“If you do, you might earn temporary riches, which ultimately will land you in infamy,” Mr Olukoyede said.
SEC said scammers were targeting unsuspecting investors with promises of guaranteed profits and fake celebrity endorsements.
Mr Olukoyede lamented Africa’s growing loss to illicit financial flows.
The judge had, on April 24, given the EFCC the go-ahead to arrest and detain six operators of CBEX over their involvement in the fraud.
The Nigerian said that many investors were convinced to invest in the scheme through several means.
The EFCC boss said the principal parties involved in the Ponzi scheme are foreigners, noting the commission would not be able to restore every victim affected.
Emomotimi Agama, the director-general of SEC, said the move was to educate people on the dangers of Ponzi schemes.
To lure the unsuspecting public, CBEX avoided being regarded or seen as a “Ponzi scheme, projecting itself as a digital trading investment platform.
The Ponzi scheme, cloaked as a digital trading investment platform, claimed to double the deposit balance of investors within 40 days.
