The Economic and Financial Crimes Commission (EFCC) has declared two additional suspects wanted in connection with a massive cryptocurrency fraud linked to the now-defunct trading platform, Crypto Bridge Exchange (CBEX).
In a notice released Wednesday via its official social media channels, the anti-graft agency identified the suspects as 31-year-old Folashade Odelana and 32-year-old Bamidele Ayodele Abiodun. Both are accused of orchestrating fraudulent activities on CBEX, which allegedly resulted in significant financial losses for thousands of investors.
According to the EFCC, the suspects’ last known address is No. 17, Oremeta Street, Allen, Ikeja, Lagos State.
“The public is hereby notified that the persons whose photographs appear below 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 statement read in part.
The agency urged anyone with credible information regarding the whereabouts of the suspects to contact EFCC offices in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Reports can also be made via the commission’s official email at info@efccnigeria.org, through its helplines, or at the nearest police station or security agency.
This brings the total number of individuals declared wanted in connection with the CBEX scandal to 12.
The CBEX collapse in April 2025 triggered widespread panic after users were abruptly locked out of their accounts and prevented from accessing their funds. According to victim estimates, the incident affected more than 600,000 Nigerians, with reported losses exceeding ₦1.3 trillion.
The scale of the alleged fraud has sparked national outrage, with victims demanding swift justice and recovery of funds.
Previously, the EFCC had declared eight other individuals wanted in relation to the same case: Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.
In addition, arrest warrants have been secured for six suspects: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
EFCC Chairman Ola Olukoyede recently assured the public that investigations are progressing and that recovery efforts are underway to ensure that justice is served.
