The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted in connection with the collapse of Crypto Bridge Exchange (CBEX), a cryptocurrency trading platform that defrauded Nigerian investors of over ₦1.3 trillion.
The suspects, Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede, are accused of involvement in the fraudulent activities that led to the platform’s devastating crash earlier this month.
“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 EFCC said in a notice published across its social media platforms on Friday.
This move follows an Abuja Federal High Court injunction that granted the EFCC permission to arrest and detain six CBEX promoters, pending investigations into their alleged crimes.
Justice Emeka Nwite issued the order after EFCC’s lawyer, Fadila Yusuf, presented an ex parte motion.
The collapse of CBEX on April 21st left many Nigerians reeling, as it wiped out ₦1.3 trillion from investor wallets, reigniting concerns over the country’s vulnerability to fraudulent investment schemes.
The platform’s sudden downfall has sparked fresh debate on the regulatory oversight of digital asset exchanges in Nigeria.
