CBEX Resumes Operations: SEC Warns Nigerians of Ponzi Scheme Risks

The Securities and Exchange Commission (SEC) has issued a stern warning about CBEX, an unregistered investment platform that operates under the name ST Technologies International Ltd. Despite being flagged as a Ponzi scheme, the platform has resumed operations, demanding withdrawal fees from users before accessing their funds. 30 days later, it promised 100% return on investment to attract investors but failed to deliver. This latest move by CBEX comes following the SEC’s continued efforts to clamp down on its activities and restore confidence in the Nigerian capital market.