Numerous complaints from Nigerians and significant financial losses, the economic and financial crimes commission (EFCC) has moved to prosecute those behind the Crypto Breach Exchange, CEX scam. On Thursday, the Federal High Court in Abuja granted the EFCC authorization to address and detained six promoters of Civic, the Suspect Adefowora Abiodun Olanipekun, Emmanuel Oku, Sheyi Oyelede and four other individuals are named as defendant in the case number first true 60 respectively. According to the news Agency of Nigeria, the accused individuals are set to have committed investment fraud exceeding $1 billion.
The EFC claims that defendants promised extraordinary high returns with some guarantees reaching up to hundred percent.
Justice Emeka Nwite issued the ruling after the EFCC’s lawyer Fadila Yusuf filed an expert motion in its judgment the court told that the suspect remained in detention pending the completion of the investigation and any potential prosecution related to the alleged crimes. The EFCC application also requested an order to remand the defendant in custody or custodial investigation is concluded and any prosecution is initiated supporting the application Fadila Yusuf presented four key arguments emphasizing the EFCC statutory duty to investigate and prevent financial crimes. While this has generated mixed reactions, you can as well share your thoughts in the comment box session below.
