The EFCC has declared two more suspects wanted in connection with the ₦1 billion Crypto Bridge Exchange (CBEX) fraud, raising the total to ten.
The agency urges public assistance, assuring ongoing arrests, investigations, and fund recovery efforts to bring justice to victims of the collapsed CBEX cryptocurrency platform.
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The Economic and Financial Crimes Commission (EFCC) has expanded its list of wanted individuals connected to the alleged ₦1 billion cryptocurrency fraud involving the Crypto Bridge Exchange (CBEX). The commission has now declared two additional suspects, Folashade Odelana and Bamidele Ayodele Abiodun, wanted in connection with the case.
According to an announcement shared on the EFCC’s official X (formerly Twitter) handle, the last known address of the suspects is located at 17 Oremeta Street, Allen Avenue, Ikeja, Lagos. The anti-graft agency has appealed to members of the public to come forward with any information regarding their whereabouts. The EFCC also stated that such information can be reported to any of its offices across Nigeria.
With the latest development, the number of suspects publicly declared wanted in relation to the CBEX case has now risen to ten. The controversy surrounding CBEX began to unfold in April 2025 when a wave of complaints emerged from users who were suddenly unable to access or withdraw their investments from the cryptocurrency platform. The unexpected shutdown of the exchange triggered outrage nationwide, as numerous investors reported substantial financial losses.
Prior to this latest announcement, the EFCC had named eight individuals as wanted suspects in the same case. These include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro. In addition to declaring these individuals wanted, the commission also secured arrest warrants for six of them: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
EFCC Chairman Ola Olukoyede has assured the public that the commission is actively pursuing the case and has already made significant progress in its investigation. He confirmed that a portion of the lost funds has been recovered and that several arrests have been carried out as part of ongoing efforts.
Olukoyede reaffirmed the EFCC’s commitment to bringing all individuals involved in the scam to justice. He emphasized that the commission remains focused on recovering more of the stolen funds and ensuring that affected victims receive some form of restitution.
As the investigation continues, the EFCC urges citizens to remain vigilant and report any suspicious activity or useful leads that could assist in tracking down the remaining suspects linked to the CBEX scandal.
