The Securities and Exchange Commission (SEC) has stated that Crypto Bridge Exchange (CBEX), which operates under the corporate identity of ST Technologies International Ltd., remains prohibited from operating in Nigeria.
The commission clarified that CBEX, also known as Smart Treasure or Super Technology, is not registered with the SEC and is not authorised to provide investment-related services to the Nigerian public.
In a public notice issued on Wednesday, the SEC addressed recent media reports indicating that CBEX had resumed operations across the country.
According to these reports, the promoters of CBEX are allegedly requesting $200 from users with account balances exceeding $1,000, and $100 from those with lower balances, before processing any withdrawals.
While highlighting the implications surrounding the illegal entity, the commission advised citizens to refrain from investing in CBEX.
According to the statement, “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.”
The commission added that enforcement action had already begun against the company over prior unauthorised 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 added.
The SEC advised the public to verify the registration status of investment platforms through the commission’s dedicated portal, www.sec.gov.ng/cmos, before transacting.
The commission further reiterated its committed to protecting investors and maintaining market integrity.
