CBEX scam: EFCC declares 2 Nigerians wanted

The Economic and Financial Crimes Commission (EFCC) has declared two Nigerians Folashade Odelana and Bamidele Ayodele Abiodun wanted in connection with a multi-million-naira cryptocurrency fraud involving the Crypto Bridge Exchange (CBEX).

In a public notice released on Wednesday via its official social media platforms, the anti-graft agency accused the duo of orchestrating elaborate scams that defrauded unsuspecting investors through the CBEX platform.

According to the EFCC, the suspects allegedly masterminded fraudulent investment schemes under the guise of cryptocurrency trading, leading to significant financial losses for many victims across the country.

The Commission urged members of the public with credible information about the whereabouts of the suspects to come forward, assuring that all informants will be granted full confidentiality.

READ ALSO: CBEX fraud: We’ve recovered some money, says EFCC

The anti-corruption agency had in May through its chairman, Mr Ola Olukoyede, announced the recovery of some money from the digital investment platform CBEX in an interview with TVC.

Recall that thousands of Nigerians lost an estimated N1.3trillion in a scheme that promised exagerrated returns on their supposed crypto currency investment.

Speaking during the interview, Olukoyede also revealed that operatives of the EFCC had arrested some suspects in connection with the fraud.

“We have gone far with CBEX. We have been able to recover a reasonable amount of money,” he said.

Acknowledging that the agency experienced difficulties while converting the funds back to dollars in cash, the EFCC boss added, “Even though in the crypto wallet, the same way the money was taken from them. There is no way you will get them in dollars. There is no way you get the dollars in cash without necessarily going through the same process.”

“We have gone far. We have made a reasonable arrest. We are not going to give out much because we don’t want the process to be disrupted. We are still after quite a number of people we have declared wanted,” he said.