Examining Obinna Iwuno’s time and legacy as SiBAN President as he exits the stage

As Nigeria’s blockchain and digital asset ecosystem prepares for a leadership transition, attention has turned to the legacy of Obinna Iwuno, the outgoing president of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN).

After steering the association through a period of deep institutional reform and heightened regulatory engagement, Iwuno is stepping aside this January, closing a chapter that many industry observers describe as transformational.

His departure follows the completion of his tenure and a successful internal election that produced a new executive team, scheduled to be sworn in this month. While he will no longer occupy the presidency, there’s a consensus that Iwuno’s influence within Nigeria’s blockchain ecosystem will continue to grow.

The structures he helped build have reshaped SiBAN into a more credible, visible and policy-relevant institution.

When Iwuno assumed leadership, SiBAN was still largely a community-driven group. It had limited formal structure, modest national visibility and little direct engagement with policymakers. Nigeria’s digital asset industry was operating under intense regulatory uncertainty, with questions around compliance, consumer protection and legitimacy clouding the sector’s growth.

Over the course of his tenure, that reality changed. SiBAN evolved into a formally constituted and legally recognised industry body, with clearer governance, defined operational processes and an expanding national footprint.

Central to that evolution was a deliberate push to move the association from volunteer coordination to professional administration.

Some of Iwuno’s standout achievements as SiBAN President

One of Iwuno’s most significant achievements was the establishment of a functional Secretariat staffed with full-time employees to manage day-to-day operations. This was reinforced by the opening of SiBAN’s first physical office in Abuja, a strategic move that positioned the association closer to regulators and policymakers while signalling its national ambitions.

Under his leadership, SiBAN also adopted a formal constitution, electoral guidelines and governance frameworks that strengthened internal accountability and democratic processes. These reforms ensured continuity beyond any single individual, a point Iwuno repeatedly emphasised during his presidency.

"A leader’s greatest success is not in the length of his stay, but in the strength of the foundation he leaves behind,” he said in a statement reflecting on his decision not to seek a second term.

Perhaps the most defining institutional milestone of his tenure was the introduction of the industry’s first comprehensive Code of Ethics. Designed to promote self-regulation, standard practice and consumer protection, the framework helped build confidence among regulators, investors and the wider public at a time when digital assets faced heightened scrutiny.

Externally, Iwuno focused on positioning SiBAN as a bridge between private-sector innovators and public institutions. The association deepened engagement with key government agencies, including the Securities and Exchange Commission, the Nigeria Financial Intelligence Unit and the National Information Technology Development Agency.

These relationships contributed to more structured dialogue around compliance, oversight and the responsible adoption of blockchain technologies.

SiBAN’s growing policy relevance was reflected in its presence at high-level forums such as the NCMI Compliance Summit 2025, the FATF/GIABA Joint Experts Meeting, the Nigeria Stablecoin Summit, and Moonshot 2025, among others.

Through these engagements, the association became a recognised voice in conversations shaping Nigeria’s and Africa’s digital asset regulatory future.

Membership expansion was another priority.

During Iwuno’s presidency, SiBAN broadened its base to include a mix of local and global blockchain and digital asset companies. Strategic partnerships with industry players such as Roqqu supported initiatives around education, adoption and regulatory engagement, while enhancing the association’s credibility within and beyond Nigeria.

Iwuno, a Nigerian blockchain and technology professional, brought prior experience in ecosystem development and policy engagement to the role. As founder of CBC Blockchain Services, he has worked at the intersection of innovation, compliance and growth, a background that informed his approach to institutional leadership.

Despite calls from within the association to seek another term, he declined. He described the decision as deliberate, arguing that the core objectives that guided his acceptance of the role had largely been met.

These included laying a solid operational foundation, formalising governance structures, building regulator relationships, increasing SiBAN’s visibility locally and globally, and securing both local and international partnerships.

“Blockchain technology is Africa’s biggest opportunity to leapfrog and level up with the rest of the world,” Iwuno said. “Digital assets are the future of payments and a solution for bridging financial inclusion. Nigeria has the capacity to lead Africa and stand as a global powerhouse of innovation and adoption.”

Industry analysts and partners have credited SiBAN’s progress under Iwuno with setting new benchmarks for professional leadership in Nigeria’s blockchain sector. The association he leaves behind is more structured, more visible and better equipped to engage the challenges of an evolving digital economy.

As the new executive team, led by President-elect Mela Claude Ake, prepares to take office, SiBAN enters its next phase with a clearer mandate and stronger institutional footing than at any point in its history.

For many stakeholders, that continuity is Iwuno’s most enduring contribution.

In stepping aside, he leaves an association that looks markedly different from the one he inherited and an industry body better prepared to shape Nigeria’s blockchain future.

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