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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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ISRAEL-HAMAS WAR: US, UK, Germany Urge Citizens To Leave Lebanon

Madukwe Nwabuisi by Madukwe Nwabuisi
October 20, 2023
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Washington, London and Berlin have advised their citizens to leave Lebanon as border tensions between Israel and Hezbollah intensify over Israel’s war with Hamas.

“We recommend that United States citizens in Lebanon make appropriate arrangements to leave the country; commercial options currently remain available,” a statement from the US embassy in Beirut said, with a similar warning issued by the British.

“If you are currently in Lebanon, we encourage you to leave now while commercial options remain available,” the British embassy said, urging its nationals to “exercise caution.”

According to reports on Thursday, Germany’s foreign office also asked citizens to “leave Lebanon” in a statement warning that border clashes “can escalate further at any time” and advising its nationals to “use existing commercial travel options to leave the country safely.”

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

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Hezbollah and allied Palestinian factions have been trading daily cross-border fire with Israel after Hamas launched a massive October 7 assault on southern Israel, killing more than 1,400 people, mostly civilians.

Relentless Israeli strikes on Gaza have since killed at least 3,700 people, mostly civilians, the Hamas-run health ministry says. France, Canada, Australia and Spain have also warned against travel to Lebanon.

At least 21 people have been killed by cross-border fire in Lebanon, according to an AFP tally, mostly combatants but also three civilians including a Reuters journalist. At least three people have been killed on the Israeli side.

US warns overseas citizens
The State Department on Thursday issued a rare “worldwide caution” advisory for US citizens everywhere, citing terrorism and the potential for anti-American demonstrations.

The alert said US citizens should be aware of “increased tensions in various locations around the world.”

This includes “potential for terrorist attacks, demonstrations or violent actions against US citizens and interests.”

Israel recalls Turkey diplomats
Israel has recalled its diplomats from Turkey as a security precaution, a source close to the dossier told AFP Thursday, having already advised citizens to leave.

“It’s a temporary measure, which should be for the short term,” said the source, who refused to be quoted by name.

Israel’s National Security Council late on Tuesday called on all Israelis in Turkey to leave “as soon as possible”.

On Wednesday, its consulate in Istanbul said it was for their own safety given the growing “terrorist threats” against Israelis abroad. The alert level had been raised to four, the highest level, a consular spokesperson told AFP.

China insists ceasefire
A two-state solution to establish an independent Palestine is the “fundamental way out” of the Israel-Hamas conflict, Chinese leader Xi Jinping said on Thursday in his first public comments on the war since it broke out nearly two weeks ago.

“The top priority now is a ceasefire as soon as possible, to avoid the conflict from expanding or even spiralling out of control and causing a serious humanitarian crisis,” Xi was quoted as saying by China’s state broadcaster CCTV.

Xi, who made the comments in a meeting with Egyptian Prime Minister Mostafa Madbouly in Beijing, said China was willing to work with Egypt and Arab nations to “promote a comprehensive, just and lasting solution to the Palestinian issue,” according to CCTV.

UN chief calls for aid
United Nations Secretary-General Antonio Guterres urged “rapid, unimpeded humanitarian access” to the besieged Gaza Strip on Thursday, as Israel kept up its retaliation.

“We need food, water, medicine and fuel now. We need it at scale and we need it to be sustained, it is not one small operation that is required,” Guterres said in Cairo, as calls mounted for aid to reach the territory’s 2.4 million people.

“In plain terms, that means humanitarians need to be able to get aid in and they need to be able to distribute it safely.”

UN humanitarian chief Martin Griffiths estimated that about 100 trucks per day were needed to meet the needs in Gaza.

In a joint press conference with Egyptian foreign minister Sameh Shoukry, Guterres called for an “immediate humanitarian ceasefire”.

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: IsraelWar

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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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