The Economic and Financial Crimes Commission (EFCC) has committed to recovering the substantial losses suffered by Nigerians in the alleged N1.3 trillion CryptoBank Exchange (CBEX) scam, vowing to take swift action in collaboration with international law enforcement agencies, including Interpol.

In an interview with Channels Television, EFCC spokesman, Dele Oyewale, assured the public that the commission would not abandon victims of the scheme, stating unequivocally, “Investors are going to get their money back. And we are already working on that.”

Oyewale emphasized that the EFCC was fully engaged in efforts to trace and apprehend those responsible for the fraudulent scheme, asserting that there was no excuse for neglecting the victims.

The CryptoBank Exchange, a digital investment platform that had promised significant returns, recently collapsed, leaving thousands of Nigerians unable to access their invested funds.

The platform, which initially promised 100% returns within 30 days, first restricted withdrawals on April 9, 2025.

As the situation escalated, users were instructed to deposit additional funds to regain access to their accounts, an unusual demand that raised suspicions.

Despite the growing red flags, new users continued to sign up, unaware that the platform was on the brink of shutting down.

In response to the situation, Oyewale stated that the EFCC was working closely with Interpol and international development agencies to ensure those behind the fraud are held accountable.

He assured Nigerians that while the recovery process might not be swift, the EFCC was committed to bringing justice to the victims and returning their lost investments.

“Escapism is not a solution to any problem,” he said, emphasizing the EFCC’s professionalism and determination in addressing the scam.

The spokesman also urged Nigerians to exercise caution in future investments, stressing the importance of conducting thorough checks before committing funds to online platforms.

Despite the ongoing investigation, the EFCC’s partnership with international agencies provides hope for the eventual recovery of the lost funds, and Oyewale remains confident that the perpetrators will face justice.