In a significant escalation of the investigation into the Crypto Bridge Exchange (CBEX) fraud, the Economic and Financial Crimes Commission (EFCC) announced on Wednesday that two more individuals, Folashade Odelana and Bamidele Ayodele Abiodun, have been declared wanted for their alleged roles in the scam. The pair are accused of orchestrating fraudulent activities that caused severe financial damage to a large number of unsuspecting investors.
The EFCC’s announcement, circulated on its official social media platforms, follows earlier declarations naming ten other suspects involved in the same fraudulent scheme. The commission is now actively seeking the public’s assistance in locating these individuals.
According to the EFCC notice: “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). FOLASHADE ODELANA. Odelana is 31 years old and her last known address is at No. 17, Oremeta Street, Allen, Ikeja, Lagos State. BAMIDELE AYODELE ABIODUN. Abiodun is 32 years old. His last known address is at No.17, Oremeta Street, Allen, Ikeja, Lagos State.”
The EFCC has provided multiple contact points, including offices across major Nigerian cities and several phone numbers, urging anyone with relevant information to come forward.
The CBEX platform’s collapse in April 2025 led to reported losses of N1.3 trillion, affecting over 600,000 Nigerians who had invested in the digital trading scheme. The EFCC continues to pursue all leads in this high-profile case.