The Blockchain Industry Coordinating Committee of Nigeria (BICCoN), an umbrella body of major blockchain groups in Nigeria has released a statement to support the alleged expulsion of Obinna Iwuno from the Stakeholder in Blockchain Association of Nigeria(SiBAN).
In a statement signed by the group’s executives – Lucky Uwakwe (chairman), Chimezie Chuta (Vice-Chairman) and Kue Barinor Paul (publicity secretary) and seen by Technext, BICCoN says it fully supports “SiBAN’s decision to expel Mr Iwuno and his accomplices from the association.”
Founded in January 2021, BiCCON is an inter-community working group which houses Blockchain Nigeria User Group (BNUG), Cryptography Development Initiative of Nigeria (CDIN), and SiBAN.
Recall that we’ve reported that the prominent blockchain group SiBAN has been engulfed in a series of internal issues which became public recently. SiBAN’s Board of Trustees claimed Obinna had been suspended since May 2024 after a panel of inquiry was launched into allegations of misconduct made against his office.
Founded in 2018, SiBAN styles itself as an association of blockchain & digital assets industry players, by blockchain & digital assets industry players, and for blockchain & digital assets industry players to serve as a self-regulatory body towards a friendlier, safer, and bigger blockchain & digital assets industry in Nigeria.
The board released a statement that the group’s president, Obinna Iwuno, has been expelled from the group alongside ‘his accomplices,’ citing ‘multiple breaches of trust and governance standards’ that SiBAN upholds.
On the contrary, Obinna insists that he is still the duly elected president of the group and has continued to release statements in that capacity.
Read about the leadership tussle here: leadership crisis rocks Nigeria’s blockchain association, SiBAN
BiCCON support Obinna’s expulsion
According to the statement seen by Technext, BiCCON strongly opposed the recent unethical actions credited to Obinna Iwuno and his accomplices.
It also condemned the “unauthorized incorporation of “The Registered Trustees of SiBAN” as an impostor organization of the Stakeholders in Blockchain Association of Nigeria (SiBAN), a key member organization of BICCoN; and from which Mr Iwuno was only recently suspended as President.”
Biccon also claimed that Obinna’s actions, which included “appointing himself as Chairman of this new organization while serving suspension imposed by the original SiBAN,” constitutes a grave violation of trust and governance within the blockchain industry.
Ultimately, the umbrella body says it fully supports SiBAN’s decision to expel Iwuno and his accomplices from the association.
“Their actions, carried out in disregard for SiBAN’s constitution and founding values, have severely undermined the trust placed in them. The fraudulent registration of “The Registered Trustees of SiBAN” is an act of insubordination and deceit that should not stand unchallenged.”
BiCCON urged all stakeholders and government agencies to disregard what it calls an unauthorised entity.
Obinna Iwuno maintains SiBAN presidency
In a different statement, Obinna Iwuno described the leadership struggles at SiBAN as the effect of godfatherism. He says:
‘Corrupt and unfriendly elements within the organisation are hell bent on stopping the current SIBAN leadership from implementing certain reforms while trying to distract the leadership from towing paths that will enable organisational transparency which is the main bedrock of the idea behind blockchain.”
In his words, there are factions within SiBAN who are opposed to the changes that would democratize decision-making, introduce transparency, and bring fresh ideas into the fold.
“For a technology as disruptive and forward-thinking as blockchain, this resistance is not only ironic but also counterproductive to the mission of the organization.” He said.
Also, he describes a set of persons which include Senator Ihenyen Chris Ani, Paul Ezeafulukwe, Toritseju Kaka, Ophi Rume, Emmanuel Babalola as “detractors and sore losers” that have “tried to reduce the association to a WhatsApp group.”
Blockchain stakeholders in the country are hopeful that the lingering leadership tussle will be resolved soon.
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