The Securities and Exchange Commission (SEC) has issued a strong warning to the public, reaffirming that Crypto Bridge Exchange (CBEX)—also operating under ST Technologies International Ltd., also known as Smart Treasure or Super Technology—remains banned from operating in Nigeria.
In a public notice released on Wednesday, the commission dismissed recent media reports suggesting that CBEX had resumed operations across the country.
The SEC stated categorically that neither CBEX nor its associated entities are registered with the commission or authorised to offer any investment-related services in Nigeria.
“The attention of the Securities and Exchange Commission has been drawn to reports that CBEX is actively demanding payments from users in order to process withdrawals,” the notice stated.
“Promoters are reportedly charging $200 from subscribers with balances above $1,000 and $100 from those with less than $1,000.”
The SEC emphasized that CBEX and its promoters remain under enforcement action due to their history of unauthorised investment operations.
The commission is currently collaborating with law enforcement agencies to investigate the activities of the firm and take appropriate legal steps under the Investments and Securities Act, 2025.
Investors were urged to refrain from engaging or transacting with CBEX or its affiliates, warning that doing so could result in financial losses.
“The Nigerian public is strongly advised to avoid dealing with CBEX or ST Technologies International Ltd. (Smart Treasure/Super Technology),” the statement added. “They are not licensed and pose a significant risk to investors.”
For safe investing, the SEC urged Nigerians to verify the registration status of any investment platform through its official portal at www.sec.gov.ng/cmos.
The commission reiterated its commitment to protecting investors and upholding the integrity of the Nigerian capital market.
