SEC declares CBEX unregistered, illegal
The Securities and Exchange Commission has reiterated that Crypto Bridge Exchange, operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure or Super Technology, remains banned from operating in Nigeria.
In a public notice issued on Wednesday, the commission warned Nigerians to refrain from engaging in any investment-related transactions with CBEX, noting that the platform is not registered to operate in the country.
“The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX has resumed operations across Nigeria,” the statement read.
It continued, “CBEX promoters are demanding $200 from subscribers with account balances above $1,000 and $100 from those with less than $1,000 balances before withdrawals can be processed.”
The SEC said it “unequivocally” states that neither CBEX nor ST Technologies International Ltd is authorised to provide investment services to the Nigerian public, warning that their continued operations are illegal.
The Commission disclosed that enforcement action had already been initiated against CBEX and its promoters following their previous unauthorised activities. It added that it is working in collaboration with relevant law enforcement agencies to thoroughly investigate the platform and take appropriate actions in line with the Investments and Securities Act 2025.
“The Nigerian public is accordingly advised to refrain from patronising or transacting with CBEX or ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds,” SEC warned.
