Obinna Iwuno, president of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has urged key players in the Nigerian blockchain industry to unite to create a more coordinated and self-sufficient ecosystem.
Speaking at the Web3 Lagos Conference 2025, held in Lagos, he stressed that Nigeria’s blockchain landscape has talent and innovation but still struggles with fragmentation.
Iwuno explained that many operators operate independently instead of joining forces under a unified framework. He emphasised that this lack of collaboration remains one of the industry’s biggest challenges, rather than a lack of talent or projects.
According to him, Nigeria and Africa can only secure their stake in the global blockchain movement if they move beyond isolation to a collective approach.
A vision for self-sufficiency in blockchain
During a panel session at the conference, Iwuno discussed capital flight and limited foreign investment in African projects compared to Europe or South Asia.
He rejected the perception that Africa lacks purchasing power, noting instead the continent’s large and active consumer base. In his view, foreign capital is needed and a homegrown solution rooted in collective effort.
He painted a vision of self-sufficiency where Africans pool their resources to fund promising projects. He argued that if one million Nigerians contributed $100 each, the result would be $100 million in liquidity for blockchain innovation.
His proposal for an African blockchain fund underscores his conviction that Africa’s blockchain future can be driven internally without waiting for international investors.
Iwuno also noted that success stories must begin with grassroots funding and collaboration. He believes Africa can build momentum that attracts global recognition by creating and supporting one successful project.
He noted the importance of policy engagement, calling for closer dialogue between innovators and regulators to inform industry participants about legislative developments.
In addition, he stressed the urgent need for an African blockchain venture capital fund, which could be created by pooling contributions from within the community.
About SiBAN
The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) was founded in June 2018 to promote transparency, collaboration, and accountability within the blockchain and cryptocurrency space. It operates as a lawful association under the right to peaceful assembly guaranteed by Nigeria’s constitution.
SiBAN is critical in advancing blockchain adoption in Nigeria, particularly as the nation is recognised as Africa’s largest economy and one of the leading blockchain players globally.
The association is actively engaged with international and national organisations, including the Blockchain Industry Coordinating Committee of Nigeria (BICCON), Fintech Alliance Coordinating Team (FACT), Blockchain Associations Forum (BAF), and the Centre for Evidence-Based Blockchain (CEEB).
With more than 500 members, 10 affiliates, and over 500 partners, SiBAN is positioned as a central voice in Nigeria’s blockchain ecosystem. Its mission is to secure the industry while fostering innovation in the Fourth Industrial Age.
Transparency and trust remain at the core of its activities. They believe blockchain technology can eliminate leakages, minimise risks, and enhance economic development.
About Web3 Lagos Conference
The Web3 Lagos Conference, organised by Web3Bridge, has emerged as one of Nigeria’s most significant events for blockchain enthusiasts, developers, and investors.
Scheduled from August 28th to 30th, 2025, the three-day event combines physical and virtual participation, offering workshops, hackathons, career fairs, panel sessions, and networking opportunities.
Web3Bridge, the organising body, is dedicated to educating and onboarding developers across Africa to create a sustainable blockchain ecosystem. Through initiatives like the Web3 Lagos Conference, it seeks to empower technical and non-technical participants with the skills and connections necessary to thrive in blockchain.
With sponsors including WAGAProtocol, Hyperbridge, Qubic, and Polkadot, the event provides a platform for collaboration, education, and innovation. It is designed to inspire the next generation of African blockchain leaders while showcasing Nigeria’s growing importance in the global digital economy.