Court orders EFCC to arrest, detain CBEX staff, details emerge

• The petition of the Economic and Financial Crimes Commission (EFCC) to apprehension and detain six promoters has been granted
• Justice Emeka Nwite of the Federal High Court successful Abuja gave the EFCC the go-ahead to apprehension and detain the CBEX unit members connected Thursday, April 24, 2025
• The EFCC’s lawyer, Fadila Yusuf, had earlier moved an ex parte question to the effect, seeking 2 prayers from the court

Legit.ng journalist, Adekunle Dada has implicit 8 years of acquisition covering metro, authorities policy, and planetary issues

FCT, Abuja - Operatives of the Economic and Financial Crimes Commission (EFCC) person been fixed the go-ahead to apprehension and detain six promoters of the Crypto Bridge Exchange (CBEX) implicit alleged concern fraud to the tune of implicit 1 cardinal dollars.

Justice Emeka Nwite of the Federal High Court successful Abuja connected Thursday gave the bid aft the EFCC’s lawyer, Fadila Yusuf, moved an ex parte question to the effect.

EFCC seeks 2 prayers implicit alleged $1bn fraud by CBEX Photo credit: @officialEFCC
Source: Facebook

As reported by Vanguard, the six suspects see Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim arsenic 1st to 6th defendants, respectively.

The EFCC sought 2 prayers successful the question ex parte dated and filed connected April 23 by its counsel, Yusuf.

The anti-graft bureau sought an bid from the honourable tribunal for the issuance of a warrant of apprehension for the defendants.

The committee besides prayed to the tribunal for “an bid remanding the defendants successful the custody of the complainant/applicant pending the decision of the probe of the alleged offences and imaginable prosecution”.

The lawyer argued that the EFCC has a statutory work to forestall and observe fiscal crimes done investigation.

“The defendants are astatine large, and a warrant of apprehension is required to apprehension the defendants for due probe and prosecution of this case.”

The justice said the detention would beryllium pending the decision of the probe of the alleged offences and imaginable prosecution.

Giving his order, the justice said:

“I person listened to the submission of the learner counsel for the applicant (EFCC).“I person besides gone done the affidavit grounds with exhibits thereto on with the written address.“I americium of the view, and I truthful hold, that the exertion is meritorious.“Consequently, the exertion is granted arsenic prayed.”

CBEX: EFCC, SEC instrumentality enactment against Ponzi schemes

Earlier, Legit.ng reported that EFCC said CBEX investors are going to get their money back.

The Securities and Exchange Commission (SEC) said it volition commence probe arsenic to wherever the operators are and hunt them down.

The 2 national authorities agencies person vowed to hunt down operators of Ponzi schemes crossed the country.

CBEX: 4 Steps to instrumentality if you submitted NIN

Meanwhile, Legit.ng reported that immoderate important issues were raised by radical who invested and lost wealth connected CBEX, a Ponzi strategy disguised arsenic an concern trading level that precocious crashed.

CBEX investors person cried retired that they were asked to upload 2 photos for relationship verification portion trying to retreat their funds.

To upload their NIN gaffe oregon passport details and different photograph of them holding the aforesaid ID card

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Source: Legit.ng