The President of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), Obinna Iwuno, has addressed recent attacks and controversies surrounding his leadership, emphasizing that the ongoing distractions from certain factions within the organization will not derail the vision and progress his administration has set for the Nigerian blockchain space.

In response to negative blog posts and internal power struggles, Iwuno dismissed these as the actions of “a few entitled elements” who are resistant to the necessary changes and innovations that SiBAN is implementing.

His leadership team and Board of Trustees which boasts of respected thought leaders and practitioners in the blockchain space such as; Rabiu Abdulhameed Jibia, Dania Oluwaseun Narudeen, Emeka Ezike and Mela Claude Ake have been at the forefront of pushing for a more decentralized and transparent governance system within SiBAN, a stark contrast to the traditional godfatherism that has long plagued many sectors in Nigeria.

“The recent blog posts are mere distractions aimed at discrediting my leadership and slowing down the progress SiBAN has made in positioning Nigeria in the global blockchain landscape,” Iwuno said in a recent statement.

“These attacks are not a reflection of our work but rather the handiwork of a few who refuse to embrace the change and innovation we represent.”

SiBAN, an organization committed to promoting the adoption and regulation of blockchain technology and cryptocurrencies in Nigeria, has seen a surge in interest and influence under Iwuno’s leadership. However, the president’s progressive and transparent agenda has been met with resistance from entrenched interests within the organization who prefer to maintain the old systems of control and power.

Iwuno’s statement continues to read, ‘some of them are also sore losers from the last election like Senator Ihenyen, the then incumbent president whom I defeated in the last elections. Instead of conceding defeat and act honourably in advancing SIBAN has remained bitter.

Someone like Chris Ani is actually an unregistered member of SiBAN and has tried to reduce the association to a WhatsApp group. When was the last time Paul Ezeafulukwe and Emmanuel Babalola (a Binance staff) showed up at any industry event or anywhere in Nigeria? These characters have in the past stood against attempts to reform the association and sought to hijack SiBAN because they believe they own the association and by extension, the industry. Such persons are not fit for SiBAN membership nor leadership. Their actions are no different from that of the bad actors who have caused the public to become more wary of investing in blockchain.

And just as a true proof of their character, they named themselves an inexistent and illegal board, hacked into our official emails and website to install themselves as leaders forcefully against a democratic elected executive.

At a time when the industry needs an image repair from the myriads of allegations that have trailed its existence, and restore public confidence by supporting the good works of NiTDA, SEC and others agencies, this group of people are going about spreading falsehood and deception.

Their action has been condemned and is being addressed with due process. We will not condescend to their level and allow them distract us from our goal of building a strong organisation for the entire industry”

Obinna Iwuno’s administration has been actively working to dismantle these extremist dynamics, promoting inclusivity, transparency, and forward-thinking policies to foster a more open and innovative environment. This push for modernization has earned him both praise and opposition from those who fear losing their influence within the organization.

Despite the distractions, SiBAN under Iwuno’s leadership has made significant strides in elevating Nigeria’s blockchain ecosystem. By engaging with regulators, forming international partnerships, and increasing local participation in the global blockchain conversation, SiBAN is steadily positioning Nigeria as a leading player in the industry.

Iwuno’s administration has also emphasized community-driven efforts, transparency in decision-making, and the importance of educating Nigerians about blockchain’s potential to transform industries such as finance, logistics, and governance.

“The work we are doing at SiBAN is too important to be sidetracked by a few disgruntled individuals who prefer the old way of doing things,” Iwuno added. “We are here to innovate, to push Nigeria forward in the blockchain space, and no amount of negative press or internal opposition will stop us from achieving our goals.”

The current leadership tussle within SiBAN mirrors broader challenges faced by many Nigerian organizations, where innovation and progress are often hindered by conservative forces resistant to change. For the blockchain space, which thrives on decentralization and disruption, overcoming these internal battles is crucial.

As SiBAN continues to grow in influence both locally and internationally, Iwuno’s administration remains focused on its mission of promoting the adoption of blockchain technology in Nigeria. With the continued support of key stakeholders and the community, SiBAN is poised to lead the charge in positioning Nigeria as a hub for blockchain innovation.

Obinna Iwuno remains resolute in his mission: “We are here for the long term, and we will not be deterred by distractions. SiBAN’s future is bright, and we are just getting started.”