CBEX: ‘You never told anybody when you were getting 100%’ – EFCC boss slams investors

Chairman of the Economic Financial Crimes Commission, Ola Olukoyede, has told victims of the crashed ponzi scheme, CBEX, not to expect too much from the commission.

He also criticized investors in the ponzi scheme, saying they never said anything when the going was good but now drags the EFCC into the matter.

Speaking on Channels Television on Wednesday night, the EFCC boss said the CBEX case is a peculiar issue, since, according to him, it is an international racket that the Commission has traced to three, four countries.

He also revealed that the principal parties behind the entire scheme are mostly foreigners.

DAILY POST reports that a lot of Nigerians are in pains at the moment after they lost their money through the fraudulent scheme called CBEX.

On why the EFCC was not able to stop the operation of the fraudulent scheme, Olukoyede said,

“The case of crypto bridge exchange, also known as CBEX it’s a peculiar case. You will recall that shortly before then, but probably two, three weeks before then, EFCC came up, or came out with a report and publication of about 58 names of companies, I think that we have investigated, we have compiled records, we have filed charges against so quite a number of them.

“As a matter of fact, before we released that publication, we have secured convictions against several of them, and so many cases are nearly being completed.

“So we published their names, 58 companies, Nigerians beware. Unfortunately, CBEX was not captured in that report.

“And you know what, when the going is good. Nobody makes noise, nobody talks. But it is when the bubble burst that EFCC is dragged into it.

“There is no way. We don’t have any magic wand to start looking for cases where people have invested, whether it is it is right or wrong, whether this will lead to fraud or not, we don’t have, we do not have such a one.

“So we wait, most times until the bubble burst that the ones we are able to get intelligence on, that’s part of the 58 that we have released.

“So this one, some people got into it. They never told anybody when they were getting 100% on their deposit. when the going was good, nobody reported to EFCC but when the bubble burst, EFCC was dragged into it.

“Yes, we have eagle eye, but our eagle eye will only capture what is within the range of our intelligence, what is outside that and what people don’t report to us, we don’t have any means of knowing.

“So like I said, it’s a very pathetic case for Nigerians who have lost their money, lost their investment, and that’s why my spokesperson, if you listen to one of the interviews, did make big promise on behalf of EFCC that we are going to do everything possible, and we are really doing everything possible right now.

“We have about three people in our custody that have made very useful statements. Unfortunately, the transactions were mainly in crypto.

“So, we have been so committed to this investigation because we have promised Nigerians, we have gone deep, we have gone far. We have established contact with our foreign counterparts, and we’ve been able to make some inroads.

“For example, I tell you, I’ve been able to block some accounts, we have been able to freeze some funds.”

Asked if there is the assurance that Nigerians may get their moneys back, the EFCC boss said, “Investigating a criminal case is not easy. It’s really not for you to sit down to say they are going to restitute you fully. Nobody will promise you that.

“The intent of my spokesperson was that, look, we will do everything possible to rescue the situation. And I’ve just told you now we are going to do everything possible, but I will not sit down and tell you and promise that we are going to restitute every victim.

“Now, in fact, the principal parties behind the entire scheme, most of them are foreigners. Those are not within our jurisdiction. And you know what that entails.

“It took our proficiency, to be able to even freeze some assets that we’ve done now. And so yes, we are, we’ve embarked on that journey. Whatever we can get back, we will get it back, and we’ll let Nigerians know, but we will not be able to confirm that we will restitute every victim. That may be practically impossible.”

CBEX: ‘You never told anybody when you were getting 100%’ – EFCC boss slams investors