The Economic and Financial Crimes Commission (EFCC) has made it clear that it does not serve as a regulatory or approving body for online ventures in Nigeria.
This clarification follows investigations by Saturday PUNCH, which uncovered that the operators of the Crypto Bridge Exchange, widely known as CBEX, were linked to a company named ST Technologies International Limited.
According to the findings, ST Technologies was formally incorporated with the Corporate Affairs Commission (CAC) on September 25, 2024. It later registered with the EFCC’s Special Control Unit Against Money Laundering (SCUML) on January 16, 2025.