The Securities and Exchange Commission (SEC) has issued a fresh warning to the Nigerian public, stating that the Crypto Bridge Exchange (CBEX), operating under the corporate name ST Technologies International Ltd.—also known as Smart Treasure or Super Technology—remains banned and unauthorized to offer investment services in the country.
In a public notice released on Wednesday, the commission alerted investors to reports that CBEX had resumed operations across Nigeria, demanding additional fees from users before processing fund withdrawals. Specifically, the platform is allegedly asking for $200 from subscribers with balances exceeding $1,000, and $100 from those with lower balances.
“The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX… has resumed operations across Nigeria,” the notice stated. “Unequivocally, neither CBEX nor ST Technologies International Ltd… is registered with the commission or authorised to offer investment-related services to the Nigerian public.”
The SEC stressed that enforcement actions had already been initiated against CBEX and its promoters for previous unauthorized investment activities. The commission further revealed that it is working with law enforcement agencies to investigate the company and ensure appropriate legal action is taken under the Investments and Securities Act, 2025.
Investors are strongly advised not to patronize or engage in any business dealings with CBEX or its affiliated entities, as doing so puts their funds at significant risk.
To ensure safe investments, the SEC encouraged the public to verify the registration status of any capital market operator or investment platform through its official portal: www.sec.gov.ng/cmos.
The commission reaffirmed its commitment to protecting investors and upholding the integrity of Nigeria’s financial markets.
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