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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

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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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Journalist Alleges Assault by Security Operatives at Kosofe Council Secretariat

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March 16, 2026
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A reporter with MITV, Habeeb Adejobi, has alleged that he was assaulted by security operatives while attempting to cover an official screening exercise at the Kosofe Local Government Secretariat in Lagos.

Adejobi said the incident occurred at about 4 p.m. on Wednesday, March 11, 2026, when he visited the council secretariat to report on the screening of newly appointed supervisors and special advisers.

According to the journalist, he received information from a senior colleague that the screening of the political appointees was underway and decided to cover the event as part of his professional duties.

“As a journalist, that is exactly the type of civic process we are expected to report on, so I headed to the secretariat,” he said.

Adejobi explained that upon arrival, he attempted to contact the Chairman of Kosofe Local Government, Moyosore Ogunlewe, and the council’s information officer to notify them of his presence, but was unable to reach either of them.

He said he later spoke with a councillor who confirmed that the screening was ongoing. Based on the confirmation, he remained within the premises and began preparing his camera in anticipation of interviewing councillors and some of the screened nominees after the exercise.

However, the situation reportedly changed shortly afterward.

“A man approached me and asked if I was the journalist. When I confirmed, he said the chairman had directed that I should leave the premises,” Adejobi said.

He noted that he tried to clarify the situation, explaining that he had already sent a message to the chairman informing him of his presence and requesting an opportunity to speak with him.

According to Adejobi, the chairman arrived shortly afterward and demanded to see his identification card.

“The first thing he asked for was my identification card. Unfortunately, I did not have it with me at that moment. Without further discussion, he instructed some people around him to seize my cameras,” he alleged.

Adejobi claimed that the confrontation soon escalated into physical violence.

“Right there in the presence of the chairman, the man who first approached me suddenly began to hit me,” he said.

“He struck me with a plank, and officers of the NSCDC attached to what they described as a ‘Special Task Force’ joined in. They punched and hit me from different directions.”

The journalist further alleged that he was ordered to delete photographs from his camera during the incident.

“I kept asking them whether it had become a crime to visit a public institution to cover an event,” he said.

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Adejobi said he was later taken away from the secretariat by a security official and transported to Area H Police Station, where his mobile phone was seized.

According to him, he was eventually brought before the Divisional Police Officer in the presence of the chairman’s Chief of Staff, Abiola Akinola.

He said the DPO later allowed him to leave the station after noticing his physical condition and advised him to seek medical attention.

“The pain in my body was unbearable throughout the night. By the following day, I had to visit a clinic where I received treatment,” he said, adding that his camera was also damaged during the incident.

Adejobi expressed surprise over the development, stating that he never expected such an incident to occur in the presence of the council chairman.

“What hurt me most was not just the beating. I never imagined that the chairman of Kosofe could act in such a manner,” he said.

“I know him to be an educated person and a lawyer, and also the son of a respected political leader in the state,” he added, referring to former minister Adeseye Ogunlewe.

Adejobi also dismissed claims questioning his professional identity.

“I was shocked to hear that I was described as a fake journalist. That claim is completely untrue. I have covered events at the Kosofe council before on behalf of MITV,” he said.

“Even more disturbing was the claim that I was an assassin sent by political enemies. An assassin with a camera?”

Meanwhile, some political observers and party members have linked the incident to what they described as a pattern of alleged violence involving individuals believed to be loyal to the council chairman.

One such case reportedly involved a party chieftain, Kehinde Saka, who was allegedly attacked at the APC Secretariat in ACME shortly after a ward congress.

In another reported incident, two party members identified as Kemac and Oluaye were allegedly assaulted during a local government meeting in Ojota.

Residents in the Ojota area also recalled an incident involving a trader popularly known as Iya Niyi, whose shop was allegedly invaded by armed men who reportedly fired shots during the attack.

However, the Kosofe council chairman has denied the allegations.

In a response circulating online, Ogunlewe said the journalist was questioned because he could not provide identification to confirm his professional status.

“I saw a man setting up a camera on the premises and asked where he was from. He said he came from a television station but had no identification card to prove he was a genuine journalist,” Ogunlewe said.

“We took him to Ogudu Police Station to give a statement after he was unable to produce any identification.”

The incident has since generated reactions among journalists and political observers, raising concerns about press freedom and the safety of media practitioners while carrying out their duties.

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  • 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
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