The Economic and Financial Crimes Commission (EFCC) has declared eight individuals wanted over their alleged involvement in a massive multi-million naira fraud linked to the collapse of the Crypto Bridge Exchange (CBEX), a digital trading platform that left thousands of Nigerians in financial ruin.
Those named in the wanted list include Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, Serag Michiro, and Seyi Oloyede. According to the EFCC, the suspects are believed to be the masterminds behind fraudulent operations that led to the loss of over ₦1.3 trillion from unsuspecting investors.
The agency made this declaration public on Friday through its official social media handles, urging anyone with useful information about the whereabouts of the suspects to report to the nearest EFCC office.
“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 notice read.
The Crypto Bridge Exchange platform, which once promised fast profits and seamless trading of digital assets, came crashing down in April 2024. The sudden collapse wiped out billions from investors’ wallets, triggering outrage and nationwide calls for justice.
Many Nigerians, especially young tech-savvy investors, were drawn to CBEX by aggressive marketing and promises of high returns. But the crash exposed the dark side of the largely unregulated crypto space, prompting the EFCC to intensify its clampdown on digital financial crimes.
The agency reiterated its commitment to protecting Nigerians from cyber fraud, especially as digital asset adoption grows.
As investigations continue, victims of the CBEX debacle are still counting their losses, while pressure mounts on authorities to ensure the suspects are brought to justice.