SIBAN introduces Scam List, to bring about Sanity in Nigeria cryptospace

Sanity may gradally visit the Nigerian cryptosphere as Stakeholders in Blockchain Association of Nigeria (SiBAN), introduces the SiBAN ‘Scam Alert’ to get scammers blacklisted.

Per a statement published on their website, on December 06, 2019, the association stated the motivation behind the bold move;

“We at SiBAN recognize that Nigeria is already struggling to compete globally under the weight of the bad image caused by corruption in our country. This, no doubt, also greatly affects adoption of both blockchain and crypto projects from the Nigerian space to the world.”

Nigeria in recent years have become globally recognized for internet fraudulent activities, duping and money laundering and this has ruined the reputation of the country on so many levels, the cryptocurrency market, for example. As a result of its ability to not be traced or monitored, blockchain technology has been seen as a potential hub for criminal activities for criminals that want to bleed the system, unnoticed and untraceably. Furthermore, it is also an attractive prospect for dubious virtual currencies, to be pushed on unsuspecting individuals. These and many more negative factors, have forced the association to realize these activities are sapping the enthusiasm in the adoption of the highly potential industry and how it has become an issue that must be addressed.

While it recognizes the limitation of resources compared to established crime fighting institutions, like the Economic Financial Crimes Commission (EFCC), it has however promised to at least, work in its capacity as an association in the interest of the general market to ensure that the Blockchain community has zero tolerance for scammers and one of the ways they have proposed, is the introduction of SiBAN SCAM ALERT.

The SiBAN SCAM ALERT, is a decentralized monitoring of scam activities in the space that enables member of the public to report scams. This will enable the organization to rebroadcast the scam report across their network and publish the scammer’s details on SiBAN Blacklist, which will be openly available on their website, It is easy, and reliable and all anyone needs to do, is to send an email containing details of the scam directly to with reporter’s details, such as name, phone number, and necessary details of the scam included in the mail.


Get Free Email Updates!

Signup now and receive an email once I publish new content.

We will never give away, trade or sell your email address. You can unsubscribe at any time.

Blockchain Women Conference

Comments (No)

Leave a Reply