Two alleged operators of a failed cryptocurrency scheme, Crypto Bridge Exchange (CBEX), have been released on bail by a Nigerian court amid ongoing investigations into a suspected multi-million dollar investment scam. Justice Mohammed Umar of the Federal High Court in Abuja granted Avwerosuo Otorudo and Chukwuebuka Ehirim bail on Wednesday, each in the amount of…
A fresh bid by Jesam Michael, the CEO of cryptocurrency trading company Afriq Arbitrage System (AAS) Limited, to secure bail was challenged on Monday by Nigeria’s Economic and Financial Crimes Commission (EFCC). Representing the EFCC at the Federal High Court in Abuja, counsel Geraldine Ofulue labelled the application as repetitive and argued that the earlier…
Two individuals accused of orchestrating a billion-dollar investment scam through a cryptocurrency platform have been formally charged by Nigeria’s anti-graft agency. The Economic and Financial Crimes Commission (EFCC) filed a three-count criminal charge at the Federal High Court in Abuja against Avwerosuo Otorudo and Chukwuebuka Ehirim, alleged promoters of Crypto Bridge Exchange (CBEX), a platform…
