The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under the name ST Technologies International Ltd., remains banned from operating in Nigeria.
In a public notice issued on Wednesday, the Commission warned that CBEX—also known as Smart Treasure or Super Technology—is not registered with the SEC and is not authorised to offer any investment-related services 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 notice stated.
According to the Commission, the platform’s promoters are allegedly demanding payments from subscribers before allowing withdrawals—$200 from those with balances above $1,000, and $100 from those below that threshold.
SEC described the scheme as unauthorised and cautioned the public against engaging with it in any form. “Neither CBEX nor ST Technologies International Ltd. is registered with the Commission or authorised to provide investment services to Nigerians,” the statement read.
It further noted that enforcement actions had already been initiated against CBEX and its promoters for previous illegal investment activities. The SEC said it is currently working with relevant law enforcement agencies to investigate the platform’s operations and will take all necessary legal steps in accordance with the Investments and Securities Act, 2025.
The Commission urged Nigerians to remain vigilant and avoid falling victim to unlicensed and potentially fraudulent investment schemes.
