EFCC Chairman Olukoyede: We’ve Recovered Significant Funds from CBEX, Including Crypto

The Economic and Financial Crimes Commission (EFCC), led by Chairman Ola Olukoyede, has recovered a significant amount of funds from the Crypto Bridge Exchange (CBEX), a digital investment platform that defrauded Nigerians of over ₦1.3 trillion.

Olukoyede, in a TVC interview, confirmed that the recovered funds, primarily in cryptocurrency, were traced despite challenges with non-custodial wallets lacking KYC identification.

The EFCC has made arrests, with some suspects in custody and others still wanted, as the investigation continues. Converting the crypto to cash remains complex, and full recovery may be impossible due to funds being dispersed across international wallets, including in Europe and Cambodia.