Adefowora Abiodun, one of the alleged promoters of the embattled cryptocurrency trading platform Crypto Bridge Exchange (CBEX), has voluntarily surrendered to the Economic and Financial Crimes Commission (EFCC) following his recent declaration as wanted by the agency.
Abiodun turned himself in at the EFCC headquarters in Abuja around 4 p.m. on Monday, accompanied by his legal counsel. His surrender follows a ruling by Justice Emeka Nwite of the Federal High Court, Abuja, which last Thursday granted the EFCC’s request to arrest and detain six individuals linked to the platform pending the conclusion of investigations.
The six suspects declared wanted are:
Adefowora Abiodun
Adefowora Oluwanisola
Emmanuel Uko
Seyi Oloyede
Avwerosuo Otorudo
Chukwuebuka Ehirim
They are accused of running a fraudulent investment scheme through CBEX, reportedly defrauding unsuspecting investors of over $1 billion.
Justice Nwite ruled in favour of the EFCC after reviewing the affidavit evidence and submissions by the agency’s counsel, Fadila Yusuf, noting that the application had merit and should be granted as prayed.
Abiodun’s lawyer, Babatunde Busari, said his client voluntarily submitted to the EFCC to clear his name and correct widespread media narratives surrounding the controversy.
CBEX allegedly collapsed earlier this year, wiping out the life savings of thousands of Nigerians, especially young people, who had invested in the platform believing it to be legitimate. The crash sparked widespread outrage and despair, with victims taking to social media to share harrowing testimonies.
Former presidential aide, Bashir Ahmad, reacted to the crisis by highlighting that the Securities and Exchange Commission (SEC) had previously warned Nigerians not to patronise CBEX, stating the platform was not registered with the commission.
