The Economic and Financial Crimes Commission (EFCC) has intensified its search for eight individuals declared wanted in connection with the alleged multi-billion naira fraud perpetrated through the online trading platform, Crypto Bridge Exchange (CBEX).
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In a statement released by its Media and Publicity Department on May 14, 2025, the anti-graft agency confirmed that it is making significant progress in tracking and apprehending suspects implicated in the CBEX scheme, with the cooperation of international law enforcement agencies.
The individuals still on the EFCC’s wanted list include Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera, and Serah Michiro.
However, the Commission has announced that Elie Bitar, a foreign national and principal officer of CBEX Solutions Ltd., who was previously declared wanted, has been removed from the list. According to the EFCC, “new information that does not support his inclusion in the wanted persons list” led to his removal.
This development marks a notable update to the EFCC’s earlier bulletin in which Bitar was accused of playing a central role in the alleged crypto fraud scheme that defrauded numerous Nigerian investors.
In the initial notice, the EFCC had disclosed that Bitar, 41, was allegedly involved in a fraudulent operation via CBEX that promised investors high returns from cryptocurrency trading. His last known address was identified as Eng. George Enemoh Crescent, Lekki Phase 1, Lagos.
At the time, the Commission called on members of the public to report any useful information about Bitar’s whereabouts, with contact details for its zonal offices and national helpline widely circulated.
Now, with Bitar no longer on the wanted list, the EFCC reaffirmed its commitment to due diligence, fairness, and accuracy in its investigative process.
“The Commission is making good progress in its investigations. Law enforcement agencies across the world are collaborating with it in tracking and arresting all the wanted persons. The EFCC will not relent in bringing every actor involved in the fraudulent dealings to book,” the statement added.
CBEX, which emerged during Nigeria’s cryptocurrency boom, attracted hundreds of investors with promises of fast and high returns but soon drew scrutiny for regulatory breaches and lack of transparency.
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