CBEX: SCUML certificate not clearance to operate

CBEX: SCUML certificate not clearance to operate

The Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering, SCUML. However, EFCC stated that ST Technologies and not CBEX registered with SCUML, saying that the certificate didn’t imply clearance by the Commission. The clarification comes after Lesley Kessy Oviritsa, one of the victims of the CBEX Ponzi S…

CBEX Isn't the Last: How to detect the next Ponzi scheme in Nigeria

Ponzi schemes lure participants with grand promises but rely entirely on fresh funds rather than genuine profits. Early detection of red flags can prevent financial ruin. By understanding key warning signs such as lack of licensing, inflated return claims and urgent recruitment tactics, prospective investors can protect their savings. This insight outlines key indicators to help you spot a CBEX‑Style fraud early. Applying these guidelines will e…

EFCC Clarifies It’s Position On CBEX, Reaffirms Commitment to Tackling Financial Fraud - News360 Info - Breaking News, Nigerian News and Multimedia, World News.

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 […] The post EFCC Clarifies It’s Position On CBEX, Reaffirms Commitment to Tackling Financial Fraud appeare…

CBEX: "We are not regulatory body of online businesses"

GistReel The Economic and Financial Crimes Commission (EFCC) has clarified that it is not a regulatory or clearing agency for online businesses, in response to recent reports surrounding the Crypto Bridge Exchange (CBEX) platform. In a statement shared via its official social media handle, the EFCC distanced itself from endorsing or approving the CBEX platform, which had attracted thousands of investors. The platform operated under ST Technologi…

EFCC Distances Itself from CBEX Platform, Clarifies Role in Online Business Regulation - TV360 Nigeria

The Economic and Financial Crimes Commission (EFCC) has publicly clarified that it is neither a regulatory body nor an approval authority for online businesses operating in Nigeria. This clarification follows widespread concern surrounding the operations of Crypto Bridge Exchange, also known as CBEX, a trading platform allegedly used to defraud thousands of investors. According to the EFCC, the platform was promoted under the company ST Technolo…

EFCC admits SCUML Certificate not clearance to operate in Nigeria amid CBEX collapse

The Economic and Financial Crimes Commission (EFCC) has said that the Special Control Unit against Money Laundering(SCUML) certificate does not necessarily imply clearance to lawfully operate in Nigeria, amid the collapse of the fraudulent cryptocurrency investment scheme known as “CBEX”. The EFCC, in a statement on Monday, admitted that ST Technologies( not CBEX) is registered […] The post EFCC admits SCUML Certificate not clearance to operate …