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By Chinenye Anuforo
The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) has expelled several members and disassociated itself from others due to violations of the association’s Code of Conduct.
SiBAN, a registered non-profit organization dedicated to promoting ethical standards in the Nigerian blockchain industry, took this action following investigations into activities deemed detrimental to the association’s credibility and misleading to the public.
According to a statement signed by Obinna Iwuno, President, SiBAN which was sent to Daily Sun, “Following thorough investigations and reviews, several individuals have been found to be in violation of SiBAN’s Code of Conduct, which every registered member is bound to uphold. Consequently, these individuals have been expelled from SiBAN, while others have been disassociated due to their unregistered status and unauthorised activities that contravene the association’s objectives and policies.”
The statement read that the decision to expel and disassociate itself from the individuals stems from various documented activities that have undermined the association’s credibility, caused confusion among stakeholders, and misled the public.
These actions are detailed as follows: Creation of a parallel organisation; misrepresentation of SiBAN, illegal parading as SiBAN officials and violation of SiBAN’s code of conduct.
As a result of the infractions, the following individuals have been expelled from SiBAN, or in cases where they were never registered members, we disassociate ourself from them: Emmanuel Babalola, Chris Ani, Senator Ihenyen, Tony Emeka Nwabishop.
Others include: Paul Ezeafulukwe, Toritseju Kaka, Jude Ozinegbe, Stanley Golomo, Asemota Igiogbe, Ifeoma Ben and Iliasu Yakubu
SiBAN clarified that while these individuals were either registered members of the association at one time or associated with SiBAN, their actions are not representative of the association’s values or goals.
The group therefore advises all members of the public, businesses, and regulatory bodies, including the Securities and Exchange Commission (SEC), National Information Technology Development Agency (NITDA), Nigeria Financial Intelligence Unit (NFIU), Central Bank of Nigeria (CBN), and other relevant government agencies, to refrain from engaging in any dealings with the aforementioned individuals on behalf of SiBAN.
“These individuals are not authorised to represent SiBAN in any capacity, and any claims to the contrary are false and misleading. Any dealings with them under the impression that they are acting on behalf of SiBAN should be considered illegal and should be reported to the association.”
SiBAN reaffirmed its unwavering in its commitment to ensuring that the blockchain industry in Nigeria operates transparently, ethically, and in full compliance with national regulations. “As the leading association for blockchain stakeholders in Nigeria, we will continue to uphold the highest standards in all our activities, including the enforcement of our Code of Conduct and the promotion of safe and fair practices in the industry”,
