Just In: SEC Issues Fresh Statement as CBEX Resumes Operation••• Shares Official Link to Verify Legitimate Investment Platforms
SEC issues fresh warning as CBEX resumes operations in Nigeria two months after crash
SEC Issues Fresh Statement as CBEX Resumes Operations, Shares Official Link to Verify Investment Platforms
Eagles Sight News has gathered that the Securities and Exchange Commission (SEC) has renewed its warning to Nigerians against engaging with Crypto Bridge Exchange (CBEX) and its associated entities operating under ST Technologies International Ltd, also identified as Smart Treasure or Super Technology.
This alert follows fresh reports that CBEX has resumed business activities across Nigeria. Eagles Sight News reported yesterday.The platform is allegedly demanding withdrawal fees from former users—charging $200 from those with balances exceeding $1,000 and $100 from those with lower amounts—before granting access to their funds.
In a public statement issued on Wednesday, the Commission clarified that CBEX is not licensed to operate in the Nigerian capital market, and any investment-related activity it undertakes is in breach of the newly enacted Investments and Securities Act, 2025.
“The Commission hereby restates unequivocally that neither CBEX nor ST Technologies International Ltd (Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment-related services to the Nigerian public,” the statement read.
Enforcement Actions Underway
The SEC also revealed that it has already initiated enforcement proceedings against CBEX and its key promoters due to previous illegal investment schemes.
The Commission is collaborating with law enforcement agencies to investigate thoroughly and take necessary legal actions as mandated by the law.
It strongly advised Nigerians to avoid doing business with CBEX or any firm operating under the names ST Technologies International Ltd, Smart Treasure, or Super Technology.
“Investors risk losing their funds,” the Commission warned, emphasizing the importance of verifying any investment company’s registration status before making financial commitments.
SEC Shares Links to Verify Legitimate Investment
For verification purposes, the SEC urged the public to use its official platform: www.sec.gov.ng/cmos. www.sec.gov.ng/cmos
The Commission reaffirmed its resolve to protect investors, maintain the integrity of the capital market, and take decisive action against unregistered operators exploiting the public.
What You Should Know
CBEX is widely regarded as a Ponzi operation disguised as a legitimate digital investment platform. It went dark in April 2025, wiping out users’ funds from their dashboards without warning.
Reports indicate that over 600,000 Nigerians were affected, losing their investments when the platform collapsed on April 14, 2025.
Prior to its shutdown, the SEC had declared the operation illegal, while the Economic and Financial Crimes Commission (EFCC) confirmed it had launched a probe into the firm’s activities.
CBEX began operations in 2024 after securing registration from the Corporate Affairs Commission on September 25, 2024, and later from the EFCC’s Special Control Unit Against Money Laundering (SCUML) on January 16, 2025.
With the recent enactment of the Investments and Securities Act (ISA 2025) signed by President Bola Tinubu, the SEC now has expanded legal powers to prosecute operators of illegal investment schemes.
According to the Commission’s Director General, Emomotimi Agama, the new law provides tougher consequences:
Ponzi scheme promoters now face up to 10 years imprisonment and a fine of ₦40 million if apprehended and convicted.