ADVERTISEMENT
Apples Bite Int'l Magazine
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    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

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

    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

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
  • News Bite
    • All
    • Arts
    • Events
    • International
    • National
    • Politics
    • Press Release
    • Security
    • Show Biz
    • Sports
    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

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

    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

    • Politics
    • International
    • National
    • Show Biz
    • Events
    • Security
    • Sports
    • Press Release
  • Lifestyle Bite
    • Fitness
    • Nutrition
    • Personal Growth
    • Travel
  • Health Bite
    • Doctor’s Diagnosis
  • Brand & Business Bite
    • Energy
  • Fashion Bite
  • Opinion Bite
    • Featured Story
    • Fiction & Poetry
    • Career
    • Teachings
    • ABM Staff Blog
    • ABM True Stories
    • Research
    • Tech
  • More
    • Latest Magazine Issue
    • Leadership 360°
    • Religion
    • Education
    • Law
    • Metro
    • Romance
      • Love
      • Sex and Relationship
      • ABM TV
      • Interviews
      • Movies
      • Red Carpets
  • Contact Us
No Result
View All Result
Apples Bite Int'l Magazine
No Result
View All Result
Adron Homes Lemon Friday
Home News Bite

IG Warns Against Unlawful Arrest, Prolonged Detention

Madukwe Nwabuisi by Madukwe Nwabuisi
March 24, 2025
in News Bite
Reading Time: 2 mins read
0
IG Warns Against Unlawful Arrest, Prolonged Detention

Kayode Egbetokun

0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

The Inspector-General of Police, Kayode Egbetokun, has warned officers of the Nigeria Police Force against the unlawful and prolonged detention of suspects.

The IG stressed that suspects must not be detained beyond legally stipulated periods and warned that any officer found culpable of such violations would face strict disciplinary measures.

Egbetokun noted that unlawful detentions erode public trust and confidence in the police force, urging officers to conduct their duties with professionalism, integrity, and respect for human rights.

RelatedPosts

Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

Supreme Court Orders Final Forfeiture of Emefiele’s Assets to Federal Government

July 17, 2026
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

July 17, 2026
Rufai Oseni Breaks Down on Live TV Over Nigeria’s Economic Decline

Rufai Oseni Breaks Down on Live TV Over Nigeria’s Economic Decline

July 17, 2026

In a statement on Sunday by the Force spokesman, Muyiwa Adejobi, the IG emphasised the need for strict adherence to constitutionally guaranteed rights, particularly Sections 34 and 35 of the Nigerian Constitution, which uphold human dignity and personal liberty.

He said, “The Inspector-General of Police, Kayode Egbetokun, has issued a stern reminder to all members of the Nigeria Police Force regarding the importance of respecting the fundamental rights in the context of pre-trial detentions.

“The IGP emphasised that adherence to legally stipulated detention periods is not only a legal obligation but also a fundamental aspect of upholding the dignity and rights of individuals, as enshrined in Sections 34 and 35 of the Constitution of the Federal Republic of Nigeria, which guarantees the right to dignity and personal liberty.

“The IG cautions against any practices that may lead to unlawful or prolonged detentions, which can undermine public trust and confidence in the police, reiterating that any officer found violating these principles will face serious consequences. Calling for a culture of accountability within the Force, the IGP thereby encourage officers to uphold the highest standards of conduct in their interactions with the public.”

Adejobi reaffirmed the commitment of the current police leadership to upholding human rights while ensuring law and order.

“The Nigeria Police Force is committed to ensuring that all individuals in custody are treated with respect and in accordance with the law. The commitment of the current police leadership to human rights reflects a broader vision of a police force that is not only effective in maintaining law and order but also dedicated to protecting the rights and dignity of all individuals,” he 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.

Tags: EgbetokunIG

Related Posts

Tinubu Wanted Young Female Deputy Governor, Says Hamzat
Politics

Tinubu Wanted Young Female Deputy Governor, Says Hamzat

July 17, 2026
Bode George Blames Excessive Land Reclamation for Lagos Flooding
News Bite

Bode George Blames Excessive Land Reclamation for Lagos Flooding

July 17, 2026
FG to Publish Poverty, Income Data to Measure Impact of Economic Reforms – Oyedele
News Bite

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

July 17, 2026
Barcelona Reveals Story Behind Messi’s Iconic Photo With Baby Lamine Yamal
Sports

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

July 17, 2026
FG Renames Lagos-Calabar Coastal Highway in Honour of Tinubu
News Bite

FG Renames Lagos-Calabar Coastal Highway in Honour of Tinubu

July 17, 2026
NLC Moves To End NURTW Crisis As MC Oluomo, Baruwa Agree To Peace Talks
News Bite

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

July 17, 2026
Load More
No Result
View All Result

Recent Posts

  • 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

Recent Comments

    Apples Bite Int'l Magazine

    Apples Bite Magazine is your premier destination for updates in business, daily news, and entertainment. At Apples Bite, we serve insightful stories and in-depth analysis, curated to empower professionals, entrepreneurs, and forward-thinking individuals who thrive on staying ahead of the curve.

    © 2026. All Rights Reserved. ApplesBite International Magazine.

    No Result
    View All Result
    • News Bite
      • Politics
      • International
      • National
      • Show Biz
      • Events
      • Security
      • Sports
      • Press Release
    • Lifestyle Bite
      • Fitness
      • Nutrition
      • Personal Growth
      • Travel
    • Health Bite
      • Doctor’s Diagnosis
    • Brand & Business Bite
      • Energy
    • Fashion Bite
    • Opinion Bite
      • Featured Story
      • Fiction & Poetry
      • Career
      • Teachings
      • ABM Staff Blog
      • ABM True Stories
      • Research
      • Tech
    • More
      • Latest Magazine Issue
      • Leadership 360°
      • Religion
      • Education
      • Law
      • Metro
      • Romance
        • Love
        • Sex and Relationship
        • ABM TV
        • Interviews
        • Movies
        • Red Carpets
    • Contact Us

    © 2026. All Rights Reserved. ApplesBite International Magazine.