By Abiola Olawale
The Securities and Exchange Commission (SEC) has reaffirmed its ban on Crypto Bridge Exchange (CBEX), declaring the platform an illegal and unregistered digital assets exchange operating in Nigeria.
The regulatory body made this known in a public notice issued on Wednesday, warning the public to avoid engaging with CBEX.
In the notice, the SEC emphasized that CBEX, also operating under aliases such as ST Technologies International Ltd. and Smart Treasure/Super Technology, has never been registered to function as a digital assets exchange or solicit investments in Nigeria.
The notice reads in part: “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 Nigeria.
“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.
“Enforcement action has already been initiated against CBEX and its promoters following its 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 New Diplomat reports that this comes after reports emerged that CBEX has attempted to resume operations, demanding additional payments from users despite its collapse in April 2025, which resulted in losses exceeding N1.3 trillion for over 600,000 Nigerian investors.
