Nigeria: Siban Delists Erring Members, Calls for Caution

17 October 2024
This Day (Lagos)
By Emma Okonji

The management of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has delisted some of its members for various offences.

Based on the expulsion and delisting, the association has advised 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 delisted members.

According to a statement jointly signed by the President of SiBAN, Obinna Iwuno and a member of SiBAN Board of Trustees, Mela Claude Ake, the expelled members are no longer 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.

The statement further said: "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."

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