The Securities and Exchange Commission (SEC) has reacted to the operations of CBEX, a digital asset trading platform in Nigeria, saying any of such platform not registered with the SEC is illegal.

This comes amidst the rumors of closure of the platforms over the inability of users to withdraw their funds over the weekend.

Speaking during a virtual engagement with fintech stakeholders on the Investment and Securities Act (ISA 2025) on Monday, the Director General of the SEC, Emomotimi Agama, warned Nigerians against patronizing unregistered platforms.