See more as EFCC explains certificate issued to CBEX operator and its uses, gives advice

• The EFCC has issued a connection clarifying the SCUML certification issued to the CBEX operator
• The Commission noted that the certificate was issued to ST Technologies but did not service arsenic a clearance to operate
• Nigerians who invested successful the CBEX cryptocurrency scheme, which has present collapsed, person been counting their losses

Legit.ng journalist Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

The Economic and Financial Crimes Commission (EFCC) has issued a clarification regarding the issuance of a Special Control Unit against Money Laundering (SCUML) certificate to ST Technologies, amid contention surrounding the collapsed cryptocurrency concern scheme, Crypto Bridge Exchange (CBEX).

EFCC clarifies certificate issued to CBEX operators Photo credit: EFCC
Source: Facebook

In a statement released connected Monday, April 21, the anti-graft bureau explained that the SCUML certificate does not represent regulatory support oregon ineligible clearance to run immoderate concern successful Nigeria.

The EFCC made the clarification pursuing reports linking the certificate to CBEX, which is alleged to person defrauded investors nether assorted aliases, including Smart Treasure and Super Technology.

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The EFCC confirmed that ST Technologies, believed to beryllium affiliated with CBEX, was registered nether SCUML successful accordance with Section 17 of the Money Laundering (Prevention and Prohibition) Act, 2022.

However, it stressed that SCUML registration is simply a statutory request for each Designated Non-Financial Businesses and Professions (DNFBPs), and does not magnitude to an endorsement oregon regulatory license.

The Commission encouraged the public to stay vigilant and consult with due regulatory agencies earlier engaging successful fiscal oregon concern schemes.

The EFCC connection reads:

"ST Technologies, not CBEX, registered with the Special Control Unit against Money Laundering (SCUML) successful enactment with Section 17 of the Money Laundering (Prevention and Prohibition) Act, 2022."Registration is simply a statutory request for each Designated Non-Financial Businesses and Professions (DNFBPs) successful Nigeria, successful accordance with the country’s Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regime."The EFCC is not a clearing location oregon regulatory authorization for online businesses.However, fiscal fraud of immoderate benignant falls wrong the remit of the Commission, and it remains committed to ensuring justness for victims of the CBEX scam."

EFCC wants Nigerians to beryllium vigilant earlier investing Photo credit: efcc
Source: Twitter

SEC denies approving CBEX

The Securities and Exchange Commission (SEC) has besides distanced itself from the cryptocurrency platform, clarifying that neither CBEX nor immoderate of its affiliates had been licensed oregon approved to run in Nigeria's superior market.

SEC said:

"The attraction of the Securities and Exchange Commission ("The Commission") has been drawn to caller media reports/publications connected the activities of CBEX (Crypto Bridge Exchange). CBEX, which besides operates nether the firm individuality of ST Technologies International Ltd, Smart Treasure/Super Technology, has held itself retired arsenic a integer plus trading platform, offering precocious returns to investors successful Nigeria."The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the Commission astatine immoderate clip to run arsenic a Digital Assets Exchange, solicit investments from the nationalist oregon execute immoderate different relation wrong the Nigerian superior market."

Names, faces allegedly down CBEX

Ealier, Legit.ng reported that assorted names person been mentioned arsenic portion of the CBEX ponzi scheme scam that near investors reeling from dense losses.

Names specified arsenic Adefowora Abiodun and Oluwanisola Adefowora were mentioned arsenic leaders and representatives of the Ponzi scheme.

Others see Seyi Oloyede and Emmanuel Uko, who are identified arsenic members of the CBEX.

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Source: Legit.ng