The Economic and Financial Crimes Commission has confirmed the recovery of some funds from CryptoBank Exchange, the digital investment platform at the center of a massive investment fraud case involving billions of naira.
EFCC Chairman, Ola Olukoyede, made the disclosure while responding to questions during an interview on Television Continental.
Earlier reports indicated that thousands of Nigerians had lost investments estimated at ₦1.3 trillion following the collapse of CBEX, a platform that had promised investors a 100 per cent return on investment within 30 days. The platform’s crash left investors unable to access funds in their digital wallets.
During the interview, Olukoyede revealed that arrests have been made in connection with the scheme. He added that the commission is actively pursuing additional suspects who remain at large, as part of an ongoing and extensive investigation.
“We have gone far. We have made a reasonable arrest. We have also been able to recover a reasonable amount of money. We are not going to give out much because we don’t want the process to be disrupted. We are still after quite a number of people we have declared wanted,” he said.
The EFCC chairman emphasized that while progress has been made, efforts to bring all perpetrators to justice remain underway.
