The Federal High Court in Abuja, on Thursday, gave the
Economic and Financial Crimes Commission, EFCC, the go-ahead to arrest and
detain six promoters of Crypto Bridge Exchange, CBEX, over alleged investment
fraud to the tune of over one billion dollars.
Justice Emeka Nwite, who gave the order after the EFCC’s
lawyer, Fadila Yusuf, moved an ex-parte motion to the effect, said the
detention would be pending the conclusion of investigation of the alleged
offences and possible prosecution.
“I have listened to the submission of the learner counsel
for the applicant, EFCC. I have also gone through the affidavit evidence with
exhibits thereto along with the written address.
“I am of the view and I hold that the application is
meritorious. Consequently, the application is granted as prayed,” the judge
said.
DAILY POST reports that the six suspects include Adefowora
Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede.
Others are Avwerosuo Otorudo and Chukwuebuka Ehirim as 1st
to 6th defendants respectively.
In the motion dated and filed April 23 by Yusuf, the
anti-graft agency sought two prayers, seeking an order of the honourable court
for the issuance of warrant of arrest of the defendants.
It also prayed the court for “an order remanding the
defendants in the custody of the complainant/applicant pending the conclusion
of investigation of the alleged offences and possible prosecution.”
Giving four grounds, the lawyer said the EFCC has a
statutory duty of prevention and detection of financial crimes through
investigation.
She said there was an intel to the office of the
commission’s chairman against the defendant bothering on various criminal
offences.
According to her, the applicant has a constitutional duty to
investigate these crimes and enforce law and order.
Yusuf said that “the defendants are at large and a warrant
of arrest is required to arrest the defendants for proper investigation and
prosecution of this case.”
In the affidavit in support of the motion, the EFCC said
sometime in April, 2025, it received an intel bordering on an alleged
investment scheme fraud against the defendants.
It alleged that the defendants and their company, ST Technologies
International Limited, using another company, Crypto Bridge Exchange, CBEX,
perpetrated the alleged fraud and the case was received and assigned to its
Cybercrimes Section for investigation.
The anti-graft agency said that a warrant of arrest was required
to place the defendants on red watch list so that they could be traced and
arrested to answer to the case against them.
According to the commission, investigation into the
allegation against the defendants revealed a prima facie case of investment
scam.
It said it would be in the interest of justice to grant the
application.
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