Ponzi Alert: CBEX Remains Banned in Nigeria, SEC Reiterates Wa....

The Securities and Exchange Commission (SEC) has restated that CBEX (Crypto Bridge Exchange), operating under the corporate name of ST Technologies International Ltd, also known as Smart Treasure or Super Technology, remains banned from operating in Nigeria due to its lack of registration and authorisation by the Commission.

In a public notice issued on Wednesday, the SEC advised investors and members of the public to avoid engaging in any business or investment-related transactions with CBEX, warning that such dealings expose them to the risk of significant financial losses.

The statement 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 subscribers with balances exceeding $1,000, and $100 from those with balances below $1,000, as a prerequisite before processing any withdrawal requests.”

The Commission firmly declared that neither CBEX nor ST Technologies International Ltd (Smart Treasure/Super Technology) is registered or licensed by the SEC to provide investment-related services to the Nigerian investing public.

The SEC further revealed that enforcement actions had already been initiated against CBEX and its promoters for their unauthorised investment activities. The Commission added that it is currently working in collaboration with relevant law enforcement agencies to thoroughly investigate CBEX/ST Technologies International Ltd and will pursue appropriate sanctions 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 Commission stressed.

The SEC also urged investors to verify the registration status of any investment platform through the Commission’s dedicated portal at www.sec.gov.ng/cmos before engaging in transactions, while restating its commitment to protecting investors and preserving the integrity of Nigeria’s capital market.