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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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How GMO Foods Are Reshaping Nigeria’s Dinner Tables – At What Cost?

Seunmanuel Faleye by Seunmanuel Faleye
August 7, 2025
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Amara Okafor never thought much about the maize flour she bought from the bustling Aba market until her daughter developed persistent skin rashes last year. Like millions of Nigerian mothers, she assumed the familiar yellow powder was the same traditional crop her grandmother had grown in Anambra State for decades. What she didn’t know was that her family’s staple food had quietly undergone a genetic transformation that would have been unimaginable just a generation ago.

Across Nigeria and much of Africa, a silent agricultural revolution is underway. Genetically Modified Organisms (GMOs) have not just arrived – they have penetrated the continent’s food systems with surprising speed and minimal public awareness. The implications for health, culture, and food sovereignty are proving far more complex than government assurances suggest.

The Quiet Invasion

Nigeria’s love affair with GMO crops began almost unnoticed. Since 2024, the country has officially approved two GMO crops for commercial release – genetically modified maize and cowpea – with 33 additional crops currently undergoing trials. This represents one of the most aggressive GMO adoption programs in Africa, driven by promises of increased yields and food security.

But the reality on Nigerian markets tells a different story. Recent studies examining food products in Nigerian shops found that genetically modified ingredients are already widespread, often without proper labeling. Out of food samples tested, nearly 70% contained GMO signatures, yet only a tiny fraction carried the required GMO labels that would allow consumers to make informed choices.

“What we’re seeing is a form of food colonialism,” argues Dr. Chinedu Akwanya, a nutritionist at the University of Lagos. “Foreign corporations are essentially deciding what Africans eat, often without our full knowledge or consent.”

The Health Reckoning

Perhaps most concerning are the mounting health concerns emerging from communities where GMO foods have become prevalent. While regulatory bodies like Nigeria’s National Biotechnology Management Agency (NBMA) maintain that approved GMO crops meet international safety standards, a growing body of evidence suggests the health impact may be more serious than initially acknowledged.

Studies involving Nigerian consumers reveal alarming perceptions about GMO foods’ health effects. Research indicates that 67.46% of respondents believe GMO foods are harmful to human health, with 51.98% linking these foods to increased allergic reactions. These aren’t just unfounded fears – families across Nigeria are reporting mysterious health issues that seem to coincide with dietary changes.

In Kano State, farmers who began growing GMO cowpeas report unusual patterns of illness among their families. Digestive problems, skin conditions, and unexplained fatigue have become common complaints. While direct causation remains difficult to prove, the correlation is troubling enough that some communities are beginning to reject GMO crops entirely.

“We are essentially conducting a massive, uncontrolled experiment on African populations,” warns Dr. Nnimmo Bassey, Executive Director of the Health of Mother Earth Foundation. “The long-term health consequences are unknown, yet we’re rushing ahead based on promises rather than proof.”

Beyond Individual Health: A Cultural Crisis

The penetration of GMO foods into African markets represents more than just a health issue – it’s a profound cultural disruption. Traditional African agriculture has always been built on biodiversity, with communities maintaining dozens of crop varieties adapted to local conditions and cultural preferences.

GMO crops threaten this heritage by marginalizing local varieties and traditional knowledge systems. In Nigeria, indigenous maize varieties that have been cultivated for centuries are being displaced by genetically uniform GMO varieties. This agricultural homogenization represents not just a loss of biodiversity, but a loss of cultural identity and food sovereignty.

Traditional farming communities in Benue State, known as Nigeria’s “Food Basket,” describe watching their ancestral seed varieties disappear as GMO crops dominate the market. “Our forefathers knew these plants intimately,” says Mallam Ibrahim Yakubu, a veteran farmer. “Now we depend on seeds we don’t understand, made by companies we’ve never met.”

The Economics of Dependence

The economic implications of GMO penetration extend far beyond individual health costs. Unlike traditional crops, GMO seeds often come with licensing restrictions that prevent farmers from saving seeds for the next season – a practice that has sustained African agriculture for millennia.

This creates a cycle of dependence where farmers must continually purchase new seeds from multinational corporations, essentially transforming food production from a self-sustaining system into a profit-generating enterprise for foreign companies. The long-term economic burden on African farmers could be catastrophic.

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Current data suggests Nigerian farmers are already spending significantly more on GMO seeds and associated chemicals than they ever did on traditional varieties. While yields may initially increase, the total cost of production often remains higher, trapping farmers in cycles of debt.

Regulatory Failures and Consumer Rights

Perhaps most troubling is the failure of regulatory systems to adequately protect consumer rights. Despite laws requiring GMO labeling, the vast majority of GMO-containing products in Nigerian markets carry no identification, denying consumers the basic right to know what they’re eating.

The regulatory approval process itself raises questions about independence and thoroughness. Critics argue that Nigeria’s regulatory bodies rely too heavily on safety data provided by the same corporations that profit from GMO sales, creating inherent conflicts of interest.

“How can we trust safety assessments conducted by companies that stand to make billions from these products?” asks Dr. Patience Koku, a public health researcher at Ahmadu Bello University. “Independent, long-term health studies are virtually non-existent.”

The Path Forward

The GMO debate in Nigeria and across Africa is reaching a critical juncture. While proponents argue that genetically modified crops are necessary to feed a growing population, critics contend that the rush toward GMO adoption ignores safer, more sustainable alternatives.

Agroecological approaches that focus on improving traditional farming methods, promoting crop diversity, and supporting local food systems offer promising alternatives. Countries like Ethiopia and Mali have shown that significant yield improvements are possible without resorting to genetic modification.

The choice facing Nigeria and other African nations is fundamental: accept a food system increasingly controlled by foreign corporations and unproven technologies, or invest in sustainable, locally-controlled agricultural development that preserves both health and cultural heritage.

A Call for Transparency

As GMO foods continue their silent penetration of African markets, the need for transparency, independent research, and genuine public participation in food policy decisions has never been more urgent. The health of current and future generations may well depend on the choices made today.

For families like the Okafors, the immediate concern remains simple: the right to know what they’re feeding their children and the assurance that their government is prioritizing public health over corporate interests. In a continent already burdened by numerous health challenges, the additional risk posed by inadequately tested GMO foods may be a burden too heavy to bear.

The silent revolution in Africa’s food systems is no longer silent. It’s time for a public conversation about the true cost of this genetic gamble – before it’s too late to change course.


The debate over GMO foods in Africa continues to evolve as more research emerges and communities grapple with balancing food security needs against health and cultural concerns. What remains clear is that transparent, independent evaluation and genuine public participation in these decisions are essential for the continent’s future.

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: Genetically Modified Organisms

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