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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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Antonio Conte Says McTominay Couldn’t Thrive At MUFC Because He Wasn’t Given A Main Role, Hails His Growth As A Footballer

admin by admin
May 3, 2025
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Scott McTominay and Antonio Conte

Scott McTominay and Antonio Conte

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Napoli manager, Antonio Conte has shared why Scott McTominay is thriving with Napoli after an underwhelming spell with Manchester United.

Speaking to reporters ahead of Napoli’s Serie A clash vs Lecce this weekend, Conte said that McTominay is shining better in Italy simply because he was never given a main role in England.

According to him, Scott was given a backup role at MUFC, with the main superstars constantly being at the forefront, and that went a long way towards limiting his skills and goal-scoring instincts for the club.

Conte revealed that McTominay is a more complete footballer at Napoli because he has been given the main role his style of football needs, and he certainly deserves the accolades he keeps getting for a job well done.

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“I think McTominay is stronger today than when he arrived from United. Here he has grown a lot. I think that he himself feels stronger, with more knowledge, that he is also reaching an important stage of his age to understand where to go in his career because up to now he has been in the middle, he has never had a main role at United that instead we have given him here, he has grown a lot by working, today he is complete.

But the improvement that he has had, everyone has had, otherwise it becomes difficult to explain why today we have 74 points,” he said.

After Khvicha Kvaratskhelia departed for Paris Saint-Germain in January, Napoli desperately needed someone to step up and fill the attacking void he left behind, and McTominay has more than made up for his absence. The ex-MUFC midfielder has scored 5 times in the last 3 games, and he currently has 11 Serie A goals in total.

Former Manchester United manager, Erik ten Hag was reportedly opposed to Scott’s sale to Napoli. Before the Scottish international left Old Trafford, the Dutch coach voiced out his disappointment over the decision to let such an asset walk out the door when he still had a key role to play in his team. Reports later revealed that the club’s fears over breaching the Premier League’s Profit and Sustainability Rules was the sole reason his sale had to be sanctioned.

Recall that ex-footballer, Gary Lineker, recently confessed that Napoli midfielder, Scott McTominay, is exactly what Manchester United has been missing amid their goalscoring struggles this season.

He is of the opinion that McTominay would’ve definitely suited Amorim’s system in the current MUFC set-up, and the fact that the club was forced to sell him because of the PSR rule makes his exit even more painful.

Blasting the ridiculous rule, Lineker maintained that the nonsensical regulation has definitely done more damage than good to football.

“Scott McTominay, scored two more goals, one of them a beauty, for Napoli at the beginning of the week. It’s remarkable how well some of the [former] United players are doing.

McTominay is exactly the player, I would say, that would work in an Amorim system. He’s what they need. And I know they were forced to sell him because of this PSR and he’s a local lad, which we all think is a nonsensical and a ridiculous feature of this particular rule,” he added.

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  • Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government
  • Tinubu Signs Executive Order To Regulate Virtual Assets, Digital Economy
  • Rufai Oseni Breaks Down on Live TV Over Nigeria’s Economic Decline
  • Tinubu Wanted Young Female Deputy Governor, Says Hamzat
  • Bode George Blames Excessive Land Reclamation for Lagos Flooding

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