The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said the Commission is unable to help victims of the CBEX sc@m recover their lost investments.
CBEX, also known as Crypto Bridge Exchange, abruptly shut down last Monday, disappearing with an estimated N1.3 trillion belonging to around 600,000 investors. The platform operated under the name ST Technologies International Ltd and had promised investors 100 percent returns within 30 days.
Speaking to Sunday Vanguard, Dr. Agama stated plainly, “There is nothing the Commission can do,” in response to whether any form of recovery was possible. He expressed concern that such a large-scale operation went unreported for so long.
“We are worried that this went on for long without anyone drawing our attention to it,” he said, adding that the SEC is now intensifying public awareness to encourage early reporting of suspicious investment schemes.
He cautioned Nigerians against falling for Ponzi schemes, noting that unrealistic returns are often a clear red flag. “The Investments and Securities Act, 2025, defines Ponzi schemes as those offering promises that are clearly unattainable,” he explained.
About The Author
![‘He loves me’ – Tiwa Savage sparks dating rumours with Usher [VIDEO]](https://osmeknews.com/wp-content/uploads/2025/05/Tiwa-Savage-Ucher-1024x435-1-670x285.jpg)