EFCC Declares Folashade, Bamidele Wanted Over ₦1.3 Trillion CBEX Crypto Fraud

EFCC has declared Folashade and Bamidele wanted over ₦1.3 Trillion CBEX Crypto Fraud.

 

NewsOnline Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has declared two additional individuals, namely Folashade Odelana and Bamidele Ayodele Abiodun wanted in connection with a massive fraud linked to the collapsed crypto trading platform, Crypto Bridge Exchange (CBEX).

 

In a public notice issued on Wednesday, the anti-graft agency said both suspects played key roles in orchestrating fraudulent activities that led to severe financial losses for unsuspecting investors.

 

 

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“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.

According to the EFCC:

Folashade Odelana, 31, was last known to reside at No. 17, Oremeta Street, Allen, Ikeja, Lagos State.

Bamidele Ayodele Abiodun, 32, shares the same last known address.

 

The Commission appealed to the public to assist with information that may lead to the arrest of the suspects.

 

The notice added: “Members of the public can reach the EFCC through any of its zonal offices in Ibadan, Enugu, Kano, Lagos, Gombe, Port Harcourt or Abuja, or call any of the following hotlines:
09-9044751-3, 08093322644, 08183322644, 07026350721-3, 0706350724-5.
Emails can also be sent to info@efccnigeria.org, or tips can be submitted at the nearest police station.”

 

NewsOnline Nigeria reports that Odelana and Abiodun bring the total number of suspects declared wanted in connection with the CBEX fraud to 14, as investigations continue into what is shaping up to be one of Nigeria’s largest financial scams involving digital assets.

 

Initial findings by investigators reveal that no fewer than 600,000 Nigerians may have invested in the scheme, which allegedly collapsed in April 2025, leaving a trail of losses totalling ₦1.3 trillion.

 

The EFCC has vowed to intensify efforts to track down all individuals involved in the fraud and to recover stolen funds where possible.