The Economic and Financial Crimes Commission (EFCC) has declared eight individuals wanted in connection with a suspected fraudulent scheme involving an online trading platform known as Crypto Bridge Exchange (CBEX).
In a public notice released on Friday, the anti-graft agency identified the suspects as Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun. Also declared wanted are their alleged foreign accomplices: Johnson Otieno, Israel Mbaluka, Joseph Kabera, and Serah Michiro.
“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 through an online trading platform called Crypto Bridge Exchange (CBEX),” the EFCC stated.
This development follows a ruling by the Federal High Court in Abuja, which granted the EFCC’s request to arrest and detain individuals linked to the promotion of the CBEX scheme.
Justice Emeka Nwite issued the order after hearing submissions from EFCC counsel Fadila Yusuf. In an ex parte motion filed on April 23, the Commission sought authorization to detain six suspected CBEX promoters pending the conclusion of investigations and potential prosecution.
The individuals named in the motion include Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
According to the EFCC, the suspects allegedly lured investors with promises of exorbitant and unrealistic returns—reportedly as high as 100%.
The scheme began to unravel when users reported being unable to withdraw their funds from the platform, sparking outrage across the country. In recent weeks, frustrated investors—many of whom suffered significant financial losses—stormed CBEX offices in Oyo State and other locations, demanding refunds and answers.
