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    Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

    Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

    President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, establishing a unified framework to regulate virtual assets and strengthen Nigeria's digital economy. The President signed the order pursuant to Section 5 of the 1999 Constitution (as amended), and it took effect immediately, according to a statement issued Friday by presidential spokesperson, Bayo Onanuga. The statement explained that the order was designed to address a fragmented regulatory landscape, where overlapping and disjointed oversight by government agencies had exposed Nigerians to risks such as money laundering, terrorism financing, cybersecurity threats, fraud and revenue losses. It noted that unregistered operators had exploited these gaps in the past to defraud unsuspecting citizens. To close these loopholes, the order establishes a Virtual Asset Council chaired by the Central Bank of Nigeria (CBN), with the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) serving as vice-chairs. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA). The Council will set policy direction, foster cooperation among the agencies, and collaborate with the Attorney-General of the Federation to build a harmonised legal and institutional framework for the sector. A Virtual Asset Office will also be created as the Council's operational arm, with its secretariat based at the CBN. The office will coordinate information sharing, applications and reporting among agencies through an integrated supervisory technology platform. The statement clarified that the order does not create a new regulator or strip any agency of its existing powers. Instead, registration of virtual asset activities will be determined by the nature of the asset involved — the SEC will register security-related activities, while the CBN will handle payment, settlement, custody and other non-security virtual asset services. The Council will resolve any disputes over jurisdiction. As part of the coordinated approach, the CBN is proceeding with a regulatory sandbox that will allow eligible operators to test virtual asset products and blockchain-based solutions under close supervision before they reach the wider market. The NRS is also expected to release a tax policy for the virtual assets sector to strengthen compliance and ensure the industry contributes fairly to national revenue. Additionally, the Federal Government is finalising a Virtual Assets White Paper that will outline the country's long-term policy direction for the sector. The Council has been given 30 days to develop a Harmonised Implementation Framework to guide agencies in enforcing the order.

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    Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

    Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

    President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, establishing a unified framework to regulate virtual assets and strengthen Nigeria's digital economy. The President signed the order pursuant to Section 5 of the 1999 Constitution (as amended), and it took effect immediately, according to a statement issued Friday by presidential spokesperson, Bayo Onanuga. The statement explained that the order was designed to address a fragmented regulatory landscape, where overlapping and disjointed oversight by government agencies had exposed Nigerians to risks such as money laundering, terrorism financing, cybersecurity threats, fraud and revenue losses. It noted that unregistered operators had exploited these gaps in the past to defraud unsuspecting citizens. To close these loopholes, the order establishes a Virtual Asset Council chaired by the Central Bank of Nigeria (CBN), with the Nigeria Revenue Service (NRS) and the Securities and Exchange Commission (SEC) serving as vice-chairs. Other members include the Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA). The Council will set policy direction, foster cooperation among the agencies, and collaborate with the Attorney-General of the Federation to build a harmonised legal and institutional framework for the sector. A Virtual Asset Office will also be created as the Council's operational arm, with its secretariat based at the CBN. The office will coordinate information sharing, applications and reporting among agencies through an integrated supervisory technology platform. The statement clarified that the order does not create a new regulator or strip any agency of its existing powers. Instead, registration of virtual asset activities will be determined by the nature of the asset involved — the SEC will register security-related activities, while the CBN will handle payment, settlement, custody and other non-security virtual asset services. The Council will resolve any disputes over jurisdiction. As part of the coordinated approach, the CBN is proceeding with a regulatory sandbox that will allow eligible operators to test virtual asset products and blockchain-based solutions under close supervision before they reach the wider market. The NRS is also expected to release a tax policy for the virtual assets sector to strengthen compliance and ensure the industry contributes fairly to national revenue. Additionally, the Federal Government is finalising a Virtual Assets White Paper that will outline the country's long-term policy direction for the sector. The Council has been given 30 days to develop a Harmonised Implementation Framework to guide agencies in enforcing the order.

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Revealed! The Gangs Ups, Conspiracies Against Governor Ugwuanyi in Enugu North Senatorial Zone

Seunmanuel Faleye by Seunmanuel Faleye
June 24, 2022
in Featured Story, Opinion Bite, Politics
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Revealed! Gangs Ups, Conspiracies Against Governor Ugwuanyi in Enugu North Senatorial Zone

It is true that humans wants are insatiable. The means to satisfy them is limited due to paucity of fund and lean resources. This is natural and the reality of economics of life and wants.

In Enugu North Senatorial zone (Nsukka ) narcissists have grown in leaps and bounds since their brother, Rt. Hon. Dr. Ifeanyi Ugwuanyi became Governor of Enugu State in 20I5 amidst daunting challenges occasioned by the sudden crash in the price of crude oil that drastically affected government’s revenue and economy.

Their sense of entitlements and expectations, without considering the availability of funds and consequences of their actions is shocking and baffling. That is why they are not appreciative or enthusiastic of Governor Ugwuanyi’s giant strides in Enugu state, especially in Enugu North Senatorial zone, where his footprints are visible and daring.

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They are among the professionals, academics and illiterates. They are few in number and known. They have no political base or value. They are very sadistic, envious, jealous and antagonistic of Governor Ugwuanyi and anybody associated with him other than them. They are vicious enemies within.

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They know the truth, but have continued to intentionally and sadistically peddle lies against Governor Ugwuanyi’s government and performance in Enugu North Senatorial zone. They malign and impugn Governor Ugwuanyi’s personality and government with impunity and at will.

They are social media bandits and tigers. They are selfish, greedy and desperate. They have it- must- be attitude and mentality. They lack character and have no trackrecord or sense of fulfillment. They are not appreciate of anything unless it favours them or they are the one that did it.

They are experts in everything and novices in everything. They are niether altruists nor patriots. They are cynics and skeptics.They are embittered, embattled and enraged. They are fastidious. They are always dismissive and cynically critical of Ugwuanyi and other people’s efforts or achievements.

Ugwuanyi’s predecessors and political enemies are their heroes and models.

This is even when Ugwuanyi has done in his Senatorial zone more than what his predecessors did in their places. They are still not contented or satisfied or at least appreciative. They have been shamed and named by Governor Ugwuanyi in Enugu North zone, without raising hand or making noise.

They are serial and bad losers. Ahead of 2023 general elections and having lost woefully in the primaries, they are all over social media platforms fuming, licking their wounds and gnashing their tooth.

They are now social media party bigwigs, emergence and open letter writers, faultfinders, election officials, legal luminaries, critics of Governor Ugwuanyi, his government and party.

There are alternative political platforms for them, but they lack capacity to make headway. That is why they are angrily obsessed with writing and talking about Ugwuanyi’s government in badlight at all times even at its twilight.

What a shame to narcissists of no means, value or base in Enugu North Senatorial zone.

Seunmanuel Faleye
Seunmanuel Faleye

Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.

Tags: Revealed! The Gangs Ups Conspiracies Against Governor Ugwuanyi in Enugu North Senatorial ZoneUgwuanyi

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  • Rufai Oseni Breaks Down on Live TV Over Nigeria’s Economic Decline
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