By: Aminu Bello
Date: April 25, 2025
Nigeria’s anti-corruption agency, the EFCC, has launched a manhunt for four individuals linked to the collapse of a controversial cryptocurrency platform, CBEX, which defrauded investors of over ₦1.3 trillion.
The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted for their alleged roles in the fraudulent operations of Crypto Bridge Exchange (CBEX), an online cryptocurrency trading platform that recently crashed, leaving thousands of Nigerians in financial ruin.
The suspects identified by the EFCC are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede. Their wanted notice was shared publicly on the EFCC’s official social media handles on Friday.
“The public is hereby notified that the persons whose photographs appear above are wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX),” the notice read.
This announcement follows a ruling by Justice Emeka Nwite of the Federal High Court in Abuja, who granted the EFCC permission to arrest and detain six CBEX promoters. The ruling came after EFCC’s counsel, Fadila Yusuf, filed an ex parte motion to that effect. The suspects will be held pending the conclusion of investigations and potential prosecution.
Earlier this month, the CBEX platform collapsed unexpectedly, reportedly siphoning off more than ₦1.3 trillion from unsuspecting investors. The crash has caused widespread outrage and reignited concerns about the vulnerability of Nigerians to get-rich-quick investment scams disguised as digital financial innovations.
The EFCC’s action is seen as a critical step in addressing the growing wave of online financial crimes, especially those taking advantage of the cryptocurrency boom in Nigeria. Many experts have also called on regulators to tighten oversight of digital investment platforms and increase public awareness on financial safety.
The EFCC urges the public to assist with any useful information that could lead to the arrest of the wanted suspects.
If you recognize any of the suspects or have relevant information, contact the EFCC immediately. For more updates on this and related stories, stay tuned to NIGPOST.
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