The Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN) are currently embroiled in an internal dispute involving the association’s president Obinna Iwunno and the upper echelon of the association.
SIBAN, an advocacy group set up to promote blockchain Technology in Nigeria and was recently tasked to implement Nigeria’s first blockchain policy expelled the current president after a dispute stemming from a recent company filing.
The association also expelled Emeka Ezike, Rabiu Jibia, Dania Narudeen, and Mela Claude Ake in the ongoing dispute.
The suspension of the aforementioned stemmed from a recent company filing by Obinna Iwunno which named himself and the suspended individuals as “The Registered Trustees of SIBAN”.
The SIBAN trustees described this filing as fraudulent as the president who made the filing and the individuals included in it were suspended back in May due to allegations of financial mismanagement.
Former Executive Secretary of SIBAN Rume Ophi in a petition claimed that Obinna Iwunno tried to withdraw SIBAN from the Blockchain Industry Coordinating Committee of Nigeria (BICCON).
This did not go down well with the SIBAN executives who recognized the advantages that BICCON bestows on SIBAN. BICCON despite being a younger organization has more connections in the North and is an important member of the Nigerian crypto ecosystem.
BiCCON rejected the application as it didn’t carry the requisite signatures from other executives.
The relationship between the SIBAN president and his executives has deteriorated to the level of the Board of Trustees revoking the President’s administrative access to the association’s website, and virtual group on WhatsApp.
They are also currently trying to recover the database of email information of the SIBAN members which includes enthusiasts, professionals, and blockchain companies.
Obinna Iwuno in a phone call to Techcabal reacted to the ongoing tussle, claiming the board of Trustees wanted him to report to them in a move that invalidates his powers as the current president.
The tussle between both parties risks the disintegration of the foremost Blockchain group in Nigeria which had been very vocal on the promotion of blockchain technology and the fight for a favorable regulatory framework.
Photo credit : Tekedia