CBEX: EFCC, INTERPOL Launch probe

The Economic and Financial Crimes Commission has launched an investigation into the alleged N1.3tn frauds perpetrated through a digital investment platform, CryptoBank Exchange.

CBEX, operated by a group of foreign nationals in collaboration with their Nigerian partners, reportedly collapsed on Monday, leaving thousands of investors stranded and unable to access their funds.

The EFCC spokesman, Dele Oyewale, confirmed to news men on Tuesday that the commission would collaborate with the International Criminal Police Organisation to investigate the incident.

Oyewale stated that the agency had already begun investigating CBEX before its collapse.

He added that efforts were underway to arrest both the local and international operators behind the fraudulent scheme.