To:

Relevant Regulators, Law Enforcement Agencies, and the National Assembly

Blockchain Organizations, Blockchain, Crypto, and Fintech Event Organizers

Local and International Blockchain, Crypto, and Web3 Platforms

All Stakeholders in Nigeria's Blockchain and Technology Industry

Media Houses, the General Public, and To Whom It May Concern

The Network of Blockchain Solutions Advocates Association (NOBSAA) has taken note of the recent public notice released by the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) regarding the activities of Mr. Obinna Iwuno.

It is important to place the facts on record:

1. Obinna Iwuno was not a founder of SiBAN. The association was established long before his leadership tenure. He only emerged later as the 4th President of the association.

2. Rather than building on the collective vision of SiBAN’s founders and stakeholders, Mr. Iwuno chose a path of personal aggrandizement, diverting the association’s mission away from its intended community-driven purpose.

3. This is not the first attempt by Mr. Iwuno to convert a collective institution into a personal vehicle. His approach has consistently undermined the credibility, neutrality, and transparency required of a national blockchain body.

4. By attempting to hijack SiBAN for individual control, he has created confusion within the ecosystem, misrepresented the association to external stakeholders, and compromised trust at a time when the Nigerian blockchain industry requires unity, maturity, and strong governance.

As a stakeholder-driven body, NOBSAA condemns such tendencies of personalization and illegitimacy in our industry organizations. The blockchain ecosystem in Nigeria—and globally—thrives on decentralization, accountability, and collective leadership, not on the ambitions of individuals who disregard due process and the founding principles of the institutions they lead.

We therefore urge:

Regulators and law enforcement agencies to take due note of this development.

Blockchain and fintech event organizers to exercise caution in recognizing or giving platforms to individuals or factions operating outside established legitimacy.

Stakeholders across the ecosystem to work together to safeguard the integrity of our institutions from hijack and manipulation.

The Nigerian blockchain industry must stand for decentralization, transparency, and collective progress—not the personalization of associations by any single actor.

Signed,
Network of Blockchain Solutions Advocates Association (NOBSAA)
www.nobsaa.org