.Insists There’s No Crisis In SiBAN
LAGOS – The last seems yet unheard about the controversy currently rocking the leadership of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), especially as regards the reported alleged suspension and eventual expulsion of the association’s president and other members of the executive.
Teeming loyal readers of Independentonline will recall the report to the effect of an alleged expulsion of the earlier suspended president of SiBAN, Mr Obbina Iwuno and a few other members of the SiBAN Board Of Trustees.
In reaction to this, Mr Iwuno has issued a rejoinder rubbishing the expulsion report as a mere “joke taken too far as a faceless group cannot expel a body duly recognised by the law”.
Presented below is the full text of Iwuno’s response:
“Our attention has been drawn to a false and misleading information circulating online by a faceless group who calls themselves SiBAN Board of Trustees, and we would like to set the records straight for the sake of constituted authorities, industry stakeholders and the general public to be well informed and also beware of this rogue actors behind the faceless group.
“SiBAN is an organization duly registered with the Corporate Affairs Commission (CAC) with constituted Board of Trustees, and a trademark by the Federal Ministry of Trades and Investment.
“There is no crisis in SiBAN as the President, the Executive Council and members of the Board of Trustees are running the association seamlessly meeting various critical stakeholders in the ecosystem.
“The claim by some group that it has expelled the Board of Trustees, including the President of SiBAN, Obinna Iwuno is a joke taken too far as a faceless group cannot expel a body duly recognized by the law.
“The primary goal of the faceless group is to establish a shadow administration that operates behind the scenes, accommodate fraudulent activities, with a president serving as a mere figurehead. This is a very laughable misunderstanding of corporate governance as no successful organizations, regardless of size or industry run illegitimately in Nigeria.
“That the actions of this faceless group is a feeble attempt to kick against the reforms that will dismantle some of their fraudulent activities like the creation and proliferation of memecoins, operating unregistered, unlicensed and unregulated crypto hedge funds and others where many Nigerians have lost millions of Naira unchecked.
“The general public should beware and not interact with this faceless group, nor enter any dealings with them on behalf of SiBAN. Anyone who does so is doing it at his or her own risk”.
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