The Federal High Court in Abuja has issued a warrant for the arrest and remand of six individuals allegedly behind the fraudulent cryptocurrency scheme known as Crypto Bridge Exchange (CBEX), which is said to have swindled Nigerians out of over $1 billion.
Justice Emeka Nwite granted the order on Thursday after reviewing an ex parte motion brought forward by the Economic and Financial Crimes Commission (EFCC). The motion targets Adefowora Abiodun Olanipekun, Emmanuel Oku, and four others linked to the collapsed investment scheme.
According to the EFCC, the suspects operated through a front company, ST Technologies International Limited, to promote CBEX and lure victims with promises of unrealistic returns—up to 100% profit on crypto investments.
