SEC Cautions Public Against CBEX /ST Technologies International Ltd, Citing Risks
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has again advised the Nigerian public to avoid patronizing or transacting with CBEX / ST Technologies International Ltd (also known as Smart Treasure or Super Technology), warning that those who engage with them risk losing their funds.
In a statement released on Wednesday, the SEC stated its awareness of 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 these reports, CBEX promoters are demanding $200 from subscribers with balances above $1,000, and $100 from those with less than $1,000 balances, before any withdrawals can be processed.
The Commission plainly stated that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment-related services to the Nigerian public.
The SEC also noted that enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities.
The Commission is collaborating with relevant Law Enforcement Agencies to thoroughly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.
The public is advised to verify the registration status of investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before engaging in any transactions. The Commission remains committed to protecting investors and maintaining market integrity, the statement concluded.
