Public Statement: Inksnation is NOT a member of SIBAN.

It has come to the notice of SiBAN that a certain platform or group which is called or known as Inksnation is out on social media claiming that it is registered with SiBAN having paid to SiBAN the required fee for membership application. We have a responsibility to refute this claim and clarify any misapprehension.

From our records, we hereby state categorically that Inksnation is not registered with SIBAN in ANY way. For emphasis, Inksnation is not a member of SiBAN.

First, SiBAN’s membership process is an open and transparent process, with our membership application information available to any intending member. SiBAN membership application form is publicly available here on our website. As clearly published on that web page, SiBAN membership registration process is a two-step registration process: (i) application for & payment for membership, and (ii) KYC submission. This means that after completing the first step above, applicant would be sent a confirmation email from SiBAN Membership Desk on the next Saturday. In the confirmation email, the applicant would be provided with a link to complete and submit his/her/its Know Your Customer (KYC) information based on industry standards. After the applicant submits KYC form, the SiBAN Membership Desk would then review the membership application and send a confirmation email containing link to join SiBAN’s exclusive group for registered members only.

Second, from our records, contrary to what Inksnation has claimed publicly and communicated to its followers or members, Inksnation is not a registered member of  SiBAN and never completed any membership application. We establish that on 27 May 2020 at 14:35 (WAT),  one Amos Sewanu Omotade-Sparks applied for SiBAN membership and paid to us 0.00882816 BTC ($83.14 or N29,547.2 at the time of transaction). On 1 June 2020, the SiBAN Membership Unit acknowledged receipt of Mr Omotade-Sparks application and advised that SiBAN Membership Desk would “review your application and approve/disapprove it based on [SiBAN] criteria”. Mr Omotade-Sparks was then required to complete and submit SiBAN Membership Application Review Form to continue its membership application. See screenshot of the 1 June 2020 email below:

Third, according to our records, till the time of writing this public statement, Mr Omotade-Sparks is yet to complete and submit the SiBAN Membership Application Review Form to SiBAN. The submission of this form would have enabled SiBAN Membership Unit review the applicant’s details and then it would advise accordingly whether the membership application was successful OR not successful, or advise any further steps. In other words, SiBAN reserves the right to approve or disapprove membership application.

Fourth, for clarification and emphasis, we point out that all membership applications are subject to review and verification. This is stated in the terms of membership application clearly published on the membership application page on our website: One of the terms is that “[m]embership application is not automatic but subject to verification and review. ALL applications are subject to this term.

Therefore, from what has been established above, it is clear that Inksnation is not a member of SiBAN and did not complete any membership application to join our community. 

When we raised an anti-scam alert through our Twitter channel about Inksnation, it was squarely based on the information available to the SiBAN Secretariat and the SiBAN community about the Inksnation project whose activities have been reported to SiBAN. Regardless of the outburst from Inksnation and its followers or members, SiBAN’s position is that members of the blockchain community and the general public should BEWARE of  Inksnation project. We have labelled it a scam because it has a Ponzi scheme model, whether the promoters and followers concede to this reality or not. Sooner or later, the promoters and their followers will come to realize this, if they do not already do. 

Our role therefore is not to take on any personalities but focus on projects, ensuring that the members of the blockchain community and the general public are aware of the risks in the space and get to ask the right questions.

SiBAN will continue to raise awareness against any project that is considered unhealthy for the growth and development of Nigeria’s blockchain and cryptocurrency space, especially projects that give the emerging blockchain industry a bad name. We enjoin all well-meaning members of the community to support this cause.

SiBAN Secretariat

Leave a comment