Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering, SCUML.
However, EFCC stated that ST Technologies and not CBEX registered with SCUML, saying that the certificate didn’t imply clearance by the Commission.
The clarification comes after Lesley Kessy Oviritsa, one of the victims of the CBEX Ponzi Scheme said she fell prey to CBEX after seeing and verifying its CAC and SCUML Certificate.
Oviritsa claimed they had no reason to suspect foul play, especially since they claimed their SEC certificate would be ready by May 2025.
Nigeria CommunicationsWeek reported how CBEX swept over N1.3 trillion from their investors’ accounts.
In a post on its official handle on X on Monday, EFCC said the Commission is not a clearing house or regulatory authority of online businesses.
The post read: “SCUML Certificate Is Not CLEARANCE BY EFCC.
“ST Technologies (not CBEX) registered with the Special Control Unit against Money Laundering, SCUML in line with Section 17 of the Money Laundering, (Prevention & Prohibition) Act, 2022.
“Registration is a statutory requirement for all Designated Non-Financial Businesses and Professions, DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism, AML/CFT regime.
“The EFCC is not a clearing house or regulatory authority of online businesses.
“But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.”
