14:I[72738,["9344","static/chunks/9081a741-c61dd986cfa0c828.js","6408","static/chunks/00cbbcb7-c04264a14f470d4a.js","8173","static/chunks/8173-e1d12adf7f074d18.js","7970","static/chunks/7970-68e8cd5e8b40566f.js","3539","static/chunks/3539-8096901da566e585.js","2738","static/chunks/2738-38124730e76cb427.js","8827","static/chunks/app/(dashboard)/account/news/%5Bid%5D/edit/page-a95ef39f33f5f8c7.js"],"UpdateNewsForm"] 15:T6b1,

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged Nigerians to exercise caution and steer clear of Ponzi schemes, warning that such investment platforms often lure victims with promises that are simply too good to be true.

He said: “You can identify a Ponzi scheme when an entity makes offers that appear certainly untrue and are bogus.

“The definition we have in the ISA (Investments and Securities Act, 2025) clearly tells you that when an investment firm makes any promise that is almost totally unattainable, you will know that that is clearly a Ponzi scheme.”

The SEC raised the alarm after preliminary investigations uncovered that CBEX, a firm also operating under the names ST Technologies International Ltd, Smart Treasure, and Super Technology, had been using deceptive promotional tactics to mislead the public.

According to the SEC, CBEX had presented itself as a digital asset-trading platform, enticing Nigerians with the promise of unrealistically high and guaranteed returns within a short period.

In an official statement, the SEC clarified: “The Commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the Commission at any time to operate as a Digital Assets Exchange, solicit investments from the public or perform a

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