The Economic and Financial Crimes Commission has removed Elie Bitar, a foreign national, from its wanted list following new developments in the ongoing investigation into the Crypto Bridge Exchange fraud case.

The Commission made this known in a statement released on Wednesday, noting that Bitar, linked to CBEX Solutions Ltd., was no longer considered a person of interest in the case. His removal from the list, according to the EFCC, followed new information that no longer supports his inclusion among the wanted suspects.

Bitar had previously been declared wanted on May 1, 2025, over allegations connected to CBEX, an unregistered cryptocurrency trading platform accused of defrauding Nigerian investors. The EFCC had published the wanted notice across its social media platforms at the time. However, the Commission did not disclose Bitar’s nationality.

Despite Bitar’s removal, the EFCC says it is making significant strides in its ongoing probe into the multi-billion naira cryptocurrency scam. The Commission is currently pursuing eight individuals still wanted in connection with the case. They include Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, Adefowora Abiodun Olanipekun, Johnson Okiroh Ofienolu, Israel Mbalika, Joseph Michiro Kabera, and Serah Michiro.

The EFCC emphasized its commitment to working with international law enforcement agencies to track down the suspects and ensure they are brought to justice.

The CBEX scandal came into the spotlight after the collapse of the cryptocurrency investment scheme allegedly orchestrated through a front company, ST Technologies. The Federal High Court in Abuja had ordered the arrest and remand of six of its promoters over a \$1 billion scam targeting Nigerian investors.

Justice Emeka Nwite granted the order following an ex parte motion by the EFCC against Adefowora Abiodun Olanipekun, Emmanuel Oku, and four others.

EFCC spokesperson Dele Oyewale previously assured the public that the Commission would pursue full recovery of victims’ funds—estimated at over N1.3 trillion—with support from Interpol and other international partners.

The EFCC reiterated on Wednesday that it remains resolute in ensuring that all individuals involved in the fraudulent scheme are held accountable.