At SiBAN, we are committed to not only providing structure in Nigeria’s blockchain and cryptocurrency community but also sanitizing the space towards enhancing consumer protection and checking illegal practices. This will help us boost investor confidence, foster public trust, improve security, thus encouraging adoption of the blockchain technology across industries.
This is why we have a membership criteria that intending members of SiBAN must meet. There is a general membership criterium which applies to all membership categories. Below is the general membership criteria:
General Membership Criteria
To be eligible for SiBAN membership, you must meet the membership criteria provided in Article 7 of the SiBAN Constitution stated below:
(1) A person is eligible to be a member of the association if the person is:
(a) a natural person and citizen of Nigeria, permanent resident in Nigeria, or a person who has been in Nigeria for a minimum period of two years; or
(b) a legal entity according to laws of the Federal Republic of Nigeria.
So SiBAN welcomes both Nigerians and foreigners, but foreigners must either have permanent residence in Nigeria or must have been in Nigeria for at least 2 years.
Specific Membership Criteria
Then for each membership category, there are specific criteria. This is to help us ensure that every member of SiBAN meets basic requirements consistent with our KYC/AML policy and community policy. The specific membership criteria for our eight (8) membership categories are as follows:
(a) Enthusiasts & Users: Token Holders; Project Ambassadors, Coin Marketers or Salespersons, Country Representatives, etc. Specific Criteria: Standard KYC; Membership Fee: N3500/year ($10)
(b) Experts: Developer (Decentralized Application developers with relevant proficiencies in any aspect of Blockchain development). Specific Criteria: Standard KYC; Membership Fee: N7000/year ($20); Traders, Merchants, and Miners. Specific Criteria: Advance KYC, Membership Fee: N17,500/year ($50)
(a) Sole Proprietors: Standard KYC, Membership Fee: N24,500/year ($70)
(b) Corporate Bodies: Advanced KYC; Membership Fee: N35,000/year ($100)
(3) Professionals Bodies: Standard KYC; Membership Fee: FREE
(4) Public Bodies: Membership Fee: FREE
(5) Educational & Research Institutions: Membership Fee: FREE
(6) Students: Standard KYC, Membership Fee: N3500/year ($10)
(7) Honourary Members: Standard KYC, Membership Fee: Free
(8) Non Governmental Organizations (NGOs): Standard KYC, Membership Fee: Free