EFCC Arrests 2 Over N1.3 Trillion CBEX Scam in Nigeria: Full Details Revealed
In a dramatic development that has gripped national attention, the Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of two individuals in connection with the massive N1.3 trillion CBEX scam. This is being described as one of the biggest financial fraud cases ever uncovered in Nigeria.
According to credible sources within the EFCC, the suspects are believed to have masterminded an elaborate Central Bank Exchange (CBEX) fraud scheme that defrauded investors and institutions through fake documentation, phony investment channels, and high-level deception…….CONTINUE READING
The suspects allegedly used fake platforms and investment offers disguised as CBEX deals to lure unsuspecting victims into parting with their funds. The scam, which ran for months undetected, caused significant financial losses and raised national concerns over digital financial security and regulatory oversight.
EFCC operatives reportedly moved in on the suspects following months of intelligence gathering and surveillance. They were picked up in Lagos and Abuja in coordinated sting operations.
“This case is a strong warning to economic saboteurs that Nigeria is no longer a safe place for fraudulent activities,” said an EFCC official who requested anonymity.
News of the arrest sparked widespread excitement and hope among citizens who have long called for stricter enforcement against economic and financial crimes. Social media platforms have been buzzing with reactions, as many Nigerians express relief that justice may finally be served.
EFCC has confirmed that investigations are still ongoing, and more arrests may follow as new evidence comes to light. The agency has also urged the public to be cautious and report any suspicious investment schemes to the appropriate authorities.
The N1.3 trillion CBEX scam is a sobering reminder of the scale and sophistication of financial fraud in Nigeria. As EFCC continues its crackdown, the nation watches closely, hoping this will set a new standard in the fight against economic crimes.
