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EFCC Launches Probe Into Alleged N1.3tn Crypto Fraud

Stanley Uhegbu by Stanley Uhegbu
April 16, 2025
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Discovery of N700B at Residence of El-Rufai’s Son, False -EFCC

Photo Credit: EFCC via Facebook

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The Economic and Financial Crimes Commission (EFCC) has opened an investigation into an alleged N1.3 trillion fraud linked to a digital investment platform, CryptoBank Exchange (CBEX).

The platform, operated by a group of foreign nationals alongside Nigerian collaborators, reportedly collapsed on Monday, leaving thousands of investors unable to access their funds.

EFCC spokesperson Dele Oyewale confirmed on Tuesday that the commission would work with the International Criminal Police Organisation (INTERPOL) to investigate the matter.

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