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SEC Issues Fresh Public Notice On CBEX Operation In Nigeria.
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Public warned to avoid transactions with CBEX to avoid losing funds.
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SEC collaborating with law enforcement for investigation and enforcement.
The Securities and Exchange Commission (SEC) has reaffirmed that Crypto Bridge Exchange (CBEX), operating under the corporate name ST Technologies International Ltd., remains banned from operating in Nigeria.
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EKO HOT BLOG reports that in a public notice issued on Wednesday, June 11, the commission stated that CBEX—also known as Smart Treasure or Super Technology—is not registered or authorised to carry out any investment-related business in the country.
According to the SEC, despite enforcement actions previously taken against the company for conducting unapproved investment activities, reports indicate that CBEX has resumed operations across the country.
The commission revealed that CBEX promoters have been demanding a $200 fee from subscribers with balances exceeding $1,000, and $100 from those with lower balances, before allowing withdrawals—practices the SEC strongly condemned.
“The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX, operating as ST Technologies International Ltd., has resumed operations across Nigeria,” the statement read.
“Neither CBEX nor ST Technologies International Ltd. (also referred to as Smart Treasure or Super Technology) is registered with the Commission or authorised to provide investment services to the public.”
The SEC stressed that it is collaborating with relevant law enforcement agencies to investigate the company’s activities and would take appropriate legal action under the provisions of the Investments and Securities Act 2025.
It warned Nigerians to avoid doing business with CBEX or its affiliates to prevent financial losses.
“The Nigerian public is advised to refrain from patronising or transacting with CBEX/ST Technologies International Ltd., Smart Treasure or Super Technology, as they risk losing their money,” the commission cautioned.
To avoid falling victim to fraudulent platforms, the SEC urged individuals to verify the regulatory status of any investment company via its portal at www.sec.gov.ng/cmos.
The Commission reiterated its commitment to protecting investors and upholding market integrity across Nigeria’s financial landscape.
