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    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

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    Tinubu Wanted Young Female Deputy Governor, Says Hamzat

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    Bode George Blames Excessive Land Reclamation for Lagos Flooding

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Eight Amazing things you didn’t know about Erelu Okin

Seunmanuel Faleye by Seunmanuel Faleye
August 17, 2022 - Updated on August 14, 2024
in Featured Story, Lifestyle Bite, News Bite, Opinion Bite
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If you assumed you already knew everything about Dr. Pearl Chidinma Ogbulu, Erelu Okin of Orile Kemta, Ogun State, we bet you didn’t know this about her.

Until recently, when she became public knowledge for the ‘Petrol Souvenir’ frenzy, Erelu Okin had lived a private life devoid of air.

[media-credit id=10 width=243 align=”none”][/media-credit]

To commemorate August 17, the birthday of Erelu Petrol, as she’s fondly called, Apples Bite Magazine has made a list of eight facts that would live you astonished about her.

Ex-negotiator Denies Release Of Remaining Kaduna Train Attack Victims, Says Those Still In Captivity Are In Bad Condition

1. Although, she holds the highly respected chieftaincy title in Yorubaland, as Erelu Okin, she is actually born to a father from Abia State South-East, and a mother from Akwa Ibom, South-South of Nigeria.

2. Erelu Okin is a polyglot. She speaks seven languages fluently. French inclusive.

3. She holds a PHD in Petroleum Management and Fashion Development from European American University, Republic of Panama.

4. She is an alumni of the prestigious Harvard University, Cambridge Massachusetts.

5. She is the only daughter of her parents.

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6. She is happily married and has a beautiful daughter named Jasmine.

7. Erelu Okin Foundation, her humanitarian outreach has reached out to no fewer than 1000 children, both in and out of school. She provided school kids with learning kits and enrolled Out-of-school children back in school.

8. When she is not working, Erelu Okin enjoys traveling and recreation.

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.

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