The Securities and Exchange Commission (SEC) of Nigeria has issued a renewed and forceful warning against the operations of Crypto Bridge Exchange (CBEX), also known as ST Technologies International Ltd. The commission clarified that the entity continues to operate in violation of regulatory frameworks and remains unauthorized to provide investment or crypto-related services in Nigeria.
In its public notice dated Wednesday, June 11, the SEC emphasized that CBEX—also referred to in some instances as Smart Treasure or Super Technolog—is not registered or licensed to engage in any capital market activities. The move is part of the commission’s broader commitment to preserving the integrity of Nigeria’s financial system amidst the growing influence of digital assets.
This latest warning follows a pattern of previous alerts regarding CBEX, with the commission noting that despite multiple advisories, the company has persisted in its unregulated operations. The SEC’s action aims to protect investors from potential risks tied to engaging with platforms that lack proper authorization.
With Nigeria's cryptocurrency market expanding rapidly, the announcement underscores the critical need for due diligence and regulatory compliance. The SEC continues to advocate for investor protection by enforcing its mandate and cautioning against the use of unlicensed platforms.
For participants in the crypto space—whether individual investors or institutional stakeholders—this development signals the importance of verifying the legitimacy of digital asset service providers. Platforms that are not recognized or approved by the SEC may pose significant financial and legal risks to users.
The commission also reiterated its ongoing efforts to promote investor education, ensuring that the public remains informed about the risks and responsibilities associated with digital asset investments. Through public notices, campaigns, and compliance measures, the SEC is working to create a more transparent and secure financial environment for all market participants.
As Nigeria positions itself within the global crypto landscape, regulatory enforcement remains central to safeguarding investor interests and strengthening trust in the system. The SEC’s decisive stance on CBEX serves as a clear message: compliance is not optional.