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E-Business

SiBAN Expels Violators of Code of Conduct, Pledges to Sanitize Blockchain Sector

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Stakeholders in Nigeria’s Blockchain sector under the auspices of Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) have begun the process of sanitizing the sector by weeding out bad eggs who brings the sector to disrepute.

The association in a statement released by its President, Obinna Iwuno, said the move became necessary in line with its mandate to promoting and safeguarding the integrity, transparency, and ethical standards of the blockchain industry in Nigeria.

According to the statement, “As part of our mandate, we strive to ensure that our members adhere to the highest ethical and professional standards, particularly in protecting consumers and investors within the blockchain and cryptocurrency space”.

The statement added that investigations and reviews carried out by the association found out that many individuals have flouted its Code of Conduct contrary to the associations mandate and policy.

The statement further read, “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.

“SiBAN’s decision to expel and disassociate ourself from these individuals stems from various documented activities that have undermined the association’s credibility, caused confusion among stakeholders, and misled the public”.

The statement listed the reasons for expulsion and disassociation as follows:

Creation of a Parallel Organisation: Some of the individuals involved have attempted to create or promote a parallel organisation purporting to represent SiBAN’s interests. This has led to confusion within the blockchain community, as well as with regulators, investors, and the public.

Misrepresentation of SiBAN: It has come to our attention that certain expelled and disassociated individuals have falsely represented themselves as officials or representatives of SiBAN without proper authorisation.

Illegal Parading as SiBAN Officials: In addition to unauthorised misrepresentation, some individuals have taken further steps to parade themselves as elected officials of SiBAN, even though they hold no such positions within the association.

Violation of SiBAN’s Code of Conduct: SiBAN has a strict Code of Conduct that requires members to comply with ethical standards and regulatory frameworks, including those set by the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), and other government bodies overseeing financial and technological industries.

As a result of these infractions, the association said that 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
  • Paul Ezeafulukwe
  • Toritseju Kaka
  • Jude Ozinegbe
  • Stanley Golomo
  • Asemota Igiogbe
  • Ifeoma Ben
  • Iliasu Yakubu
  • Others involved in similar activities

“It is important to clarify 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”.

It further called on the general public and stakeholder in the industry to beware of this notice and refrain from dealing with these individuals on behalf of SiBAN.

“Given the situation, SiBAN strongly 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”.

Commitment to Ethical Standards and Consumer Protection, SiBAN reaffirmed its unwavering 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”.

Moving forward the association encourages stakeholders, both in Nigeria and internationally, to engage with SiBAN directly through our official communication channels for any inquiries, confirmations, or reports of misrepresentation.

SiBAN will remain vigilant in addressing any further attempts to mislead the public or operate outside of our established ethical framework.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

FG Partners UK to Combat Cross-border Cyber-crime

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The federal government and the United Kingdom signed an agreement Tuesday to combat the growing threat of cyber-crime. The Memorandum of Understanding was signed following a courtesy visit by David George Hanson, minister of the home office, UK, to the Nigeria Police Force headquarters, Louis Edet House in Abuja.

Transnational crime is a big problem for both the UK and Nigeria, so the governments intend to strengthen existing collaboration efforts to crack down on cyber-criminals and protect their industries from unlawful activities.

Offences such as online fraud, identity theft, digital extortion, and ransomware , operate across many jurisdictions, and frequently necessitate sophisticated cooperation efforts, according to the two governments during a press conference.

Furthermore, Lateef Fagbemi, Nigeria’s attorney-general and minister of justice, established the Joint Case Team on Cybercrime, which aims to address the need for a coordinated and robust approach to combating cybercrime, as stated in the Cybercrimes Act of 2015, which criminalises cyber-related offences.

Hanson underlined the importance of ongoing cooperation efforts to combat international crime in a number of areas, affecting vulnerable individuals.

He said: “We need to look again at how we can build cooperation between the Federal Government, the federal police, and our police forces and National Crime Agency to take action against these international criminals, who are exploiting vulnerable people in a whole range of areas. The National Crime Agency, the Home Office Fraud Department, and the High Commission need to make sure we make a big impact on this transnational crime.”

“The collaboration between the Nigerian Police Force and National Crime Agency continues to serve as a model in international law enforcement cooperation. We have successfully conducted joint operations into many cases of cybercrimes and online fraud. With your [UK government] cooperation, we have continued to bust other criminal networks around the world,” added inspector-general of Nigerian Police Force, Kayode Adeolu Egbetokun.

 


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E-Business

CAC to Prosecute Business Owners Operating Without Registration

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Corporate Affairs Commission (CAC) has reaffirmed its commitment to enforcing business registration laws in Nigeria, warning that individuals and organizations operating unregistered businesses will face prosecution.

In a statement, the CAC emphasized that conducting business without proper registration violates the Companies and Allied Matters Act (CAMA) 2020, undermining transparency and accountability in the corporate sector.

The commission stressed that registration is not only a legal requirement but also a gateway to formal business opportunities, including access to bank loans, government grants, and partnerships.

The enforcement drive will be nationwide, targeting small and medium-sized enterprises (SMEs), online vendors, and informal traders who have failed to comply despite previous awareness campaigns and registration amnesty windows.

The CAC disclosed that enforcement teams, in collaboration with security agencies, will be deployed to identify and prosecute defaulters.

The commission urged business owners to take advantage of its simplified registration platform to regularize their status, noting that compliance will boost investor confidence and improve Nigeria’s ease of doing business. It warned that ignorance of the law will not be accepted as an excuse.

Business owners are advised to act promptly to avoid legal consequences, as the CAC moves to ensure a more structured and regulated business environment in Nigeria.


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NCC Vows to Tackle Online Infringement, Block Illegal Music Websites

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Nigerian Copyright Commission (NCC) has pledged to enforce its legal obligations to combat online intellectual property infringement and urged commercial music users to obtain proper licences from rights holders or their representatives.

NCC Vows to Tackle Online Infringement, Block Illegal Music Websites

The Commission stated that this ensures creators are fairly compensated, supporting the music industry’s sustainable growth.

In a statement commemorating the 2025 World Intellectual Property Day, themed “IP and Music: Feel the Best of IP,” the NCC announced plans to enforce the Copyright Act 2022, which allows for the takedown of infringing materials and blocking of websites hosting illegal content.

Signed by Mrs Ijeoma Egbunike, director of Public Affairs, the statement outlined an aggressive anti-piracy campaign in collaboration with the private sector, targeting the online environment.

Egbunike affirmed the NCC’s commitment to establishing enforceable standards for transparency, digital audits, and real-time royalty reporting to protect creators’ rights. She stated, “The NCC will continue to champion policies that support the growth of the music industry, improve the livelihoods of Nigerian musicians, and foster a culture of creativity and respect for intellectual property.”

Despite the global success of Afrobeats and other Nigerian genres, the NCC noted that many musicians face low royalty returns due to rampant digital piracy.

To address this, the Commission revised its Collective Management Regulations to enhance transparency and accountability among Collective Management Organisations (CMOs).

The NCC emphasised that proper licensing is a legal obligation and vital for Nigeria’s creative economy, stating, “Music must feel the beat of intellectual property for the full potential of creativity to be realised.”

The Commission highlighted that creators’ livelihoods depend on fair royalty compensation.

Recent enforcement measures include the NCC’s designation by the Attorney-General of the Federation as an authority under the Proceeds of Crime (Recovery and Management) Act 2022.

This, combined with the Copyright Act 2022, empowers the NCC to order takedowns and block illegal music distribution websites.


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