Ponzi: CBEX remains banned in Nigeria, SEC warns investors

 The Securities and Exchange Commission (SEC) has insisted that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, remains banned in Nigeria as it has not been registered by the Commission.


The SEC, in a public notice issued on Wednesday, advised the public to refrain from patronising or transacting any investment-related business with CBEX.

The notice 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 NigeriaAccording 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.”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.


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