….Crypto platform under ST Technologies flagged as unlicensed and under investigation
Abiodun JIMOH
The Securities and Exchange Commission (SEC) has reaffirmed that CBEX (Crypto Bridge Exchange), operated by ST Technologies International Ltd—also known as Smart Treasure or Super Technology—remains banned from operating in Nigeria.
In a public notice issued Wednesday, the Commission cautioned investors against engaging in any business with CBEX, warning that the platform is neither registered nor authorised to offer investment-related services in the country.
“The attention of the Commission has been drawn to media reports suggesting that CBEX has resumed operations across Nigeria,” the statement read. “According to these reports, CBEX promoters are demanding $200 from subscribers with balances above $1,000, and $100 from those with less than $1,000 before processing withdrawals.”
The Commission stated categorically that CBEX and its affiliated entities are not licensed to operate in the Nigerian capital market and are in violation of the Investments and Securities Act, 2025.
“Enforcement actions have already been initiated against CBEX and its promoters following earlier illegal investment activities,” SEC stated. “We are working closely with relevant law enforcement agencies to conduct a full investigation and will take appropriate legal steps as required.”
The Commission warned that any Nigerian transacting with CBEX or its promoters does so at personal financial risk, stressing that such individuals risk losing their money.
Investors are urged to verify the registration status of any investment platform through SEC’s official portal: www.sec.gov.ng/cmos. The Commission reiterated its commitment to protecting investors and maintaining the integrity of Nigeria’s capital market.
