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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.
Nigerian news analyst, Mahmud Jega, has shared his opinion on the recent airstrike carried out by the United States in Nigeria, stating that Nigerians should not blame President Bola Tinubu for the incident.
Jega made this statement during a recent interview, where he said he does not believe many people will hold the Tinubu administration responsible, as Donald Trump had issued threats against Nigeria long before Tinubu’s administration.
“No, I don’t think many people will blame the Tinubu administration for what is happening now because President Donald Trump, when he first made the threats, it was clearly not in coordination with the Tinubu administration or the government of Nigeria,” Jega said.
It has been reported that the United States carried out an airstrike targeting ISIS in the northwest region of Nigeria. The order was reportedly given by former U.S. President Donald Trump.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist elements in northwest Nigeria,” Trump said.
He added, “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.”
The Federal Government of Nigeria has officially declared the holiday dates for the festive season.
Thursday, December 25 will be observed as Christmas Day, December 26 as Boxing Day, and Thursday, January 1 as New Year’s Day.
The declaration was made by the Permanent Secretary of the Ministry of Interior, Dr. Magdalene Ajani. He also added that Nigerians should celebrate the holidays in faith and pray for the nation.
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