Nigeria’s Securities and Exchange Commission issued a public notice on CBEX (Crypto Bridge Exchange), which also operates under the corporate identity of ST Technologies International Ltd and Smart Treasure/Super Technology, clarifying that it has not been registered to operate as a Digital Assets Exchange, solicit investments from the public, or perform any function within the Nigerian capital market. Preliminary investigations found that CBEX promoted itself in a way that created a false perception of legitimacy and enticed investors with implausibly high guaranteed returns within a short timeframe. The Commission also reported that CBEX failed to honour withdrawal requests from subscribers and abruptly closed its physical offices amid mounting complaints. Citing Section 196 of the Investments and Securities Act 2025, the Commission stated it will collaborate with relevant law enforcement agencies to take enforcement action against CBEX, its affiliates and promoters, and urged the public to refrain from dealing with entities offering unrealistic returns or recruitment-based investment models. It also directed prospective investors to verify platform registration status via its portal before transacting.
Nigeria Securities & Exchange Commission 2025-04-17
Nigeria Securities and Exchange Commission says CBEX is unregistered and will pursue enforcement action with law enforcement agencies
Nigeria’s Securities and Exchange Commission took action against CBEX (Crypto Bridge Exchange) for operating unregistered as a Digital Assets Exchange and misleading investors with false legitimacy and high returns. CBEX failed to honour withdrawal requests and closed its offices amid complaints. The Commission will work with law enforcement to address these violations and advised the public to verify registration status before investing.