The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the ongoing investigation into a massive cryptocurrency fraud linked to the now-defunct digital trading platform, Crypto Bridge Exchange (CBEX).

 

In an official notice posted on its social media channels on Wednesday, the EFCC identified the suspects as Folashade Odelana, 31, and Bamidele Ayodele Abiodun, 32. The duo is accused of playing a key role in fraudulent activities carried out through the CBEX platform, which allegedly caused significant financial losses to unsuspecting investors.

 

According to the agency, their last known address 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 EFCC urged anyone with credible information regarding the suspects’ whereabouts to report to any of its offices located in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt, or Abuja. Tips can also be submitted via the agency’s official helplines, email (info@efccnigeria.org), or at the nearest police station or security agency.

 

With this latest development, the total number of individuals declared wanted in relation to the CBEX fraud case has risen to 12.

 

The scandal came to light in April 2025, when panic gripped users of CBEX after they suddenly lost access to their accounts and were unable to withdraw funds. Reports suggest that the collapse impacted more than 600,000 Nigerians, with estimated losses exceeding ₦1.3 trillion. The incident sparked widespread outrage and calls for swift accountability.

 

Previously, the EFCC declared eight suspects wanted in the same case. They include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro. Arrest warrants have since been issued for six individuals: Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

 

EFCC Chairman Ola Olukoyede has reassured the public that the commission is making steady progress in its investigation and recovery efforts.