The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the massive cryptocurrency fraud linked to the now-defunct digital trading platform, Crypto Bridge Exchange (CBEX).
This latest development raises the total number of suspects wanted in the multi-billion naira scam to 12.
In a public notice released Wednesday across the EFCC’s official social media platforms, the anti-corruption agency named Folashade Odelana (31) and Bamidele Ayodele Abiodun (32) as the newest suspects in the widening investigation.
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The EFCC accuses both individuals of playing key roles in orchestrating fraudulent activities that resulted in substantial financial losses for hundreds of thousands of unsuspecting investors.
According to the EFCC, the last known address of the duo 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 agency stated.
The EFCC is urging the public to come forward with any information regarding the whereabouts of the suspects.
Citizens with credible leads are encouraged to contact any of the commission’s zonal offices in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Information can also be submitted via email at [email protected] or reported at the nearest police station or security agency.
The CBEX platform, which promised high returns on cryptocurrency trading, collapsed in April 2025.
Reports indicate that over 600,000 Nigerians were affected, with estimated losses exceeding ₦1.3 trillion, making it one of the most devastating digital asset scams in Nigerian history.
Victims began raising alarm when the platform suddenly became inaccessible, with no option to withdraw funds. This sparked nationwide outrage, prompting calls for justice and regulatory reforms in Nigeria’s cryptocurrency space.
Prior to this announcement, the EFCC had already declared eight individuals wanted in connection with the same case. They include:
- Adefowora Abiodun Olanipekun
- Adefowora Oluwanisola
- Emmanuel Uko
- Seyi Oloyede
- Johnson Okiroh Otieno
- Israel Mbaluka
- Joseph Michiro Kabera
- Serah Michiro
Arrest warrants have been secured for at least six suspects, including Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
EFCC Chairman Ola Olukoyede reaffirmed the commission’s commitment to holding all perpetrators accountable and recovering stolen funds.
“We are making significant progress in our investigations and recovery efforts. Nigerians affected by the CBEX fraud deserve justice,” he said.
