The Securities and Exchange Commission (SEC) says the Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd., remains banned in Nigeria. SEC, in a public notice issued on Wednesday, said that CBEX, also known as Smart Treasure/Super Technology, had not been registered by the commission. The commission, however, advised the public to refrain from patronising …

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said the agency had recovered some money from crypto bridge exchange (CBEX), a failed digital investment and trading platform. In an interview on a national television programme, Olukoyede announced that the EFCC had made some arrests in connection with the CBEX fraud. The EFCC chairman said the …

The Crypto Bridge Exchange (CBEX) trading platform, accused of scamming Nigerians, has resumed operations and introduced new withdrawal options to restore investor confidence. Despite ongoing investigations into an alleged N1.3 trillion digital trading fraud affecting over 600,000 Nigerians, CBEX is allowing new users to register, trade, and withdraw profits. According to CBEX sources, an insurance verification process and external audit …

The Economic and Financial Crimes Commission (EFCC) has declared one foreign national, Elie Bitar wanted for his alleged involvement in a cryptocurrency fraud linked to the online trading platform, Crypto Bridge Exchange. According to an official bulletin issued by the Commission, Bitar, 41, is wanted for a suspected fraudulent scheme carried out via CBEX, which has reportedly defrauded multiple unsuspecting …

One of the suspected promoters of the cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), Adefowora Abiodun, who was recently declared wanted by the Economic and Financial Crimes Commission (EFCC), voluntarily surrendered himself to the anti-graft agency on Monday. Justice Emeka Nwite of the Federal High Court in Abuja, in a ruling on Thursday last week, approved the EFCC’s request to …

The Economic and Financial Crimes Commission (EFCC) has clarified that it is not a regulatory or clearing agency for online businesses in Nigeria. Findings by Newsmen revealed that the promoters of Crypto Bridge Exchange, aka CBEX platform, operated under a company registered as ST Technologies International Limited. ST Technologies was registered with the Corporate Affairs Commission on 25 September, 2024, …

Famous Ibadan-based Fuji singer, Taye Currency reacted after losing N10 million to CBEX. It was reported that CBEX, a recently crashed digital trading platform, left investors stranded after they were logged out and unable to access their funds. The Singapore-based company which collapsed on Monday 14 April 2025, swept the sum of N1.3 trillion investors funds. Reacting to the incident …

On Page 28 of his very provocative book, The Present Darkness: A history of Nigerian organized crime, (2016) Stephen Ellis, British historian and Africanist, compared Nigerian politics to con artistry. Their practices, he said, were not different from acts of fabulists and fraudsters. Ellis’ take on Nigerian leaders synchronizes with a Henry Louis Gate’s The New Yorker piece of 25 …

The human heart is made of stone, and as Nigerians, we have stubborn traits embedded in us that keep us repeating the same thing after being warned and punished severely. The trend of Ponzi scheme didn’t start today, but from the days of MMM to CBEX now, the issue persists. The perpetrators present these schemes to us by rebranding and …

Nigerians on several social media platforms have begun to count their losses as a digital asset trading platform (popularly known as CBEX) reportedly swept over N1.3 trillion from their investors’ accounts. The digital trading platform crashed on Monday after the money in their investors’ wallets vanished. CBEX also locked its Telegram channels and postponed its withdrawals while giving investors the …