. Harold David Charles, Abiodun and Oluwanisola Adefowora, Seyi Oloyede, Emmanuel Uko named in investigation report
Unconfirmed media reports yesterday revealed identities of investors behind CryptoBridge Exchange (CBEX), the notorious investment scheme that allegedly defrauded unsuspecting Nigerians of over N1.3 trillion.
Following the crash and public outcry, the Economic and Financial Crimes Commission (EFCC) announced a full-scale investigation in collaboration with Independent Corrupt Practices Commission, ICPC and Interpol. The Securities and Exchange Commission (SEC) also weighed in, confirming that CBEX was never licensed to operate within Nigeria’s capital market.
The scheme, a ponzi fast track to sudden wealth, lured investors with promises of massive returns—despite offering no genuine investment plan, and by early April crashed, leaving a yet unknown number of Nigerians in shock and despair.
The first signs of trouble emerged when investors could no longer access their CBEX dashboards. While initial reactions ranged from confusion to denial, reality soon set in—the the money was gone.
According to a report by the Foundation for Investigative Journalism (FIJ), sighted by this newspaper, CBEX is linked to ST Investment Co., Ltd., a shadowy company founded by Harold David Charles, a 55-year-old British national. Marketed as a “wealth management expert,” Charles launched CBEX in Nigeria in January 2023 through a well-coordinated media blitz. FIJ reported that ST Investment Co., Ltd. was not officially registered, though an affiliate company—ST Technologies International—was registered with Nigeria’s Corporate Affairs Commission (CAC) and had obtained an anti-money laundering certificate.
Further investigations unearthed a trail of similarly named entities like Smart Treasure and Super Technology, all using the “S.T.” acronym and allegedly linked to the now-defunct scheme.
The investigation also identified a number of Nigerian promoters of CBEX, including Adefowora Abiodun and Oluwanisola Adefowora—believed to be either siblings or a couple—alongside Seyi Oloyede and Emmanuel Uko. These individuals allegedly played various roles in publicizing and legitimizing the scheme among local investors.
Despite mounting evidence, the identified promoters have remained silent, refusing to answer questions about their involvement or the whereabouts of the missing funds.
As authorities dig deeper into the scam, thousands of affected investors continue to seek justice and restitution, while regulatory bodies ramp up efforts to clamp down on unlicensed investment platforms exploiting Nigeria’s financial system.