The Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, has revealed that the agency has recovered some money from the digital investment platform Crypto Bridge Exchange trading platform.
Olukoyede also disclosed that the EFCC has made arrests in connection with the CBEX fraud.
The EFCC boss revealed this in an interview with TVC on Sunday.
He added that the EFCC has made significant progress in its investigation into the crypto scheme that scammed many Nigerians.
“We have gone far with CBEX. We have been able to recover a reasonable amount of money,” he said.
Olukoyede explained further that although the stolen money was in cryptocurrency, the EFCC has managed to trace and recover part of it.
However, he noted that converting the funds back to dollars in cash was not easy because it required going through similar crypto processes.