The Securities and Exchange Commission (SEC) has once again warned Nigerians that Crypto Bridge Exchange (CBEX), operating under ST Technologies International Ltd also known as Smart Treasure or Super Technology is prohibited from conducting business within Nigeria.
In a public notice issued on Wednesday, the SEC advised the public to refrain from any investment activities involving CBEX, noting that the platform is not registered to operate in the country.
The SEC cited media reports indicating that CBEX has recently resumed operations across Nigeria.
Additionally, the commission revealed that CBEX promoters are reportedly charging subscribers fees before permitting withdrawals: $200 for accounts holding more than $1,000, and $100 for those with lesser balances.
The SEC emphasized that neither CBEX nor ST Technologies International Ltd has received authorization to offer investment services, labeling their ongoing activities as unlawful.
The Commission confirmed that enforcement actions against CBEX and its promoters are currently in progress, with collaboration from law enforcement agencies to investigate and respond in accordance with the Investments and Securities Act 2025.
Nigerians are strongly advised to avoid dealings with CBEX or any affiliates of ST Technologies International Ltd to safeguard their investments.
Finally, the SEC urged the public to always verify the registration status of any investment platform through its official website prior to making financial commitments, underscoring its commitment to protecting investors and maintaining market integrity.
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