In a statement today, Dele Oyewale, the spokesperson for Nigeria’s Economic and Financial Crimes Commission (EFCC), reassured investors affected by the Cbex scheme that efforts are underway to recover their lost funds.
Speaking during an appearance on Channels TV, Oyewale acknowledged the distress caused by the scheme, which has been labeled a Ponzi operation, prompting concerns among investors about their financial futures.
The EFCC has taken a firm stance on the matter, emphasizing that it is not the commission’s intention to allow investors to suffer due to their involvement in high-risk schemes like Cbex. Oyewale stated, “We understand the plight of these investors and are committed to ensuring they receive their money back.” He highlighted the commission’s proactive measures, which include collaborating with Interpol and other international organizations to trace the missing funds.
Despite the optimism expressed by the EFCC, Oyewale cautioned that the recovery process may be lengthy. He urged investors to remain patient as the commission navigates the complex process of fund recovery, which often involves cross-border investigations and legal proceedings.
The Cbex scheme has raised significant alarm within Nigeria, as many individuals seek to reclaim their investments in the wake of the scheme’s collapse. The EFCC’s commitment to addressing this issue reflects a growing awareness of the need for greater regulatory oversight in the financial sector, particularly concerning investment schemes that promise high returns with minimal risk.
As the situation develops, investors are encouraged to stay informed and exercise caution in their future investment decisions, particularly in light of the growing prevalence of Ponzi schemes in the market. The EFCC’s ongoing efforts may provide a glimmer of hope for those affected, but the path to recovery remains uncertain.