The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under the name ST Technologies International Ltd. and also known as Smart Treasure or Super Technology, remains banned in Nigeria. In a public notice, the SEC stated that CBEX is not registered or authorized to offer investment-related services in the country.
Despite reports that CBEX has resumed operations and is demanding additional payments from subscribers before processing withdrawals, the SEC has warned that neither CBEX nor its affiliates are recognized or licensed to operate in Nigeria. The commission highlighted that enforcement action has already been initiated against CBEX and its promoters due to previous unauthorized investment activities.
The SEC is working with law enforcement agencies to investigate the activities of CBEX and has advised Nigerians to refrain from patronizing or transacting with the platform, warning that doing so puts their funds at risk. The commission also urged the public to verify the registration status of any investment platform through its official portal before engaging in transactions.
CBEX gained popularity in Nigeria by promising high returns on investments but failed to honor withdrawal requests and abruptly shut down its offices, leaving many investors stranded. Authorities have classified CBEX as a Ponzi scheme, and investigations are ongoing to hold the promoters accountable under the Investments and Securities Act 2025.
The SEC remains committed to protecting investors and maintaining market integrity, warning Nigerians to avoid platforms offering unrealistic returns or using recruitment-based investment models.
