The Economic and Financial Crimes Commission (EFCC) has removed a foreign national, Mr. Elie Bitar, from its list of wanted persons linked to the alleged cryptocurrency fraud involving the Crypto Bridge Exchange (CBEX) platform.
The anti-graft agency made the announcement on Wednesday following a review of its earlier position, which had included Bitar’s name among suspects declared wanted on April 30, 2025. In a statement released by the Commission’s spokesperson, Dele Oyewale, the EFCC explained that updated findings showed Bitar had no connection to the fraudulent activities carried out through the CBEX platform.
According to the EFCC, Elie Bitar is a co-founder of CBEX Solutions Ltd., a separate and legitimate business entity that operated in Nigeria’s consumer research space until its closure in 2020. The Commission clarified that CBEX Solutions Ltd. had no affiliation with the CBEX cryptocurrency platform under investigation for defrauding investors.
“Further investigation has established that the individual in question had no involvement with the cryptocurrency operations of CBEX and does not warrant inclusion in our wanted list. His name has, therefore, been formally removed,” the statement read.
The Commission’s reversal comes in the wake of widespread public concern and media scrutiny over the apparent misidentification of Bitar. Civil rights advocates had called for greater diligence in the EFCC’s approach to public declarations of wanted persons, especially in high-profile cybercrime cases.
Meanwhile, the EFCC said its probe into the CBEX fraud remains ongoing, with eight individuals still on the run. The wanted persons include Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera, and Serah Michiro.
The Commission reiterated its commitment to ensuring that all individuals found culpable in the CBEX fraud scheme are brought to justice. It added that efforts are being intensified in collaboration with international law enforcement agencies to track down the remaining suspects.
The CBEX case is one of several cryptocurrency-related fraud investigations currently being handled by the EFCC, as it continues to tackle the growing trend of online financial crimes across Nigeria.
