Nigeria’s capital-market watchdog has hoisted the red flag once again over Crypto Bridge Exchange—an outfit that trades under ST Technologies International Ltd. and hawks itself through the brand names “Smart Treasure” and “Super Technology.”
In a fresh advisory on Wednesday, the Securities and Exchange Commission stressed that CBEX has never been licensed or recognised by the commission, and therefore remains under a nationwide trading ban. The notice was prompted by press reports hinting that the platform had quietly restarted operations.
“The commission’s attention has been drawn to media claims that Crypto Bridge Exchange has resumed business across Nigeria,” the bulletin stated, before warning prospective investors to steer clear of any dealings with the unregistered firm. In short, the regulator’s position has not changed: engage with CBEX at your own peril.
“According 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.
“Unequivocally, neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the commission or authorised to offer investment-related services to the Nigerian public.”
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It warned that enforcement action had already been initiated against the company for previous unauthorised investment activities.
“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 statement added.
The SEC urged members of the public to exercise caution and conduct due diligence by verifying the registration status of any investment platform through its official portal at www.sec.gov.ng/cmos before making financial commitments.
Reaffirming its mandate, the commission emphasized that it remains steadfast in its mission to safeguard investors and uphold the integrity of Nigeria’s capital markets, even as it confronts the growing threat of unregulated digital investment schemes.