CBEX Still Banned! SEC Issues Fresh Warning To Nigerian Investors

The Securities and Exchange Commission (SEC) has reaffirmed that CBEX (Crypto Bridge Exchange)—operating under ST Technologies International Ltd, also known as Smart Treasure or Super Technology—remains prohibited from operating in Nigeria, as it is not registered with the Commission.

In a public notice issued on Wednesday, the SEC cautioned the public against engaging in any investment-related transactions with CBEX.

The notice stated:

“The attention of the Securities and Exchange Commission has been drawn to recent media reports suggesting that CBEX, operating through ST Technologies International Ltd, has resumed operations across Nigeria.

According to these reports, the promoters of CBEX are demanding $200 from subscribers with account balances above $1,000, and $100 from those with less than $1,000, as a condition for processing withdrawals.”

The Commission stressed that CBEX and its affiliated entities are not licensed or authorised to offer investment services in Nigeria.

“Enforcement actions have already commenced against CBEX and its promoters over their previous unauthorised activities,” the statement added. “The Commission is working in collaboration with relevant law enforcement agencies to investigate the operations of CBEX/ST Technologies International Ltd and will take appropriate measures as empowered by the Investments and Securities Act, 2025.”

The SEC urged Nigerians to steer clear of CBEX and its affiliates to avoid financial losses, reiterating that they are operating illegally.

For public safety, the SEC advised investors to always verify the regulatory status of any investment firm or platform via its official portal: www.sec.gov.ng/cmos.

The Commission reiterated its commitment to safeguarding investors and upholding market integrity in Nigeria’s financial system.