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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.

    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

    Tinubu Wanted Young Female Deputy Governor, Says Hamzat

    Tinubu Wanted Young Female Deputy Governor, Says Hamzat

    Bode George Blames Excessive Land Reclamation for Lagos Flooding

    Bode George Blames Excessive Land Reclamation for Lagos Flooding

    FG to Publish Poverty, Income Data to Measure Impact of Economic Reforms – Oyedele

    FG to Publish Poverty, Income Data to Measure Impact of Economic Reforms – Oyedele

    Barcelona Reveals Story Behind Messi’s Iconic Photo With Baby Lamine Yamal

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    FG Renames Lagos-Calabar Coastal Highway in Honour of Tinubu

    FG Renames Lagos-Calabar Coastal Highway in Honour of Tinubu

    NLC Moves To End NURTW Crisis As MC Oluomo, Baruwa Agree To Peace Talks

    NLC Moves To End NURTW Crisis As MC Oluomo, Baruwa Agree To Peace Talks

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Bishop Isaac Idahosa’s God First Ministries Celebrates 35 Years of God’s Faithfulness

Seunmanuel Faleye by Seunmanuel Faleye
August 25, 2024 - Updated on November 9, 2024
in Metro
Reading Time: 2 mins read
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H.E. Abba Kabir Yusuf, Dr. Stanley Uzochukwu, H.E. Sen. Dr. Rabiu Musa Kwankwaso, Others to Grace H.E. Archbishop Designate Isaac Idahosa’s 60th Birthday Celebration

H.E. Abba Kabir Yusuf, Dr. Stanley Uzochukwu, H.E. Sen. Dr. Rabiu Musa Kwankwaso, Others to Grace H.E. Archbishop Designate Isaac Idahosa’s 60th Birthday Celebration

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For 35 years, God First Ministries has stood as a testament to unwavering faith, resilience, and dedication to transforming lives. As the church marks this significant anniversary, it’s more than just a celebration—it’s an acknowledgement of a journey that has profoundly impacted countless individuals and communities.

Archbishop Isaac Idahosa, the General Overseer of God First Ministries International, reflected on this journey with deep gratitude.

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“Thirty-five years ago, we set out on a mission fueled by divine calling. Today, we look back not with pride in our efforts, but with a profound sense of awe at what God has done through us,” Bishop Idahosa shared. “This is more than an anniversary; it’s a celebration of grace, perseverance, and the lives that have been touched.”

The path hasn’t always been easy. Archbishop Idahosa candidly spoke of the challenges the ministry has faced, describing the journey as one marked by trials and triumphs alike. “The road has been far from smooth, but each obstacle has only strengthened our resolve. We’ve weathered storms that could have easily derailed us, yet here we stand, stronger and more committed to our mission.”

The 35th-anniversary celebration is set to take place at the Illumination Assembly auditorium in Lekki, Lagos, on Sunday, August 25, 2024, at 4 pm. The event will bring together an esteemed gathering, including His Excellency Musa Rabiu Kwankwaso, former Governor and NNPP presidential hopeful; His Excellency Emmanuel Ibe Kachikwu, former Minister of State for Petroleum; and His Excellency Engr. Abba Kabir Yusuf, Governor of Kano State. The presence of these dignitaries, alongside celebrated men of God, underscores the significance of the occasion.

Since its inception on August 25, 1988, in Minna, Niger State, God First Ministries has grown under Bishop Idahosa’s leadership into a beacon of hope in Lagos. The church’s unwavering commitment to spreading the gospel and transforming lives is evident in its extensive charitable initiatives and community outreach. As it celebrates 35 years of service, God First Ministries remains dedicated to its mission of raising individuals of integrity, character, and excellence, continuing to shape lives and communities for the better.

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: Bishop Isaac IdahosaBishop Isaac Idahosa's God First Ministries Celebrates 35 Years of God's FaithfulnessGod First MinistriesIdahosa

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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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