CBEX (Crypto Bridge Exchange) and ST Technologies International Ltd Unregistered Digital Asset Advisory

The attention of the Securities and Exchange Commission (“The Commission”) has been drawn to recent media reports/publications on the activities of CBEX (Crypto Bridge Exchange) . CBEX, which also operates under the corporate identity of ST Technologies International Ltd , Smart Treasure/Super Technology , has held itself out as a digital asset trading platform, offering high returns to investors in Nigeria. The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the Commission at any time to operate as a Digital Assets Exchange, solicit investments from the public or perform any other function within the Nigerian capital market. Preliminary investigations carried out by the Commission have revealed that CBEX engaged in promotional activities to create a false perception of legitimacy, in order to entice unsuspecting members of the public into investing monies, with the promise of implausibly high guaranteed returns within a short timeframe. CBEX has failed to honour withdrawal requests from their subscribers and abruptly closed their physical offices, amid mounting complaints. Pursuant to the provisions of Section 196 of the Investments and Securities Act 2025 , the Commission would collaborate with relevant law enforcement agencies to take appropriate enforcement action against the CBEX, its affiliates and promoters. The Commission uses this medium to remind the public to REFRAIN from investing in or dealing with any entity offering unrealistic returns or employing similar recruitment-based investment models. Prospective investors are advised to VERIFY the registration status of investment platforms via the Commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them. SIGNED MANAGEMENT April 17, 2025