The Economic and Financial Crimes Commission (EFCC) has called on victims of the Crypto Bridge Exchange (CBEX) cryptocurrency scam to report to its Ibadan and Lagos Zonal Directorates to support an ongoing investigation into the fraudulent platform, which caused significant financial losses.

On August 22, 2025, EFCC’s Head of Media and Publicity, Dele Oyewale, announced that the agency is prosecuting three suspects—Adefowora Olanipekun, Otorudo Avwerosuo, and Ehirim Chukwuebuka—for their alleged roles in the CBEX scam. “The EFCC is currently prosecuting three suspects… over their alleged involvement in the scam,” Oyewale stated in Ibadan.

CBEX allegedly lured Nigerians with promises of high returns on cryptocurrency investments, leading to substantial losses when the platform collapsed in April 2025.

The EFCC is seeking testimonies from victims who invested through CBEX offices in Ibadan and Idimu, Lagos, to strengthen the case. Victims are directed to the Ibadan Zonal Directorate at 16A Reverend Oyebode Crescent, Iyaganku, or Lagos Zonal Directorate 2 at 7A Okotie-Eboh Street, Ikoyi.