EFCC Declares Four Persons Wanted Over Alleged CBEX Crypto Platform Scam
The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted in connection with the alleged fraud perpetrated on the crypto bridge exchange (CBEX) platform.
The suspects, identified as Adefowora, Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede, are being sought by the agency for their alleged roles in promoting the now-collapsed CBEX Ponzi scheme.
The EFCC’s move comes after thousands of Nigerians lost their life savings to the scheme, which promised unrealistic returns and was promoted through various channels, including a government-owned radio station in Osun State.
The Osun State Broadcasting Corporation (OSBC) had actively promoted CBEX, packaging it as a legitimate poverty alleviation initiative and encouraging vulnerable Nigerians to invest.
In a video obtained by SaharaReporters, CBEX officials made exaggerated claims about the platform’s capacity to lift Nigerians out of poverty, while the OSBC presenter fully endorsed the scheme on air. The collapse of CBEX has left many Nigerians devastated, with victims taking to social media to share their heartbreaking stories and losses.
The EFCC’s declaration of the four suspects wanted is a step towards bringing those responsible for the alleged fraud to justice.
