EFCC has invited CBEX victims to its offices - Here is why

The Economic and Financial Crimes Commission (EFCC) has informed Nigerians who suffered financial losses to the fraudulent online scheme on the Crypto Bridge Exchange (CBEX) platform to appear at its office.

In a notice issued by its Head of Media and Publicity, Dele Oyewale, on Friday, August 22, 2025, the anti-graft agency asked the CBEX scam victims to report to the zonal offices in Ibadan and Lagos.

Recall that hundreds of Nigerians lost roughly N1.2 trillion when the digital investment platform crashed in April of this year. At the time, CBEX administrators had claimed that the total wipeout of investor funds was due to a failed artificial intelligence trading cycle.

Following the incident, the EFCC went to work and apprehended a number of suspects linked to the monumental scam, while other suspects who are on the run have been declared wanted.

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Though the Commission expressed doubts that victims will recover their money, it pledged its total commitment to prosecuting everyone involved and secure justice for the affected Nigerians.

In the Friday notice, the anti-graft agency announced that it has begun the prosecution of three suspects for their alleged involvement in the CBEX scam.

Meanwhile, the EFCC stated that it requires the assistance of victims who invested their funds through individuals linked to the CBEX offices in Ibadan and Lagos to bring the investigation to a successful conclusion.

It urged those individuals to report to its Ibadan Zonal Directorate (16A, Reverend Oyebode Crescent, Iyaganku, Ibadan, Oyo State) and Lagos Zonal Directorate 2 ( 7A, Okotie-Eboh Street, Ikoyi, Lagos).

"The Economic and Financial Crimes Commission, EFCC, is currently prosecuting three suspects, ADEFOWOARA ABIODUN OLANIPEKUN, OTORUDO AVWEROSUO AND EHIRIM JUSTICE CHUKWUEBUKA, regarding their alleged involvement in the fraudulent online cryptocurrency trading platform called Crypto Bridge Exchange( CBEX)," the notice read.

"The scheme led to serious financial losses to Nigerians who invested their funds with a promise of unrealistic returns on investment.

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"In view of the foregoing and the need to assist the Commission in its ongoing investigation, the EFCC is inviting victims who invested their funds through individuals linked to the CBEX offices in Ibadan and Idimu, Lagos, to report to its Ibadan Zonal Directorate and Lagos Zonal Directorate 2."