The Economic and Financial Crimes Commission (EFCC) has declared Folashade Odelana and Bamidele Ayodele Abiodun wanted over their alleged roles in a staggering ₦1 billion cryptocurrency scam linked to the now-defunct Crypto Bridge Exchange (CBEX).
In a notice issued on Wednesday, the anti-graft agency revealed the suspects’ last known address as No. 17 Oremeta Street, Allen Avenue, Ikeja, Lagos, and urged the public to provide any useful information about their whereabouts at any EFCC office nationwide.
With this announcement, the number of wanted individuals in connection to the CBEX collapse has risen to 10, as Nigerian investors continue to count their losses. In April 2025, panic erupted when CBEX users were suddenly locked out of their accounts, unable to withdraw funds, sparking nationwide outrage and allegations of fraud.
The EFCC had earlier declared eight others wanted, including Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede. Arrest warrants were also secured for six of them as part of an ongoing crackdown on the suspected syndicate.
EFCC Chairman Ola Olukoyede assured the public that investigations were advancing, with some suspects already in custody and “a reasonable amount” of stolen funds recovered. He reaffirmed the commission’s resolve to bring all perpetrators to justice and recover as much of the looted cryptocurrency as possible.
