The Securities and Exchange Commission (SEC) has issued a fresh warning to Nigerians against dealing with CBEX (Crypto Bridge Exchange), declaring the platform and its promoters as operating illegally.
The warning follows reports that CBEX, operating under the name ST Technologies International Ltd (also known as Smart Treasure or Super Technology), has quietly resumed operations across Nigeria despite a previous clampdown by regulators.
According to the SEC, CBEX promoters are now demanding payments of $200 from customers with account balances above $1,000 and $100 from those with less than $1,000 before processing withdrawal requests—raising fresh fears of fraudulent activity.
In a statement posted on its official website, the apex capital market regulator said:
“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.
“The Commission hereby restates unequivocally that neither CBEX nor ST Technologies International Ltd is registered with the Commission or authorised to offer investment-related services to the Nigerian public."
The SEC further disclosed that enforcement actions had already been initiated against CBEX and its promoters for previous violations of the law. It added that it is working in collaboration with law enforcement agencies to investigate the company’s activities and will take necessary legal action in line with the provisions of the Investments and Securities Act 2025.
In strong terms, the Commission urged the public to steer clear of CBEX and its affiliated companies, warning that continued patronage could result in the loss of investors’ funds.
“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 cautioned.
The regulator also encouraged investors to always verify the registration status of any investment platform using its dedicated portal at www.sec.gov.ng/cmos before committing funds.
The SEC reaffirmed its commitment to safeguarding investors and upholding the integrity of Nigeria’s capital market.
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