
Agriculture

Kwara Govt Distributes Tractors, Inputs To Farmers

2025/05/09
Airtel Nigeria Doubles Investment To Deepen Network Coverage, Drives Digital Inclusion
Business

Airtel Nigeria Doubles Investment To Deepen Network Coverage, Drives Digital Inclusion

2025/05/08
Understanding Rational Expectations In Financial Markets
Business

Understanding Rational Expectations In Financial Markets

2025/05/08
High Interest Rates: Manufacturers Spend N6.02trn On Debt Repayments
Business

High Interest Rates: Manufacturers Spend N6.02trn On Debt Repayments

2025/05/08
Ministry Approves N200,000 Minimum Wage For Shipping Sector Workers
Business

Blue Economy Policy Guide For Maritime Development – Oyetola

2025/05/08
1.6m Onions Bags Exported Without Record
Business

1.6m Onions Bags Exported Without Record

2025/05/08
Leadership Conference advertisement

Leadership Conference advertisement

LATEST

Adesina, Onanuga And The Matter Of Being Better Off

CONYL Honours CDS For Leading Charge Against Insecurity

Yahaya Bello: No Funds Transfer From Kogi Govt To Abuja School, EFCC Witness Tells Court

Herdsmen Kill Royal Father, Farmer In Benue

Benue Group Petitions Federal Gov’t Over Herdsmen Killings

Natasha: Group Urges Akpabio To Break Silence On Sandra Duru

Alleged Forgery: AGF Files Fresh Charges Against Lawyer, Others

Federal Gov’t Commissions N5.73bn Water Supply Scheme In Yobe

Ododo Urged To Construct Affordable Houses

Kwara Govt Distributes Tractors, Inputs To Farmers

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.