Alleged $1bn Fraud: Court gives EFCC nod to arrest CBEX staff

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.

Credit: dailypost.ng

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