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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

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    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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FG Begins Implementation of Bachelor’s Degree Programmes in 15 Education Colleges

Madukwe Nwabuisi by Madukwe Nwabuisi
June 25, 2025
in Education
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FG Begins Implementation of Bachelor’s Degree Programmes in 15 Education Colleges
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The Federal Government has officially commenced the concurrent implementation of bachelor’s degree programmes across 15 approved Federal Colleges of Education in Nigeria.

This move follows President Bola Tinubu’s recent assent to the legislation empowering Federal Colleges of Education to award both the Nigeria Certificate in Education and Bachelor’s degrees in education.

Speaking at a one-day sensitisation programme on ministerial deliverables and the education sector roadmap, the Permanent Secretary of the Federal Ministry of Education, Abel Enitan, announced the development.

Enitan, represented by the Director of Educational Planning, Julie Uzor, noted that the dual certification model was aimed at revitalising teacher education and addressing dwindling enrollment.

“This policy allows colleges of education to concurrently award the NCE and Bachelor’s degrees in Education.

“As outlined in the Federal Colleges of Education Act, 2023, this dual mode enhances access, improves quality, and modernizes teacher training,” he said.

He added that the Federal Government had also approved the establishment of more colleges to increase access and enrolment opportunities.

Olumuyiwa further revealed that a review of the NCE Minimum Standards was underway “to ensure the programmes meet current educational needs and maintain high standards.”

The Executive Secretary of the National Commission for Colleges of Education, Prof Paulinus Okwelle, also confirmed the rollout, assuring that the commission was intensifying monitoring and evaluation efforts to support effective implementation.

“The dual mode is at the implementation stage, and preparations are in full gear.

“As advertised by JAMB, admissions under the dual mode will begin in the 2025–2026 academic session. Students will now be admitted for both NCE and bachelor’s degree programmes,” Okwelle told journalists.

He noted that the amendment to the Federal Colleges of Education Act in 2023 laid the legal foundation for the dual mode, allowing colleges to begin full implementation.

He expressed confidence that the approach would boost enrolment and improve the quality of teacher training.

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“With proper pedagogical and content training, our teachers will be better equipped to manage modern classroom challenges,” he added.

On the welfare of lecturers, Okwelle said the government was making efforts to enhance staff motivation through various initiatives, backed by the Federal Ministry of Education and the minister’s office under President Tinubu’s directive.

The Director of Colleges of Education at the Federal Ministry of Education, Dr Uche Uba, described the rollout as a welcome development.

She confirmed that the 15 approved federal colleges were already engaging with the National Universities Commission to ensure a smooth transition.

“There is a clear implementation guideline in place. The colleges are liaising with the NUC, and all are following the set conditions to make the process seamless,” she said.

Madukwe B. Nwabuisi
Madukwe Nwabuisi

Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.

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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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