The Economic and Financial Crimes Commission (EFCC) has announced that eight individuals are now wanted in connection with the CBEX scam — one of the latest and most painful fraud schemes to hit Nigerians. CBEX had promised ordinary people the dream: invest in a “guaranteed” crypto and forex platform, and watch your money double in weeks. For many Nigerians facing unemployment, inflation, and a collapsing economy, it sounded like a lifeline. Instead, it became a nightmare.
When the platform vanished and withdrawals froze, hundreds were left stranded. Life savings, small business funds, student fees — gone. The EFCC’s move to declare the masterminds wanted is a step toward justice, but for many victims, it feels like too little, too late. Trust has been shattered, hope drained. The faces of those declared wanted now circulate across media platforms, a cruel reminder that in desperate times, predators often disguise themselves as saviors.
Beyond chasing down the culprits, the CBEX scandal raises bigger questions: why are Nigerians still so vulnerable to these scams? Why are financial regulations so weak that such massive frauds can thrive? And how long will it take for a system that protects citizens, not just punishes criminals after the fact, to emerge? For now, the EFCC’s manhunt offers a small sliver of hope to victims who lost more than just money — they lost faith.
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