Alleged N1.3tr CBEX fraud: EFCC declares people wanted, see photos

• The EFCC has declared 2 individuals wanted successful transportation with an online trading platform, crypto span speech (CBEX)
• In a announcement connected its X (formerly Twitter) leafage connected Wednesday, June 4, the committee declared a antheral and a pistillate wanted arsenic it continues its probe into the CBEX case
• The CBEX ponzi scheme, cloaked arsenic a integer trading concern platform, claimed to treble the deposit equilibrium of investors wrong 40 days

Jabi, Abuja - The Economic and Financial Crimes Commission (EFCC) has declared 2 radical wanted implicit the alleged fraud perpetrated connected the crypto span speech (CBEX), a arguable trading platform.

Legit.ng reports that the 2 caller suspects are Folashade Odelana and Bamidele Ayodele Abiodun, a pistillate and antheral idiosyncratic respectively.

The EFCC published the wanted announcement crossed its societal media platforms connected Wednesday, June 4, 2025.

The notice read:

“The nationalist is hereby notified that the persons whose photographs look supra are wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated connected an online trading level called Crypto Bridge Exchange (CBEX)."

Legit.ng reports that this improvement followed the Abuja national precocious tribunal injunction granting the anti-graft bureau support to apprehension and detain immoderate CBEX promoters.

Justice Emeka Nwite, who gave the bid aft the EFCC’s lawyer, Fadila Yusuf, moved an ex parte question to the effect, said the detention would beryllium pending the decision of the probe of the alleged offences and imaginable prosecution.

In April, the integer plus trading level collapsed and subsequently swept implicit N1.3 trillion from investors’ wallets, leaving galore Nigerians devastated.

CBEX, which introduced itself arsenic a institution established successful Singapore successful 2015 and a planetary integer plus trading platform, lured thousands of Nigerians with mendacious promises of guaranteed returns connected investments successful cryptocurrencies and different integer assets.

The clang astatine the clip has sparked renewed statement astir Nigerians’ susceptibility to fraudulent concern schemes.

Angry investors stormed and looted the bureau of Smart Treasure (ST Team), an affiliate of CBEX, successful Ibadan, Oyo state capital.

CBEX: Some funds already recovered

Meanwhile, the EFCC announced a breakthrough successful its probe into the alleged CBEX fraud.

Ola Olukoyede, EFCC Chairman, who disclosed this precocious portion speaking connected a TVC interview, confirmed the betterment of funds and consequent arrests linked to the integer concern platform.

Olukoyede noted that the EFCC had successfully traced and recovered a important magnitude of the stolen funds, adding that the probe has been challenging due to the fact that the alleged fraudsters utilized “non-custodial wallets,” which means determination was nary individuality attached to the accounts, making it harder to hint the criminals.

CBEX: SEC exposes unregistered concern platform

Earlier, Legit.ng reported that the Securities and Exchange Commission (SEC) issued a informing to the Nigerian nationalist regarding the operations of Silverkuun Investment Cooperative Society and Silverkuun Limited.

In a nationalist alert, SEC identified Silverkuun arsenic an illegal operator successful the Nigerian capital market.

The committee said its attraction had been drawn to the activities of the 2 entities, which person been presenting themselves arsenic licensed concern advisers and money managers.

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Source: Legit.ng