Following the crash of Crypto Bridge Exchange (CBEX), the Economic and Financial Crime Commission (EFCC) has launched a full-scale investigation to unravel the hoodlums behind the whopping loss of N1.3 trillion naira.
Disclosing the body’s success thus far, a source reported that two individuals linked to the investment platform have been apprehended, with the EFCC vowing to conduct a detailed investigation to nab the remaining members of the gang.
Speaking in a briefing, an officer expressed thus:
“This is a multi-dimensional probe. We have started preliminary investigation with the two suspects. Itโs about how CBEX found its way into Nigeriaโs digital asset space, who set it up, who funded it, and which financial institutions were used.โ
Ola Olukoyede, the EFCC Chairman, said he is personally spearheading the investigation to ensure that the fraudsters are apprehended.
The body, however, has maintained confidentiality regarding the disclosure of the identities of those apprehended, as it has the potential to sabotage the investigation process.
As the investigation intensifies, the Securities and Exchange Commission (SEC) has responded to the backlash from netizens who disparaged it for failing to flag CBEX sooner.
“The first responsibility of the SEC is to watch over regulated institutions within the confines of its available resources,โ Agama stated, dismissing reports that CBEX was seeking approval. โSuch assertions are totally untrue, in capital letters.โ
Dr. Emomotimi Agama, the Director-General of SEC, clarified that the platform was never registered with the commission โ a key requirement for regulation.
When probed on whether the N1.3 trillion invested by investors will be recovered, Dr. Agama noted that investors will get whatever amount of money the EFCC is able to recover.
Dr. Agama equally sent a stern warning to online influencers and bloggers who promote illegal investment schemes.
โIf you are a blogger, you are an influencer, and you help in participating in this kind of fraudulent activityโฆ the sanction is N20 million in the first instance, and 10 years imprisonment.”
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