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“We warned Nigerians” – EFCC Says After CBEX Crash
The Economic and Financial Crimes Commission (EFCC) has said many Nigerians ignored its repeated warnings about digital trading platforms like CBEX.
Speaking on Channels Television, EFCC spokesperson Dele Oyewale explained that the Commission had made efforts to educate the public on the risks of such platforms long before the recent crash.
CBEX, an online trading company with links to China, reportedly collapsed on Monday, locking investors out of their funds and resulting in an estimated N1.3 trillion loss. Videos have since circulated showing victims expressing frustration and heartbreak over their lost savings.
Oyewale stressed that the EFCC had previously published a list of 58 suspicious investment companies, warning citizens to steer clear. He said this was part of their effort to prevent scams and protect the public.
He emphasized that CBEX never had any real, registered presence in Nigeria, despite claims of physical offices in places like Ibadan. He also noted that the company operated entirely online and lacked any legal ties to Nigeria.
According to Oyewale, the Commission had done its part by creating awareness and alerting Nigerians to the risks. “The rest is for people to be cautious and protect their money,” he said.
He also pointed to the newly introduced Investment and Securities Act 2025, which now makes it a criminal offense to engage in digital trading without proper licenses and compliance with Nigerian law.
It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.
The incident was reported to have occurred on June 8 at about 11 p.m.
Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.
The rising cases of insecurity in the country remain quite alarming.
The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.
It has been reported that some parents have started withdrawing their children from schools in Abuja.
It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.
While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.
It has been rumored that bandits have made their way to Lagos, and allegedly they were spotted in Ibeju-Lekki, where some residents became suspicious of them and reported the matter.
A clip of the group of men went viral online, and many people became concerned. Whether true or not, fear has been sparked among Lagosians as they worry that bandits may already be in the state. Even if the reports remain unconfirmed, many believe it is still a possibility worth paying attention to.
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