N1bn CBEX fraud: 2 more suspects declared wanted

The Economic and Financial Crimes Commission (EFCC) has declared two suspects wanted in connection with the alleged N1 billion cryptocurrency scam linked to Crypto Bridge Exchange (CBEX).

In a notice shared via its official X account, yesterday, the commission identified the wanted persons as Folashade Odelana and Bamidele Ayodele Abiodun.

According to the notice, the last known address of the suspects is 17, Oremeta Street, Allen Avenue, Ikeja, Lagos

The anti-graft agency urged members of the public with useful information on their whereabouts to contact any of its offices nationwide.

This latest development brings the number of individuals declared wanted in connection with the CBEX fraud to 10.

In April 2025, CBEX users raised alarm after they were unable to access or withdraw their investments.
The incident, which affected many Nigerians, sparked public outrage as several people claimed to have lost significant amounts of money to the failed cryptocurrency platform.

Earlier, the EFCC declared eight individuals wanted in connection with the case. They are Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.

The commission also secured arrest warrants for six of the suspects, namely, Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

Ola Olukoyede, chairman of the EFCC, assured victims of the financial scam that the commission is making progress in the investigation and recovery efforts.

He said “a reasonable amount” of funds has already been recovered and some arrests have been made.
The EFCC chairman said the commission committed to bringing all those involved in the alleged scam to justice and recover as much of the stolen funds as possible.