The Securities and Exchange Commission (SEC) Nigeria has again cautioned the Nigerian public from having any investment transactions with CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, insisting that the company is illegal and therefore not registered for any crptocurrency operations in the country.
In a Public Notice, the commission stated that its latest advice to the investing public was necessitated by recent media reports indicating that the company has resumed operations across Nigeria.
It stated that the news reports showed that CBEX promoters were demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1000 balances before withdrawals can be processed.
The Commission restated unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) was registered with the Commission or authorized to offer investment related services to the Nigerian public.
The SEC further clarified: “As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and 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 public is advised to verify the registration status of Investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting. The Commission remains committed to protecting investors and maintaining market integrity”, it added.
