The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the ongoing investigation into the CBEX cryptocurrency fraud, bringing the total number of wanted suspects to 10.
In a notice shared via the commission’s official X (formerly Twitter) account on Wednesday, June 4, 2025, the EFCC identified the newly declared suspects as Folashade Odelana and Bamidele Ayodele Abiodun. Their last known address was listed as 17 Oremeta Street, Allen Avenue, Ikeja, Lagos.
The anti-graft agency called on members of the public who may have useful information regarding the whereabouts of the two individuals to report to any of its offices across the country.
This development follows the public outcry that erupted in April 2025 when users of the CBEX platform raised concerns after being unable to access or withdraw their investments. The sudden collapse of the cryptocurrency investment scheme left numerous Nigerians devastated, with many reporting the loss of substantial amounts of money.
Earlier in the investigation, the EFCC had declared eight other individuals wanted in connection with the same fraud case. These include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.
The commission also revealed that it had secured arrest warrants for six of the suspects: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.
In a public statement, EFCC Chairman Ola Olukoyede assured victims that the commission is making steady progress in both the investigation and efforts to recover funds. He noted that “a reasonable amount” of the defrauded funds has already been recovered, and some arrests have been successfully carried out.
