On May 26, 2025, the Economic and Financial Crimes Commission (EFCC) announced significant progress in the N1.3 trillion CBEX cryptocurrency fraud investigation. EFCC Chairman Mr Ola Olukoyede revealed that the agency recovered substantial funds and made several arrests linked to the fraudulent scheme.
The CBEX fraud case has drawn widespread attention due to its scale and impact on investors. Olukoyede, a key official, emphasized the EFCC’s commitment to tackling financial crimes and restoring public trust in the financial system.
As investigations continue, the EFCC urges the public to remain vigilant against crypto-related scams. This development highlights the ongoing battle against financial fraud in Nigeria and the importance of regulatory oversight in the cryptocurrency space.
