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Adefowora Abiodun, a suspected promoter of the cryptocurrency trading platform Crypto Bridge Exchange, recently declared wanted by the Economic and Financial Crimes Commission, voluntarily surrendered to the agency on Monday.
Justice Emeka Nwite of the Federal High Court in Abuja ruled last Thursday to approve the EFCC’s request to arrest and detain six promoters of CBEX.
The decision is pending the conclusion of investigations into the alleged offences and potential prosecution.
Abiodun, along with five others – Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim – was declared wanted by the EFCC following submissions made by the commission’s counsel, Fadila Yusuf.
After hearing the EFCC’s application, Justice Nwite had ruled, “I have listened to the submission of learned counsel for the applicant (EFCC). I have also reviewed the affidavit evidence and exhibits, along with the written address. I am satisfied that the application is meritorious and hereby grant it as prayed.”
All six promoters were declared wanted by the EFCC for their alleged involvement in a fraudulent investment scheme valued at over $1billion.
Following the declaration, Abiodun, accompanied by his lawyers, turned himself in at the EFCC headquarters, Abuja, around 4pm on Monday.
Abiodun expressed his willingness to cooperate with the EFCC.
The counsel to the suspect, Babatunde Busari, stated that his client decided to submit himself for investigation to clear his name and correct the narrative being widely circulated in the media.
SaharaReporters earlier reported how CBEX crashed, wiping out the life savings of thousands of Nigerians, particularly young people, who believed they were investing in a legitimate platform.
Victims took to social media in a wave of despair, with many sharing heartbreaking videos and posts on TikTok and X (formerly Twitter).
One woman, Pretty Nikky Babe, posted a tearful video: “CBEX don my savings,” capturing the emotional collapse many are experiencing. Another victim, Bola, was seen weeping in front of the company’s looted office in Ibadan, lamenting the loss of her funds.
“Me 200 dollars, but I collected all my friends money, all the money 1,000 dollars,” she cried. “All my life savings, after working in Libya.”
Another victim, Oguonu Nchedo Esther, shared her grief online: “To everyone here…pls don’t cry too much, God will see us through…my kids are just crying as if someone died…all the hopes I gave them are just scattered…we are back to zero…lost $1000…is not the end of life…”
Former presidential aide, Bashir Ahmad had also reacted to the crash, writing: “So, our Securities and Exchange Commission (SEC) warned Nigerians against patronising CBEX after they clarified that they did not register with the Commission, and our people still went ahead and invested their money.”
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