The Nigerian House of Representatives has strongly condemned the fraudulent activities associated with CBEX, a cryptocurrency platform that has reportedly defrauded thousands of Nigerians. In a statement issued today, the House expressed deep sympathy for the victims of this financial scam and vowed to take decisive action to prevent such occurrences in the future.
The House of Representatives emphasized the devastating impact of the CBEX fraud on individuals and families across the nation, many of whom invested their life savings in the platform, only to face financial ruin. Members of the House described the situation as a "wake-up call" for stronger regulatory oversight in the cryptocurrency sector.
In response to the crisis, the House has called for a comprehensive crackdown on fraudulent cryptocurrency platforms operating within Nigeria. This includes enhanced collaboration between law enforcement agencies, financial regulators, and international partners to identify and prosecute those responsible for the CBEX scam.
The House also urged the Central Bank of Nigeria (CBN) and other relevant authorities to implement stricter measures to protect citizens from similar schemes in the future. Recommendations include public awareness campaigns about the risks of cryptocurrency investments and the establishment of a dedicated task force to monitor and regulate digital asset platforms.
"The Nigerian people deserve a financial system that is transparent, secure, and accountable," said a spokesperson for the House of Representatives. "We will not tolerate any entity that seeks to exploit our citizens through deceit and fraud."