Suspected CBEX Promoter Surrenders to EFCC over Alleged $1 Billion Fraud

Adefowora Abiodun Olanipekun, one of the suspected promoters of the Crypto Bridge Exchange (CBEX) investment scheme, has voluntarily surrendered to the Economic and Financial Crimes Commission (EFCC) to assist with investigations.

Olanipekun, declared wanted alongside three others over alleged involvement in a fraudulent scheme valued at over $1 billion, turned himself in at the EFCC headquarters on Monday, accompanied by his lawyers around 4:00 pm. The EFCC had earlier declared Seyi Oloyede, Emmanuel Uko, and Adefowora Oluwanisola wanted in connection with the CBEX fraud.

This development comes as the EFCC’s Kano Zonal Directorate opens investigations into foreign currencies — $86,500, €200, and 305,150 Saudi Riyals — seized by officers of the Nigeria Customs Service at Mallam Aminu Kano International Airport (MAKIA), Kano.

Meanwhile, in a related matter, Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja, yesterday dismissed an application by former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, seeking to reclaim a sprawling Abuja estate containing 753 duplexes and apartments.

Last Thursday, the Federal High Court in Abuja granted the EFCC permission to arrest and detain six suspected CBEX promoters pending the conclusion of investigations. Justice Emeka Nwite, who issued the detention order, said he was satisfied with the evidence provided by EFCC counsel, Fadila Yusuf.

The individuals named in the court order include Olanipekun, Oluwanisola, Uko, Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.