The Securities and Exchange Commission (SEC) has reiterated that the Crypto Bridge Exchange (CBEX), which operates under the name ST Technologies International Ltd., remains prohibited from conducting business in Nigeria.
In a public statement released on Wednesday, the regulatory body emphasized that CBEX, also referred to as Smart Treasure or Super Technology, has not been granted registration or approval to offer investment services in the country.
The commission urged Nigerians to avoid engaging in any investment-related transactions with the platform.
The SEC stated, “The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria.
“According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000 and $100 from those with less than $1,000 balances before withdrawals can be processed.
“Unequivocally, neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the commission or authorised to offer investment-related services to the Nigerian public.”
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The commission further disclosed that enforcement actions have been initiated against the company for its past unauthorized investment activities.
“The commission is collaborating with relevant Law Enforcement Agencies to properly investigate CBEX/ST Technologies International Ltd. and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.
“The Nigerian public is accordingly advised to REFRAIN from patronising or transacting with CBEX /ST Technologies International Ltd. (Smart Treasure or Super Technology) as they risk losing their funds,” the statement continued.
The SEC also encouraged individuals to confirm the legitimacy of investment platforms by using its official verification portal at www.sec.gov.ng/cmos.
It concluded by reaffirming its commitment to safeguarding investors and ensuring the integrity of Nigeria’s capital market.
