Nigeria, July 7 -- The Federal High Court in Abuja, on Monday ordered the remand of two operators of the cryptocurrency platform, Crypto Bridge Exchange (CBEX), Awerosuo Otorudo and Chukwuebuka Ehirim, over an alleged fraudulent investment scheme.

The judge, Mohammed Umar, remanded Messrs Otorudo and Ehirim at the Kuje Correctional Centre till 18 July scheduled for ruling on their bail application.

Mr Umar issued the remand order after the defendants were arraigned by the Economic and Financial Crimes Commission (EFCC) on three amended counts of unauthorised financial operations and unlicensed investment activities.

Before the defendants entered their pleas, EFCC counsel Fadila Yusuf, requested and obtained the judge's permission to wi...