For Nigeria's digital economy to thrive, SIBAN advocates it must be built on uncompromising integrity and relentless innovation. SIBAN President Obinna Iwuno represented the country’s digital asset sector at the FATF/GIABA Joint Experts Meeting in Accra, Ghana organized by the Government of Ghana and its Ministry of Finance. It gathered representatives from Financial Intelligence Units (FIUs) and experts from Europe, South America, Africa, the Middle East, and North America.
This meeting provided an important platform to connect Nigeria’s innovation path with global compliance standards. It also allowed for engagement with leading stakeholders about the future of blockchain and digital assets in Africa. Highlighting some of the key benefits of SIBAN participation.
Directing Global Policy and Integrity
SIBAN played a crucial role in protecting Nigeria’s financial reputation and shaping policy.
- Policy Input: Mr. Ibinna Iwuno made sure to include the unique challenges and realities of Africa's digital assets landscape and compliance with global requirements in the conversation. This directly affected how FATF recommendations, which shape Nigeria’s national rules, are developed.
- Compliance Commitment: Engaging with FATF shows that the Nigerian industry is actively committed to Anti-Money Laundering, Counter-Financing of Terrorism and Counter Proliferation Financing (AML/CFT/CPF) standards. This commitment is crucial for maintaining the nation's reputation in the international financial community.
Advancing Regional Collaboration and Benchmarking
Beyond global policy, the forum strengthened SIBAN’s regional leadership:
- West African Voice: SIBAN’s attendance made sure the West African view on virtual asset regulation was strongly represented in the GIABA framework. This helped promote a united and informed regulatory strategy within ECOWAS states.
- Best Practices: This high-level networking provided direct insight into international best practices and rising regulatory trends. It allowed SIBAN to compare Nigeria’s approach with established markets around the world and its peers.
The main discussions focused on updating regulations, developing the ecosystem, and collaborating regionally. This highlighted the need for African stakeholders to work together. SIBAN’s attendance was an important step in creating a responsible, safe, and globally integrated future for Nigeria's digital economy. It showed that we are not just followers, but active contributors to global financial governance.
We invite founders, business owners, and startups to partner with SIBAN and become part of a network driving policy influence, industry standards, and real business opportunities as we grow Nigeria’s digital economy forward.
To become a member or explore partnership opportunities, send a mail to membership@siban.org and join our Telegram community today.
