The Securities and Exchange Commission has declared that Crypto Bridge Exchange, also known as CBEX, is not registered to operate as a digital assets exchange in Nigeria, warning the investing public against transacting with the platform.

In a circular released by the commission on Thursday, it stated that CBEX, operating under various aliases such as ST Technologies International Ltd and Smart Treasure/Super Technology, had been engaging in unauthorised investment solicitation, offering implausibly high returns to unsuspecting Nigerians.

“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,” the SEC stated.