The Economic and Financial Crimes Commission (EFCC) has declared four individuals wanted in connection with the alleged N1.3 trillion ($847 million) fraud perpetrated by the now-defunct CryptoBank Exchange (CBEX) platform. The anti-graft agency, in collaboration with the International Criminal Police Organisation (Interpol) and other international partners, has launched a comprehensive investigation to apprehend the suspects and recover investors' funds.
CBEX, a digital investment platform, collapsed on April 14, 2025, leading to significant financial losses for numerous Nigerian investors. In the aftermath, aggrieved customers ransacked the CBEX office in Oke Ado, Ibadan, Oyo State, carting away office equipment before security forces intervened.
EFCC spokesperson Dele Oyewale confirmed the agency's proactive measures, stating that the commission had been monitoring CBEX's activities prior to its collapse. He emphasized that the EFCC is diligently working to track the digital trading platform and bring the perpetrators to justice. [1]
The EFCC has identified and declared the following individuals wanted for their alleged involvement in the CBEX fraud:
- Akpodemaye Ikolo
- Donald Olorunkoyede
- Owootomo Tomilola Sunday
- Okuafiaka Bright Onyebuchi
These individuals are being investigated for offenses bordering on fraud, and the EFCC has solicited the public's assistance in locating them. [2]
The EFCC has reiterated its commitment to combating financial crimes and has warned Nigerians to exercise caution when investing in schemes promising unrealistic returns. The commission highlighted that any digital trading activity must be licensed and comply with existing laws, as stipulated in the Investment and Security Act (ISA) 2025. [1]
As the investigation progresses, the EFCC urges anyone with information regarding the whereabouts of the wanted individuals to contact the commission through its official channels.
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