The Economic and Financial Crimes Commission (EFCC) has declared two additional suspects, Folashade Odelana and Bamidele Ayodele Abiodun, wanted in connection with the alleged ₦1 billion cryptocurrency scam involving Crypto Bridge Exchange (CBEX). According to a statement released via the EFCC’s official X account, the suspects were last known to reside at 17 Oremeta Street, Allen Avenue, Ikeja, Lagos. This latest announcement raises the total number of individuals declared wanted in the CBEX case to ten.
The CBEX scandal came to light in April 2025, when users of the platform reported being unable to access or withdraw their investments, prompting widespread public outrage. Many Nigerian investors claimed to have lost substantial sums of money, leading to mounting pressure on authorities to act. Prior to the recent declarations, the EFCC had already named eight suspects, including Adefowora Abiodun Olanipekun and Emmanuel Uko, and secured arrest warrants for six of them.
EFCC Chairman Ola Olukoyede assured the public that significant progress has been made in the investigation. He confirmed that some suspects have been arrested and a “reasonable amount” of stolen funds has been recovered. Despite challenges, including the tracing of CBEX funds to four countries, Olukoyede emphasized the commission’s commitment to holding all involved accountable and maximizing recovery efforts for the victims.
