The Economic and Financial Crimes Commission (EFCC) has called on Nigerians who suffered financial losses through the now-defunct CryptoBridge Exchange (CBEX) to visit its offices in Lagos and Ibadan to assist in ongoing investigations aimed at securing justice and recovering funds.
This appeal was contained in an official statement issued by the Commission’s Head of Media and Publicity, Dele Oyewale, from the EFCC Zonal Office in Ibadan, the Oyo State capital. According to the Commission, the CBEX platform was nothing more than a sophisticated Ponzi scheme, designed to lure unsuspecting members of the public with promises of outrageous and unrealistic returns on cryptocurrency investments.
Oyewale disclosed that the anti-graft agency is currently prosecuting three individuals—Adefowora Olanipekun, Otorudo Avwerosuo, and Ehirim Chukwuebuka—in connection with the fraudulent investment scheme. The trio is facing multiple charges over their alleged roles in orchestrating the scam that defrauded hundreds of Nigerians across the country.
According to investigations, the suspects operated from offices located in Ibadan, Oyo State, and Idimu in Lagos, where they attracted a large number of investors by promising huge profits on digital assets. However, many victims soon discovered that they could no longer access or recover their invested funds, leading to widespread panic and financial distress.
The EFCC, while reaffirming its commitment to clamping down on financial crimes, urged victims to come forward with evidence and testimonies to support the prosecution of the alleged fraudsters and to assist in the possible recovery of stolen funds.
“Anyone who invested money in the CBEX scheme and has not recovered their funds should report to our Ibadan or Lagos offices. Their cooperation is vital in helping us build a stronger case and facilitate restitution,” Oyewale stated.
The Commission warned the general public to exercise extreme caution when engaging in investment opportunities that promise extraordinary returns, noting that most such schemes are often fraudulent and unsustainable.
As the investigation deepens, the EFCC has pledged to continue its pursuit of justice for victims and reiterated its zero-tolerance stance on economic and financial crimes that threaten the livelihoods of Nigerians.
