EFCC admits error, removes foreign national from CBEX wanted list

The Economic and Financial Crimes Commission (EFCC) has removed Elie Bitar, a foreign national, from the wanted list for crypto bridge exchange (CBEX) fraud.

On April 30, the anti-graft agency declared Bitar wanted over the alleged fraud perpetrated on the CBEX trading platform.

The EFCC published the wanted notice across social media platforms.

In the now-deleted notice, the anti-graft agency mentioned Bitar’s age as 41, while his last known address is at “Eng. George Enemoh Crescent, Lekki Phase 1, Lekki, Lagos State”.

In April, reports emerged that CBEX users could no longer withdraw their funds, after which many Nigerians who had invested in the platform reportedly lost their funds.

The anti-graft agency had previously declared eight Nigerians wanted for the alleged CBEX fraud. The suspects are Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Johnson Okiroh Otieno, Israel Mbaluka, Joseph Michiro Kabera, and Serah Michiro.

Recently, the Foundation for Investigative Journalism (FIJ) published a report stating that the EFCC had erroneously declared Bitar wanted because the name of his company — CBEX Solutions Limited — is similar to the fraudulent scheme.

Bitar co-founded CBEX Solutions Limited, a company focused on conducting retail studies for fast-moving consumer goods (FMCG) companies.

However, in a statement issued on Wednesday, Dele Oyewale, EFCC spokesperson, said Bitar’s name has been removed from the wanted list, citing the availability of new information.

“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 person’s list,” the statement reads.

“The Commission is making good progress in its investigations. Law enforcement agencies across the world are collaborating with it in tracking and arresting all the wanted persons. The EFCC will not relent in bringing every actor involved in the fraudulent dealings to book.”

Oyewale said the anti-graft agency is “gaining important ground” in the search for the eight persons declared wanted over the CBEX fraud.