ADVERTISEMENT
Apples Bite Int'l Magazine
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    Otunba Gbenga Daniel Unites Opposition At Wife's Mother's Burial

    Otunba Gbenga Daniel Unites Opposition At Wife’s Mother’s Burial

    Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

    Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

    Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

    Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

    Plateau Violence: 200 Killed in Five Months, Youth Coalition Says

    Plateau Violence: 200 Killed in Five Months, Youth Coalition Says

    Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

    Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

    Cyberattack Forces Delay of NBA 2026 Presidential Election

    Cyberattack Forces Delay of NBA 2026 Presidential Election

    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.

    Tinubu Signs Executive Order To Regulate Virtual Assets, Digital Economy

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

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

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    Otunba Gbenga Daniel Unites Opposition At Wife's Mother's Burial

    Otunba Gbenga Daniel Unites Opposition At Wife’s Mother’s Burial

    Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

    Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

    Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

    Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

    Plateau Violence: 200 Killed in Five Months, Youth Coalition Says

    Plateau Violence: 200 Killed in Five Months, Youth Coalition Says

    Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

    Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

    Cyberattack Forces Delay of NBA 2026 Presidential Election

    Cyberattack Forces Delay of NBA 2026 Presidential Election

    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.

    Tinubu Signs Executive Order To Regulate Virtual Assets, Digital Economy

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

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

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
Apples Bite Int'l Magazine
No Result
View All Result
Adron Homes Lemon Friday
Home News Bite

Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence

Contributor by Contributor
July 15, 2026
in News Bite
Reading Time: 2 mins read
0
Akpabio: Senate Won’t Create Conflict With Tinubu to Prove Independence
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

Senate President Godswill Akpabio has defended the cordial relationship between the National Assembly and President Bola Tinubu, insisting that cooperation between both arms of government is in line with constitutional responsibilities and should not be mistaken for a loss of legislative independence.

Speaking on Tuesday while declaring the 2026 National Assembly Open Week open in Abuja, Akpabio said the legislature would continue to work with the executive whenever it serves Nigeria’s national interest, stressing that lawmakers have no obligation to manufacture disagreements to demonstrate autonomy.

He described the National Assembly as an institution that belongs to the Nigerian people, noting that democracy thrives when citizens actively engage in governance through participation, accountability and constructive criticism.

RelatedPosts

Otunba Gbenga Daniel Unites Opposition At Wife's Mother's Burial

Otunba Gbenga Daniel Unites Opposition At Wife’s Mother’s Burial

July 18, 2026
Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke

July 18, 2026
Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation

July 18, 2026

According to him, parliament should remain transparent, accessible and responsive to the people it represents.

Akpabio encouraged Nigerians to attend public hearings, monitor legislative activities and hold elected representatives accountable, saying such engagement strengthens democratic institutions.

He maintained that the legislature welcomes criticism aimed at improving governance, adding that a parliament that listens to the people becomes more effective.

Highlighting the achievements of the 10th National Assembly, the Senate President said lawmakers have passed more than 100 bills within their first three years in office, describing the feat as unprecedented at this stage of Nigeria’s democratic journey.

He said the Assembly had enacted legislation to improve national security, expand access to education by addressing the out-of-school children crisis, reform the tax system, approve a new national minimum wage, promote investment and establish regional development commissions.

Akpabio also noted that the National Assembly has fulfilled its constitutional responsibility by screening and confirming key public office holders, while adding that Nigeria recently regained a seat on the Executive Committee of the Inter-Parliamentary Union after nearly six decades.

Defending the legislature’s relationship with the presidency, he said cooperation should not be interpreted as constitutional surrender.

According to him, the National Assembly supports policies that advance the national interest, scrutinises government actions where necessary and pushes for improvements when required.

He further praised the working relationship between the Senate and the House of Representatives, describing the collaboration between both chambers over the past three years as one built on mutual respect and shared commitment to national development.

Akpabio expressed optimism that the National Assembly Open Week would deepen public confidence in the legislature, improve transparency and strengthen citizens’ participation in the legislative process.

READ ALSO:

  • Otunba Gbenga Daniel Unites Opposition At Wife’s Mother’s Burial
  • Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke
  • Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation
  • Plateau Violence: 200 Killed in Five Months, Youth Coalition Says
  • Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa
Apples Bite Magazine Icon
Contributor
Tags: AkpabioTinubu

Related Posts

Plateau Violence: 200 Killed in Five Months, Youth Coalition Says
News Bite

Plateau Violence: 200 Killed in Five Months, Youth Coalition Says

July 18, 2026
Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa
National

Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

July 18, 2026
Cyberattack Forces Delay of NBA 2026 Presidential Election
Law

Cyberattack Forces Delay of NBA 2026 Presidential Election

July 18, 2026
Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government
News Bite

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

July 17, 2026
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.
News Bite

Tinubu Signs Executive Order To Regulate Virtual Assets, Digital Economy

July 17, 2026
Rufai Oseni Breaks Down on Live TV Over Nigeria’s Economic Decline
News Bite

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

July 17, 2026
Load More
No Result
View All Result

Recent Posts

  • Otunba Gbenga Daniel Unites Opposition At Wife’s Mother’s Burial
  • Trump Threatens Higher Tariffs on Canada Over Wildfire Smoke
  • Tinubu Hails Wike’s Impact, Says Abuja Has Improved 50 Years After FCT Creation
  • Plateau Violence: 200 Killed in Five Months, Youth Coalition Says
  • Nigeria, Ghana Push AU Action Against Rising Afrophobia in Africa

Recent Comments

    Apples Bite Int'l Magazine

    Apples Bite Magazine is your premier destination for updates in business, daily news, and entertainment. At Apples Bite, we serve insightful stories and in-depth analysis, curated to empower professionals, entrepreneurs, and forward-thinking individuals who thrive on staying ahead of the curve.

    © 2026. All Rights Reserved. ApplesBite International Magazine.

    No Result
    View All Result
    • News Bite
      • Politics
      • International
      • National
      • Show Biz
      • Events
      • Security
      • Sports
      • Press Release
    • Lifestyle Bite
      • Fitness
      • Nutrition
      • Personal Growth
      • Travel
    • Health Bite
      • Doctor’s Diagnosis
    • Brand & Business Bite
      • Energy
    • Fashion Bite
    • Opinion Bite
      • Featured Story
      • Fiction & Poetry
      • Career
      • Teachings
      • ABM Staff Blog
      • ABM True Stories
      • Research
      • Tech
    • More
      • Latest Magazine Issue
      • Leadership 360°
      • Religion
      • Education
      • Law
      • Metro
      • Romance
        • Love
        • Sex and Relationship
        • ABM TV
        • Interviews
        • Movies
        • Red Carpets
    • Contact Us

    © 2026. All Rights Reserved. ApplesBite International Magazine.