The Central Bank Exchange (CBEX) has resumed operations just weeks after being sanctioned by Nigeria’s Securities and Exchange Commission (SEC) and facing an ongoing investigation by the Economic and Financial Crimes Commission (EFCC) over an alleged N1.2 trillion fraud.

Despite regulatory pressure and public scrutiny, CBEX reopened its trading platform on Monday, assuring users that their assets are secure and that the company is cooperating fully with authorities. In a statement, CBEX said it had “resolved internal compliance issues” and implemented new oversight measures to restore investor confidence.

The SEC had earlier ordered a suspension of CBEX’s activities, citing violations of securities laws and failure to register as a recognized trading platform. Meanwhile, the EFCC launched a probe into financial irregularities linked to top CBEX executives, including suspected embezzlement and money laundering.

Sources close to the investigation say the EFCC is tracking transactions involving both corporate and politically exposed accounts, with the total value of questionable flows estimated at over N1.2 trillion.

Investor response to the reopening has been mixed. While some have welcomed the return of trading services, others remain wary, calling for more transparency and third-party audits.

CBEX has not confirmed whether its executives under investigation remain in their roles, but it maintains that “business continuity is a priority” and that it is “working diligently to comply with all legal obligations.”

The SEC has yet to issue an updated position on CBEX’s relaunch, while the EFCC investigation is still ongoing.