Billion-dollar Ponzi Scheme: EFCC takes wanted CBEX promoter into custody
Adefowora Abiodun, one of the promoters of the cryptocurrency trading platform Crypto Bridge Exchange, has been taken into custody by the Economic and Financial Crimes Commission after the accused turned himself in.
Mr Abiodun, on Monday, surrendered to the anti-graft agency following a ruling by Justice Emeka Nwite of the Abuja Division of the Federal High Court, approving EFCC’s request to arrest and detain six CBEX promoters.
This decision is pending the conclusion of the investigation into the alleged offences and potential prosecution of the individuals declared wanted by the EFCC.
Mr Abiodun, alongside five others, Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Avwerosuo Otorudo, and Chukwuebuka Ehirim, were declared wanted by EFCC on Friday over the CBEX Ponzi scheme that swindled thousands of Nigerians out of their money, worth over $1 billion.
Mr Abiodun’s lawyer, Babatunde Busari, stated that the accused submitted himself for investigation to clear his name.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Education
NUC approves 18 programmes for Federal University, Kachia
The university’s vice-chancellor, William Qurix, announced the approval in a statement signed by the university’s registrar, Sanusi Gambo, on Tuesday.
Rights
Jos is not war zone, says NBA
The 2025 NBA-SLP conference was held in Jos from April 24 to April 27.
Lagos
Lagos task force arrests 71 for assault, robbery
“During the raid exercise, a total number of 71 suspects were arrested, and sanity was restored in all the areas,” Mr Wahab stated.
World
22 people killed in restaurant fire
The cause of the blaze, which broke out around midday, has not yet been determined.
Economy
German farms to receive EU aid after foot-and-mouth disease outbreak
The state of Brandenburg estimates the outbreak caused some €8 million ($9.1 million) in damages, with farmers forced to kill numerous animals.
States
Police nab 33 alleged Kano thugs with drugs
The police command in Kano says it arrested 33 alleged thugs between April 23 and 28.
