According to the Economic and Financial Crimes Commission (EFCC), investors in the Ponzi scam CBEX digital trading platform will get their money back.

Speaking on Channels TV’s Morning Brief on Wednesday, EFCC spokesperson Dele Oyewale made this clear.

“We are working with Interpol to ensure that these people are brought to book and investors get their money back. We are working on that. This thing could have been averted, but be it as it may, it was not averted. We are not going to throw our hands helplessly and say there is nothing the EFCC can do,” he said.

Refunds are expected eventually, he said, even though they might not materialize right away.

He said that the commission is trying to make sure that Nigerians who invested in the platform are refunded.

“Investors will get their money back. It might not be in the short term, but I can assure you that the commission, as the leading anti-corruption agency in Nigeria, will not allow investors to lose their money like that”.

According to reports, CBEX is a cryptocurrency exchange that is registered in Canada. Further investigations on Canadian business registry platforms, however, show that CBEX is not formally registered in Canada, even though Yahaya Ibrahim, the company’s CEO, has allegedly stated that it has its headquarters there.

[As detailed in other viral reports earlier] when the CBEX platform collapsed, a mob of angry people looted its headquarters in Ibadan, Oyo State’s Oke Ado neighborhood. Mobs broke into the building and took out equipment and furnishings during the Monday evening attack.

According to eyewitnesses, the incident was caused by the sudden crash of the platform, which reportedly wiped out user account balances and rendered many investments worthless.

Following the collapse, affected users shared stories of lost funds and dashed dreams on social media with frustrations and grief.

-Deeprows News