In a bold move to tighten the noose around one of Nigeria’s largest crypto scams, the Economic and Financial Crimes Commission (EFCC) has unmasked four prime suspects linked to the collapse of Crypto Bridge Exchange (CBEX).
Their faces, now plastered across media platforms, mark a new chapter in the hunt for justice after the ₦1.3 trillion scandal that rocked over 600,000 Nigerians.
The wanted individuals — Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede — are alleged to have masterminded an elaborate Ponzi scheme under the front of ST Technologies International Limited. Investors were lured in with the seductive promise of 100% returns in just 30 days, supposedly powered by “cutting-edge” AI crypto trading — a dream that quickly turned into a nightmare.
To lend a false air of legitimacy to their operations, the suspects flaunted certificates from the Corporate Affairs Commission (CAC) and the EFCC’s Special Control Unit Against Money Laundering (SCUML). But the EFCC has made it clear: registration is not an endorsement — and certainly not a license to defraud the public.
Justice Emeka Nwite of the Federal High Court in Abuja had earlier granted the EFCC’s request to issue arrest and remand warrants for six CBEX promoters, citing the need for a thorough probe and decisive action.
In an intensified manhunt, the EFCC is collaborating with INTERPOL to track down both local and international players connected to the syndicate. Meanwhile, the agency has released a warning list of 58 similar operations suspected of running investment scams, urging Nigerians to stay vigilant and verify any investment platforms before parting with their money.
With relentless determination, the EFCC vows to recover stolen funds and bring all culprits to justice — sending a strong message to fraudsters hiding behind the mask of digital innovation.
