SEC Warns Nigerians Against Investing in Unregistered Platform CBEX
Director-General of the SEC, Emomotimi Agama
The Securities and Exchange Commission (SEC) has issued a strong warning to Nigerians against investing in Crypto Bridge Exchange (CBEX), a platform claiming to offer digital asset trading services. According to the commission, CBEX is not registered or authorized to operate as a digital assets exchange in Nigeria.
In a circular released on Thursday, the SEC disclosed that CBEX, also known as ST Technologies International Ltd and Smart Treasure/Super Technology, has been soliciting investments illegally while promising unrealistic returns of up to 100% in just 30 days.
Fraudulent Claims and Deceptive Practices
The SEC stated that preliminary investigations revealed CBEX was promoting false information to appear legitimate. The platform allegedly displayed fake withdrawal records, creating the illusion that investors were successfully cashing out profits. However, several users have complained of failed withdrawal attempts, with the company shutting down its physical offices and becoming unreachable.
“The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration… to solicit investments from the public or perform any capital market functions,” the statement read.
Enforcement Action Underway
Under the Investments and Securities Act 2025, the SEC is now working with law enforcement agencies to investigate and take legal action against CBEX and its promoters. The Commission warned that no operator of illegal digital investment schemes will go unpunished.
SEC Director-General Emomotimi Agama noted that the new law strengthens the SEC’s ability to prosecute Ponzi scheme operators, especially those in the virtual asset space. He assured the public that CBEX promoters would face consequences.
“In the world of investment, wisdom is not just about making profits — it’s about avoiding traps. Always verify before you invest.”
tay Safe: Don’t Fall for Get-Rich-Quick Promises
The SEC urged Nigerians to be cautious and avoid platforms promising unrealistic returns, especially those not registered or regulated by the Commission. Investors are advised to always verify the legitimacy of any digital investment platform with the SEC before committing funds.
CBEX is the latest example of how fraudsters exploit the digital space to deceive unsuspecting investors. While innovation in finance is welcome, it must operate within a regulated and secure framework. Always check with regulatory bodies before investing and remember: if it sounds too good to be true, it probably is.
