The Economic and Financial Crimes Commission (EFCC) has heightened efforts to unravel the massive financial fraud tied to the now-defunct Crypto Bridge Exchange (CBEX) by officially declaring four individuals wanted in connection with the alleged scam.
The suspects—Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede—were listed in a public notice released on Friday through the commission’s verified social media handles. According to the EFCC, the quartet is linked to fraudulent activities conducted through the CBEX platform, which operated as a digital trading exchange.
This announcement comes on the heels of a Federal High Court ruling in Abuja, where Justice Emeka Nwite authorized the detention of six promoters of CBEX. The order was granted following an ex parte application filed by EFCC counsel, Fadila Yusuf. The court’s directive enables the commission to hold the individuals as investigations into the case progress, with potential charges to follow.
CBEX collapsed in April, allegedly defrauding investors of over ₦1.3 trillion—a staggering loss that left thousands of Nigerians in financial ruin. The incident has rekindled discussions on the growing vulnerability of citizens to digital investment scams and the urgent need for tighter regulations in the cryptocurrency space.
The EFCC’s recent actions mark a significant step toward accountability in one of the largest alleged crypto frauds in the country’s history.
