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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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Governor Lawal Empowers Zamfara Dry Season Farmers with Fertilizers and Agricultural Inputs

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February 27, 2026
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In a decisive effort to enhance agricultural productivity and strengthen food security across Zamfara State, Governor Dauda Lawal has officially initiated the distribution of thousands of bags of fertilizers and other essential farming inputs aimed at supporting local farmers during the dry season.

The launch took place yesterday Thursday at the Fadama III facility of the Ministry of Agriculture in Gusau, which served as a symbolic venue for the Governor’s commitment to empowering local farmers and invigorating the agricultural sector an industry he described as the cornerstone of the state’s economy.

During the event, attendees witnessed the distribution of a comprehensive array of agricultural resources, comprising thousands of bags of fertilizers, herbicides, and insecticides. A statement from the Governor’s spokesperson, Sulaiman Bala Idris, outlined that this initiative is strategically designed to significantly boost crop yields, reduce post-harvest losses, and promote sustainable farming practices, particularly among smallholder farmers who play a critical role in the local economy.

The Comprehensive Support Package and farm inputs made available for distribution include:

-3,920 bags of NPK fertilizer: This balanced formulation is essential for promoting growth, enhancing root development, and improving overall crop yield.

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1,956 bags of Urea fertilizer: Known for its high nitrogen content, Urea will be pivotal in optimizing protein synthesis in crops, thereby increasing yields.

3,920 liters of herbicide: These will aid in controlling weeds, allowing crops to access essential nutrients and sunlight without competition.

1,956 liters of insecticide: These are crucial for protecting crops from pest infestations that could threaten harvests.

3,920 sachets of seed-dressing chemicals: These will enhance seed viability and encourage strong plant development from the onset.

In his address to the beneficiaries, Governor Lawal reiterated that this initiative represents a fundamental element of a broader strategy aimed at transforming the state’s agricultural landscape. “Farming is not just a livelihood; it is the backbone of our economy,” he stated with conviction. “We have a responsibility to provide our farmers with the tools and resources they need to flourish.” He emphasized that the distribution of fertilizers and farm inputs is particularly targeted toward enhancing dry-season farming throughout Zamfara State.

A significant aspect of the Governor’s address was the recognition of the NG-CARES (Nigeria COVID-19 Action Recovery and Economic Stimulus) programme, which he identified as a foundational pillar supporting these agricultural initiatives. He highlighted the success of similar input support programs over the years that have benefitted tens of thousands of smallholder farmers by providing them with improved seeds, agrochemicals, and crucial agronomic knowledge.

“Through the NG-CARES programs, we have laid the groundwork for achieving remarkable improvements in the agricultural sector,” Lawal explained. “Combining these inputs with behavioral enablers—such as seed adoption, advisory services, and peer learning—has markedly elevated crop yields, increased farmers’ incomes, and enhanced food security within our communities.”

Acknowledging the various challenges that farmers face in the region, particularly those posed by insecurity, Governor Lawal assured the agricultural community that his administration is committed to a holistic approach to development. “It’s widely recognized that today’s challenges are heavily intertwined with security issues,” he remarked. “While we equip farmers with necessary inputs, we are also focused on fortifying the security infrastructures within our communities to ensure sustainable agricultural practices.”

He called for a collaborative spirit between the government and the citizens, urging farmers to fully exploit the opportunity presented by this initiative while remaining vigilant. “We must unite to secure our surroundings, cultivate our lands, and harvest bountifully to foster a prosperous Zamfara State,” he urged.

The Governor positioned this initiative within the larger framework of national development, expressing optimism that it would deliver the momentum needed for sustainable agricultural growth, not just in Zamfara, but as a replicable model for other regions of Nigeria. He stressed the importance of increasing local food production to diminish Nigeria’s current heavy reliance on food imports.

“We remain dedicated to leveraging these programs to sustainably produce food and mitigate our reliance on imports,” Lawal asserted. “Our administration is committed to collaborating with our development partners and the Federal Government to ensure the effective implementation of these developmental strategies for the comprehensive advancement of our beloved state.”

At the conclusion of the event, beneficiaries expressed their optimism that the timely provision of these essential farm inputs would enable them to maximize their harvests during the dry season, thus generating critical income for their families and contributing significantly to the regional food supply chain.

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