The Economic and Financial Crimes Commission (EFCC) has invited Nigerians affected by the suspected fraudulent activities of the cryptocurrency platform, Crypto Bridge Exchange (CBEX), to report to its zonal offices in Ibadan and Lagos.
This came five months after CBEX, which operated without registration or oversight from Nigeria’s Securities and Exchange Commission (SEC), collapsed on April 14, 2025, leaving thousands of investors unable to access their funds.
EFCC on Friday disclosed that it is currently prosecuting three suspects, Adefowoara Abiodun Olanipekun, Otorudo Avwerosuo, and Ehirim Justice Chukwuebuka, for their alleged involvement in the scheme.
The anti-graft agency through a statement issued by its Media and Publicity Head, Dele Oyewale, stated that the suspects are accused of operating CBEX as an online trading platform that lured unsuspecting investors with promises of unrealistic returns, leading to widespread financial losses.
According to the statement, “The Economic and Financial Crimes Commission, EFCC, is currently prosecuting three suspects, ADEFOWOARA ABIODUN OLANIPEKUN, OTORUDO AVWEROSUO AND EHIRIM JUSTICE CHUKWUEBUKA regarding their alleged involvement in the fraudulent online crypto currency trading platform called Crypto Bridge Exchange(CBEX).
“The scheme led to serious financial losses to Nigerians who invested their funds with a promise of unrealistic returns on investment.
“In view of the foregoing and the need to assist the Commission in its ongoing investigation, the EFCC is inviting victims who invested their funds through individuals linked to the CBEX offices in Ibadan and Idimu, Lagos, to report to its Ibadan Zonal Directorate and Lagos Zonal Directorate 2.
Please, find below the contact addresses of the two Directorates: a. 16A, Reverend Oyebode Crescent, Iyaganku, Ibadan, Oyo State. b. 7A, Okotie-Eboh Street, Ikoyi, Lagos.
