“Report Your Losses” — EFCC Invites Nigerians Defrauded By CBEX To Ibadan, Lagos Offices - Thepodiummedia

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Post published:August 23, 2025
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The Economic and Financial Crimes Commission (EFCC) has invited Nigerians who fell victim to the alleged fraudulent cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), to report to its zonal offices in Ibadan and Lagos.

The anti-graft agency disclosed on Friday that it is currently prosecuting three suspects, Adefowoara Abiodun Olanipekun, Otorudo Avwerosuo, and Ehirim Justice Chukwuebuka, for their alleged involvement in the scheme.

According to the EFCC, the suspects are accused of operating CBEX as an online trading platform that lured unsuspecting investors with promises of unrealistic returns, leading to widespread financial losses.

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“In view of the ongoing investigation, the Commission invites victims who invested their funds through individuals linked to CBEX’s offices in Ibadan and Idimu, Lagos, to report to its Ibadan Zonal Directorate and Lagos Zonal Directorate 2,” the EFCC stated.

The Commission listed the contact addresses as:

Ibadan Zonal Directorate: 16A, Reverend Oyebode Crescent, Iyaganku, Ibadan, Oyo State.

Lagos Zonal Directorate 2: 7A, Okotie-Eboh Street, Ikoyi, Lagos.

The EFCC assured that the testimonies of victims would aid its ongoing prosecution and recovery efforts.

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Morak Babajide-Alabi is a graduate of Mass Communication with a Master of Arts Degree in Journalism from Napier University, Edinburgh, United Kingdom. He is an experienced Social Media practitioner with a strong passion for connecting with customers of brands.

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Ademola AKINBOLA is an author, publisher, trainer, digital marketing strategist, and a brand development specialist with nearly three decades of experience in the areas of branding, communication, corporate reputation management, business development, organizational change management, and digital marketing.

He is the Founder and Head Steward at BrandStewards Limited, a brand and reputation management consultancy. He is also the Publisher of The Podium International Magazine, Ile-Oluji Times, and Who’s Who in Ile-Oluji.

He had a successful media practice at The Guardian, Punch and This Day.

He started his brand management career at Owena Bank as Media Relations Manager before joining Prudent Bank (now Polaris Bank) as the pioneer Head of Corporate Affairs.

The British Council appointed him as Head of Communication and Marketing to co-ordinate branding and reputation management activities at its Lagos, Abuja, Kano and Port Harcourt offices.

In 2007, he was recruited as the Head of Corporate Planning and Strategy for the Nigerian Aviation Handling company. He led on the branding, strategic planning and stakeholder management support function.

His job was later expanded and redesigned as Head of Corporate Communication and Business Development with the mandate to continue to execute the Board’s vision in the areas of Corporate Planning and Strategy, Branding and New Businesses.

In 2010, he voluntarily resigned from nacho aviance to focus on managing BrandStewards, a reputation and brand management firm he established in 2003. BrandStewards has successfully executed branding, re-branding and marketing communication projects for clients in the private and public sectors.

Ademola obtained a M.Sc. Degree in Digital Marketing & Web Analytics from Dublin Institute of Technology in 2016, and the Master of Communication Arts degree of the University of Ibadan in 1997. He had previously obtained a Higher National Diploma (with Upper Credit) in Mass Communication from Ogun State Polytechnic, Abeokuta.

He has published several articles and authored five management books.

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