The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), Nigeria’s leading blockchain self-regulatory body, has taken a decisive step in advancing regulatory collaboration by engaging with the Nigerian Financial Intelligence Unit (NFIU) recently.
During the engagement session, SiBAN’s President, Obinna Iwuno underscored the association’s commitment to compliance, transparency and responsible innovation in Nigeria’s blockchain and digital assets ecosystem.
“Nigeria’s reputation in international finance depends on our ability to maintain high standards of compliance. By working with the NFIU, SiBAN is ensuring that blockchain and digital assets operators in Nigeria contribute positively to the fight against financial crime and safeguard Nigeria from grey-listing risks,” he assured.
Key discussions centered on operators’ reporting obligations under Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Counter-Proliferation Financing (CPF) frameworks, which were noted as critical areas to Nigeria’s standing in global financial markets.
Meanwhile, the NFIU has welcomed SiBAN’s proactive engagement and will be hosting a 2-day capacity-building workshop on; “Building Effective AML/CFT/CPF Frameworks: Balancing Innovation and Integrity in Nigeria’s Virtual Assets and Fintech Ecosystem”, in collaboration with the Centre for Democracy and Development, MacArthur Foundation, Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
This workshop will serve as a platform to strengthen collaboration between regulators and industry stakeholders, build capacity for effective compliance practices and position Nigeria as a trusted participant in global financial markets.
SiBAN remains committed to advancing Nigeria’s digital economy while protecting its financial integrity.
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