Court gives EFCC go-ahead to arrest, detain CBEX promoters

Justice Emeka Nwite of the Federal High Court, 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 $1 billion.

The judge gave the order after the EFCC’s lawyer, Fadila Yusuf, moved an ex-parte motion for the arrest of the CBEX promoters.

He said: “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 so hold that the application is meritorious.

“Consequently, the application is granted as prayed.”

The six suspects are – Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede.

READ ALSO: CBN rolls out undercover audits to sanitize BDCs, FX market after CBEX scandal rocks Nigerians

Others are Avwerosuo Otorudo and Chukwuebuka Ehirim.

In the motion ex-parte filed on Thursday by Yusuf, the commission sought two prayers.

It sought an order for the issuance of a warrant of arrest for the defendants.

The EFCC also prayed the court for an order remanding the defendants in custody pending the conclusion of the investigation of the alleged offences and possible prosecution.

In her presentation, the lawyer said the EFCC has a statutory duty of prevention and detection of financial crimes through investigation.

She said there was intelligence in the office of the EFCC chairman against the defendant for various criminal offences.

She argued that the commission has a constitutional duty to investigate the crimes and enforce law and order.

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