SiBAN Sacks Obinna Iwuno, Its National President Over Abuse of Power

The board of trustees of Stakeholders in Blockchain Association of Nigeria (SiBAN) has removed Mr. Obinna Iwuno, its national president for abuse of position.

In a statement made available to Nigeria CommunincationsWeek, the board accused him of unilaterally registering an illegal body named “The Registered Trustees of SiBAN” without proper consultation or approval by the community or the SiBAN leadership. “This act amounts to utter fraud.

“Mr Obinna Iwuno, while under suspension as president, has appointed himself as the Chairman of his own Board of Trustees, and Mr. Emeka Ezike, the suspended VP (Media & Publicity) designated as the Secretary of the Board of Trustees.

“Other SiBAN-registered members named as members of the Board of Trustees of this unauthorized association include Rabiu Abdulhameed Jibia (suspended Acting Vice President, Memberships) Dania Oluwaseun Narudeen (aka Seun Dania), and Mela Claude Ake.

“The date of this registration is 17 August, 2024, apparently after Mr. Iwuno and the Executive Council had been suspended and a Panel of Inquiry was still sitting.

“This disregard for our dear association, its founders, its past and present leaders, and its members gravely and flagrantly undermines the principles on which SiBAN is founded since 2018. Apparently, the illegal and unauthorized action of Mr Obinna Iwuno and his accomplices was carried out in bad faith,” the statement stated.

Another allegation levelled against him includes:

Insubordination and Lack of Cooperation: Despite being entrusted with a leadership role, Mr. Obinna Iwuno has displayed a persistent lack of cooperation with the ongoing efforts to maintain transparency and integrity within our community.

Said to have acted independently, ignoring repeated calls for accountability and oversight, and refusing to engage constructively with the SiBAN Caretaker Committee or other leadership bodies and stakeholders.

“We, the founders and members of our dear association will not tolerate any impersonation and passing-off of SiBAN, especially perpetuated in the most fraudulent manner by a supposed leader whom we, as guardians, stewards, and members, entrusted our dear association to as president in December 2022.

“Given these criminal, grave, and condemnable violations, all individuals listed as trustees of this newly formed association purportedly holding out itself as “SiBAN” are hereby expelled from our dear association with immediate effect. Consequently, all our members, affiliates, partners, government agencies, including CBN, NITDA, CAC, NFIU, SEC, the media, other associations and bodies, blockchain organizations, and members of the general public are hereby put on notice to beware of this development and avoid having any dealings whatsoever with the fraudulently registered association known as the “Registered Trustees of SiBAN,” the board concluded.