SEC Raises Alarm! Declares CBEX Operations Unregulated In Nigeria

The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under the name ST Technologies International Ltd., remains banned from conducting business in Nigeria.

In a public notice issued on Wednesday, June 11, the Commission stated that CBEX—also known as Smart Treasure or Super Technology—has not been licensed or registered to offer investment services within the country.

Despite previous enforcement actions, SEC warned the public not to engage in any investment or financial dealings with the entity, highlighting that CBEX continues to operate illegally.

The Commission’s statement reads in part:

“The SEC’s attention has been drawn to reports indicating that CBEX, functioning under ST Technologies International Ltd. (also referred to as Smart Treasure or Super Technology), has resumed operations in Nigeria. According to these reports, CBEX promoters are demanding $200 from account holders with balances exceeding $1,000, and $100 from those with less than $1,000 before processing withdrawals.”

“For clarity, neither CBEX nor ST Technologies International Ltd. is authorised or registered by the Commission to provide investment-related services in Nigeria.”

SEC further revealed that investigations are underway in collaboration with law enforcement agencies, and any violations will be dealt with according to the Investments and Securities Act of 2025.

The public has been strongly advised to avoid any transactions with CBEX or its affiliates, warning of the high risk of financial loss.

To verify the legitimacy of investment platforms, investors are urged to consult the official SEC portal at www.sec.gov.ng/cmos. The Commission emphasized its ongoing commitment to investor protection and market transparency.