The Economic and Financial Crimes Commission (EFCC) has intensified its manhunt for suspects linked to the alleged N1 billion cryptocurrency fraud involving the now-defunct Crypto Bridge Exchange (CBEX), as two more individuals have been declared wanted.
In a notice released via its official X (formerly Twitter) account on Thursday, the EFCC named Folashade Odelana and Bamidele Ayodele Abiodun as new suspects in the widening probe. Their last known address, according to the commission, is 17, Oremeta Street, Allen Avenue, Ikeja, Lagos.
The EFCC has called on the public to provide any information regarding the whereabouts of the suspects by reaching out to its offices across Nigeria.
This latest move brings the total number of suspects declared wanted in the CBEX scandal to ten, marking one of the most significant crypto-related fraud investigations in the country’s recent history.
The controversy began in April 2025 when CBEX users raised alarm over their inability to access or withdraw their investments. The platform, which had gained popularity among Nigerian cryptocurrency traders, suddenly became inaccessible, sparking widespread outrage and claims of financial ruin from affected investors.
Earlier in the investigation, the EFCC had already declared eight other individuals wanted. These include:
Adefowora Abiodun Olanipekun
Adefowora Oluwanisola
Emmanuel Uko
Seyi Oloyede
Johnson Okiroh Otieno
Israel Mbaluka
Joseph Michiro Kabera
Serah Michiro
Additionally, arrest warrants have been secured for six suspects, namely Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
EFCC Chairman Ola Olukoyede has reassured victims that the agency is making tangible progress in its investigation and recovery operations. According to him, “a reasonable amount” of funds has already been retrieved, and arrests are ongoing.
He emphasized the commission’s commitment to bringing all perpetrators to justice and recovering as much of the lost investments as possible.
“As the EFCC works to dismantle the network behind this elaborate fraud, Hobnob News will continue to monitor and report updates to keep the public informed.”
