The Securities and Exchange Commission (SEC) has again warned Nigerians against doing business with CBEX (Crypto Bridge Exchange), stressing that the investment platform remains banned in the country.
In a public notice issued on Wednesday, the Commission stated that CBEX, operating under the name ST Technologies International Ltd—also known as Smart Treasure or Super Technology—is not registered or authorised to carry out investment activities in Nigeria.
The SEC’s warning follows reports that CBEX has resumed operations in several parts of the country. According to those reports, the promoters of CBEX are allegedly demanding \$200 from subscribers with balances above \$1,000 and \$100 from those with lower balances before allowing any withdrawals.
Reacting to the development, the SEC said: “The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX has resumed operations across Nigeria. We state clearly that neither CBEX nor ST Technologies International Ltd is registered with the Commission or authorised to offer investment-related services.”
The regulatory body also revealed that enforcement actions have already begun against CBEX and its promoters due to previous illegal activities. It added that it is working with law enforcement agencies to investigate the company and will take appropriate legal action under the Investments and Securities Act 2025.
The SEC strongly advised Nigerians to avoid transacting with the firm, warning that doing so puts their money at serious risk.
“The Nigerian public is accordingly advised to refrain from patronising or transacting with CBEX or ST Technologies International Ltd, as they risk losing their funds,” the statement read.
The Commission urged investors to always verify the status of any investment company through its official website, [www.sec.gov.ng/cmos](http://www.sec.gov.ng/cmos), before committing funds.
SEC said it remains committed to protecting investors, maintaining transparency, and upholding the integrity of Nigeria’s financial markets.