EFCC declares two more suspects wanted over ₦1.3 trillion crypto bridge exchange fraud
The Economic and Financial Crimes Commission (EFCC) has declared two more individuals wanted in connection with the ₦1.3 trillion cryptocurrency fraud involving the collapsed Crypto Bridge Exchange (CBEX), bringing the total number of wanted suspects to 12.
In a public notice issued on Wednesday via its official social media platforms, the anti-graft agency identified the suspects as 31-year-old Folashade Odelana and 32-year-old Bamidele Ayodele Abiodun. Both are accused of orchestrating fraudulent activities on the digital trading platform, which reportedly led to massive financial losses for thousands of investors.
The EFCC stated that the duo’s last known address is No. 17, Oremeta Street, Allen, Ikeja, Lagos. It urged the public to assist in locating the suspects by reporting any useful information to its offices in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Information can also be provided through its official helplines, email (info@efccnigeria.org), or the nearest police station.
The collapse of CBEX in April 2025 left over 600,000 Nigerians unable to access their investments, with estimated losses exceeding ₦1.3 trillion. The scale of the collapse has triggered nationwide outrage and calls for justice.
Earlier, the EFCC had declared eight other individuals wanted in relation to the case, including Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro. Arrest warrants have already been secured for six of the suspects.
EFCC Chairman Ola Olukoyede has assured the public of ongoing investigations and efforts to recover stolen funds.
