The Economic and Financial Crimes Commission (EFCC) has declared two more individuals wanted in connection with the alleged N1.3 trillion Crypto Bridge Exchange (CBEX) scam, bringing the total number of suspects to eight.
In a notice on its X account on Wednesday, the commission declared Folashade Odelana and Bamidele Ayodele Abiodun wanted as it continues its investigation into the matter.
The two persons are accused of orchestrating fraudulent activities that led to significant financial losses for unsuspecting investors.
The anti-graft agency asked members of the public with useful information on the whereabouts of the suspects to come forward.
Six persons initially declared wanted
The EFCC had previously declared six other suspects wanted, including Seyi Oloyede, Emmanuel Uko, Adefora Oluwanisola, Adefora Abiodun Olaonipekun, Johnson Okiroh Otieno, and Israel Mbaluka, all linked to the CBEX platform.
Additionally, a foreign national, Elie Bitar, was declared wanted for his alleged role in the scam.
Bitar’s last known address is Eng. George Enemoh Crescent, Lekki Phase 1, Lagos State. He was later removed from the wanted list.
Tracking down suspects
The EFCC has emphasized its commitment to tracking down individuals involved in cyber-related financial crimes, particularly within the rapidly growing digital asset space.
The Commission is pursuing others who are on the run, according to its chairman, Olukayode.
The investigation is ongoing, with the EFCC working to recover part of the money invested by Nigerians in the collapsed Ponzi scheme.
What you should know
CBEX is a digital investment platform operated by a group of foreign nationals in partnership with Nigerian collaborators that collapsed in April, leaving thousands of investors stranded and unable to access their funds.
- The platform, which had promised 100% returns within 30 days through online trading, first restricted withdrawals on April 9, 2025.
- Many users initially believed the issue was a temporary glitch until their account balances suddenly vanished.
The EFCC’s efforts aim to bring those responsible to justice and provide relief to affected investors.
