The family and lawyer of one of the alleged promoters of the CBEX investment scheme, Adefowora Abiodun, have urged the Economic and Financial Crimes Commission to release him unconditionally, stating that he voluntarily surrendered to the EFCC in April, following a ruling by Justice Emeka Nwite of the Federal High Court in Abuja.
A family member, Taiwo Adefowora, in a statement issued on Tuesday, appealed to the commission, arguing that continued detention sends a wrong message to Nigerians who might face similar situations in the future.
Adefowora said, “Keeping him in custody for over a month sends a negative signal to other Nigerians who may be declared wanted by the EFCC in the future. It would discourage individuals with clear cases from voluntarily surrendering themselves to security agencies if they are not accorded mutual respect for doing so.”
The EFCC had earlier sought a court order to arrest and detain six CBEX promoters.
Justice Nwite subsequently approved the EFCC’s request, authorising the arrest and detention of the six individuals, including Abiodun.
Alongside him, others declared wanted were Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim. They are accused of involvement in a fraudulent investment scheme valued at over $1 billion.
The commission’s legal counsel, Fadila Yusuf, provided evidence leading to their public declaration as wanted individuals.
Abiodun, reportedly shocked by the public declaration, contacted his lawyer and voluntarily surrendered to the EFCC.
It was reported on news blogs earlier that Abiodun, accompanied by his legal team, presented himself at the EFCC headquarters in Abuja, expressing willingness to cooperate with the investigation.
His legal counsel, Babatunde Busari, stated that Abiodun’s decision to surrender was to clear his name and address the media narratives surrounding the case.
Despite this, Abiodun’s legal team has expressed concerns over his continued detention, especially as CBEX has reportedly returned investors’ funds and assured that withdrawals would resume by June 25. His detention, now over a month long, has raised questions about EFCC’s approach and allegations of rights abuse.
The legal team is advocating for Abiodun’s release on administrative bail, arguing that his voluntary submission and cooperation negate the need for prolonged detention.
Meanwhile, Adefowora insisted that CBEX is not a Ponzi scheme and that Abiodun’s continued detention is unwarranted.
Reacting to the family’s concerns, EFCC spokesman Dele Oyewole said that the agency obtained a remand order to keep him beyond 48 hours.
According to him, “Anybody that we are holding beyond 48 hours, be assured that we have a lawful remand order from the magistrate court to hold him beyond 48 hours.
“We are a law-abiding commission. Concerning that suspect, we are holding him on the basis of that remand order.”
