The Securities and Exchange Commission (SEC) has reacted 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 $1000 balances before withdrawals can be processed.

In a statement, the SEC restated unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered or authorised to offer investment-related services to the Nigerian public.

"As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and 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 SEC said.

The commission advsied the public to refrain from patronising or transacting with CBEX/ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds.

"The public is advised to verify the registration status of Investment platforms via the Commission's dedicated portal: www.sec.gov.ng/cmos before transacting. The Commission remains committed to protecting investors and maintaining market integrity," the SEC said.

ASA