EFCC invites victims of CBEX scam to report their cases

The Economic and Financial Crimes Commission (EFCC) has called on victims of the fraudulent cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), to report their cases to its Ibadan and Lagos Zonal Directorates to aid ongoing investigations

In a statement on Friday by EFCC’s Head of Media and Publicity, Dele Oyewale, the agency disclosed that three suspects — Adefowora Olanipekun, Otorudo Avwerosuo, and Ehirim Chukwuebuka — are already being prosecuted over their alleged roles in the scheme.

According to the EFCC, CBEX deceived unsuspecting Nigerians by promising unrealistic returns on investments, causing heavy financial losses to many investors.

“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,” the statement read.