The Economic and Financial Crimes Commission (EFCC) has removed Elie Bitar, a foreign national, from its wanted list after previously connecting him and others with fraud allegations linked to Crypto Bridge Exchange (CBEX), an unregistered cryptocurrency trading platform.
The removal of Bitar was disclosed in a statement on Wednesday.
Nairametrics previously reported on May 1, 2025, that the EFCC declared Elie Bitar, a foreign national, wanted in connection with fraud allegations linked to CBEX.
The anti-graft agency announced the development while earlier publishing a wanted notice of him across its social media platforms.
However, the EFCC did not specifically reveal the country of Bitar.
Update on CBEX Investigation
- In a statement on Wednesday, the EFCC revealed that Ellie Bitar of CBEX Solutions Ltd., who was earlier declared wanted, has since been removed from the list owing to new information that does not support his inclusion in the wanted persons’ list.
- Nairametrics checks on the EFCC website showed that Bitar’s wanted list profile has been deleted from the Commission’s website.
- The Commission maintained that as part of its ongoing investigations of the alleged monumental fraud involving many actors in the infamous Crypto Bridge Exchange, CBEX, fraud, the EFCC is gaining important ground in its search for eight wanted persons implicated in the fraud.
- The eight wanted persons are: Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera and Serah Michiro.
- The Commission added that it is making good progress in its investigations while law enforcement agencies across the world are collaborating with it in tracking and arresting all the wanted persons.
- The EFCC added that it will not relent in bringing every actor involved in the fraudulent dealings to book.
Backstory
- The Federal High Court in Abuja had ordered the arrest and remand of six promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX,” over an alleged $1 billion scam targeting Nigerian victims.
- Justice Emeka Nwite granted the order following an ex parte motion filed by the Economic and Financial Crimes Commission (EFCC) against Adefowora Abiodun Olanipekun, Emmanuel Oku, and four other defendants.
- The Commission alleged that the defendants used a company called ST Technologies to promote CBEX, luring Nigerians to invest.
- Nairametrics previously reported that EFCC spokesman Dele Oyewale had pledged to recover Nigerians’ lost investments in the alleged N1.3 trillion CryptoBank Exchange scam, promising action in collaboration with Interpol and other international agencies.
