Nigeria, April 25 -- The Federal High Court in Abuja has ordered the arrest and remand of six promoters of the recently crashed Ponzi scheme platform, Crypto Bridge Exchange (CBEX), over an alleged $1 billion scam that targeted Nigerian investors.

On Thursday, the judge, Emeka Nwite, granted the order following an ex parte motion filed by the Economic and Financial Crimes Commission (EFCC), which is investigating the platform's collapse and its promoters' role in the suspected fraud.

The suspects named in court include Adefowora Abiodun Olanipekun, Emmanuel Oku, and four others.

The EFCC alleges that the group operated through a front company, ST Technologies International Limited, to promote CBEX and lure Nigerians into investing in c...