The Economic and Financial Crimes Commission (EFCC) has declared Elie Bitar, a foreign national, wanted in connection with a suspected cryptocurrency fraud tied to the online trading platform, Crypto Bridge Exchange (CBEX).
In a public bulletin released on Wednesday, the EFCC revealed that Bitar, 41, is being sought for his alleged role in a fraudulent investment scheme that targeted unsuspecting Nigerians through CBEX, a platform that promised high-yield crypto returns but soon came under scrutiny for its lack of transparency and regulatory compliance.
“The public is hereby notified that ELIE BITAR, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated on an online trading platform called Crypto Bridge Exchange (CBEX),” the EFCC stated in the notice.
The Commission disclosed that Bitar’s last known address is located at Eng. George Enemoh Crescent in Lekki Phase 1, Lagos State. His image and personal information have been circulated across the Commission’s zonal offices nationwide in a bid to aid his arrest.
Members of the public who have any information regarding his whereabouts are encouraged to reach out to EFCC offices in Lagos, Abuja, Kano, Port Harcourt, Ibadan, Maiduguri, Sokoto, Enugu, Uyo, Makurdi, Ilorin, Benin, Kaduna, or Gombe. Information can also be submitted via the Commission’s official phone line at 08093322644 or through email at [email protected].
CBEX rose to prominence amid Nigeria’s rising enthusiasm for cryptocurrency investment, offering users quick returns and aggressive marketing pitches. However, alarm bells rang when it was discovered that the platform operated without a license from the Securities and Exchange Commission and withheld critical details about its operations.
The EFCC, which has since launched a full-scale investigation into the platform, reportedly uncovered a network of suspicious financial transactions linking Bitar and several others to the fraud. Some individuals associated with CBEX have already been arrested, while others, including Bitar, remain at large.
The notice was signed by Dele Oyewale, Head of Media and Publicity at the EFCC, who reiterated the Commission’s commitment to pursuing individuals exploiting Nigerians through digital fraud and Ponzi-like schemes. The agency also stressed its resolve to recover funds and bring perpetrators to justice as part of its broader crackdown on financial crimes in the country.
