The Securities and Exchange Commission (SEC) has announced that the Crypto Bridge Exchange (CBEX), functioning under the corporate name of ST Technologies International Ltd., continues to be prohibited in Nigeria.
In a public statement released on Wednesday, June 11, the SEC indicated that CBEX, which is also referred to as Smart Treasure/Super Technolog, has not been registered with the commission.
Nonetheless, the commission urged the public to avoid engaging in or conducting any investment-related transactions with CBEX.
It cautioned that enforcement measures have already been taken against the company for prior unauthorised investment operations.
The notice read, “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 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 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.
It added that the SEC remains committed to protecting investors and maintaining market integrity.