Nigeria, May 27 -- The Economic and Financial Crimes Commission (EFCC) said it has recovered a portion of funds from the collapsed digital investment platform, Crypto Bridge Exchange (CBEX).

It has also arrested persons connected to the massive fraud, the agency's Chairman, Ola Olukoyede, said in a televised interview with TVC on Sunday.

Mr Olukoyede said the commission has made "significant progress" in its ongoing investigation of the Ponzi scheme, which scammed thousands of Nigerians out of an estimated N1.3 trillion.

"We have gone far with CBEX. We have been able to recover a reasonable amount of money," Mr Olukoyede said.

He explained that although the stolen funds were in cryptocurrency, the EFCC has successfully traced and reco...