The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the massive cryptocurrency fraud tied to the now-defunct digital trading platform, Crypto Bridge Exchange (CBEX).
In a statement released on Wednesday via its official social media channels, the EFCC identified the suspects as Folashade Odelana (31) and Bamidele Ayodele Abiodun (32). The agency alleges that the duo played key roles in orchestrating fraudulent activities on the CBEX platform, which led to massive financial losses for unsuspecting investors.
Their last known address, according to the EFCC, 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 statement read.
The anti-graft agency is calling on anyone with credible information about the whereabouts of the suspects to reach out to any of its offices in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Reports can also be made via info@efccnigeria.org, EFCC helplines, or by contacting the nearest police station or security agency.
This latest development raises the number of individuals declared wanted in the CBEX case to 12.
The scandal erupted in April 2025, when users of CBEX were suddenly unable to access or withdraw their funds. The platform’s abrupt collapse reportedly affected over 600,000 Nigerian investors, with estimated losses exceeding ₦1.3 trillion.
Outrage swept across the country, with many victims demanding urgent action and restitution. The scale of the fraud has been described as one of the largest digital investment collapses in Nigerian history.
Previously declared suspects include:
Adefowora Abiodun Olanipekun
Adefowora Oluwanisola
Emmanuel Uko
Seyi Oloyede
Johnson Okiroh Otieno
Israel Mbaluka
Joseph Michiro Kabera
Serah Michiro
Arrest warrants have already been secured for six of the suspects: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
EFCC Chairman, Ola Olukoyede, reaffirmed the commission’s commitment to delivering justice and recovering stolen funds, noting that investigations are actively progressing.