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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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Madagascar is not a movie, and Marie Kolo is making that clear

Bird Story Agency by Bird Story Agency
December 9, 2023
in Entertainment, News Bite
Reading Time: 4 mins read
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Madagascar is not a movie, and Marie Kolo is making that clear

Madagascar is not a movie, and Marie Kolo is making that clear

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Madagascar, known to many through the celluloid fantasies of Hollywood, finds an authentic voice in Marie Kolo.

“Our national anthem is not, I like to move it,” declared Marie Kolo, her words echoing a deep-seated desire to uplift the true image of her country, a far cry from the animated jungles and dancing lemurs of Hollywood’s creation.

In the island nation, Kolo’s name has become emblematic of climate activism, social entrepreneurship, and ecofeminism. Her fight for years now has been for the identity of Madagascar and its people as part of the diverse and rich tapestry of Africa.

Madagascar is not a movie, and Marie Kolo is making that clear
[/media-credit] Madagascar is not a movie, and Marie Kolo is making that clear

“When I talk about my country, some people don’t even know where it is,” she lamented. “They ask if Madagascar is an island, or if it’s even a real country.”

Kolo also challenges the narrative of what it means to be African, confronting stereotypes and ignorance surrounding the continent’s island states.

“What it is to be African, actually, because I’m very proud to be a part of the continent,” she said of one of her key challenges.

“But we African island states, we’re not even on the map. When you see the the African map, I’m sure that most people don’t know where is Cape Verde, where is Mauritius, Seychelles, etc. so we are kind of isolated. So I’ve been participating in discussing this since COP21. And I’m trying to advocate for not only my population, and the local communities, but also for other African island states.”

Included on BBC’s top 100 inspiring and influential women in 2022, her journey into activism began in her childhood, spurred on by a direct encounter with environmental degradation in her once-pristine neighbourhood.

“My journey into climate activism,” she reflected, “began when I was just eight years old.”

She recounts how a factory’s arrival in a neighbourhood surrounded by forests and rivers sparked her first environmental protest. It polluted the local river, changing its colours and alarming the young Kolo.

Miffed by inaction from local authorities, she vowed to do something. With the support of her parents and younger sister, she organised a protest and petition that successfully halted the factory’s harmful practices. This early victory sowed the seeds of a lifelong commitment to environmental advocacy.

“My voice is exhausted,” Kolo admitted, reflecting on her relentless advocacy at COP28. “I think I lost my voice because of frustration.”

This frustration stems from Madagascar’s struggle for visibility and recognition in international climate negotiations.

Despite being among the 10 nations most vulnerable to climate change, Madagascar often remains overlooked, with most people only referencing it to animation film.

But Kolo’s dedication to her cause eventually led to a pivotal moment at COP25 in Madrid, a conference dedicated to oceanic issues, crucial for island nations like Madagascar.

Despite the thematic focus, her country’s delegation had no pavilion and was relegated to sitting on the floor during meetings. This physical manifestation of invisibility in global discussions deeply affected her.

The situation escalated when she confronted her country’s Minister of Environment about the lack of visibility and participation of civil society in these crucial discussions. The encounter was tense and charged with emotion.

“He was violent,” Kolo recalled. “He grabbed my hand, shouted at me, and tried to put me on the floor in front of everyone.”

This public humiliation, instead of silencing her, only fuelled her resolve. In response, she wrote an open letter to the President of Madagascar, voicing her frustrations and the need for meaningful participation of youth and civil society in climate dialogues.

This bold move had a significant impact, leading to the resignation of the minister and the establishment of a new directorate within the ministry to engage with youth and feminist organisations on climate negotiations.

Today, Kolo’s work is multifaceted, addressing climate justice and gender equity on various fronts and thanks in part to her activism, Madagascar has for the first time a pavilion at this COP28.

She currently serves as the Indian Ocean Regional Director of the NGO, People Power Inclusion, focusing on economic inclusion through the green and blue economies.

Her social business, Green N Kool, is now a leading outfit in the circular economy and spearheads the national platform on Gender and Climate Justice.

As a co-founder of the Indian Ocean Climate Network and the Aika movement, Kolo empowers youth CSOs working on climate and biodiversity issues. Her personal experiences as a survivor of violence led her to establish “Women Break the Silence,” a national movement fighting against rape culture.

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Her tireless work in climate justice and gender equity has garnered numerous accolades, including the Martine Anstett International Prize for Human Rights and the Brote Activismo Medioambiental from FICMEC among others.

Kolo has been instrumental in promoting economic inclusion through green and blue economy initiatives and Green N Kool is just one of the tools she uses to drive sustainable development and the circular economy.

At the same time, Kolo works tirelessly to amply the voices of women, especially in her homeland where it is still stifled.

“In my country, we say that a woman is a ‘Fanaka Malemy’. It means ‘weak furniture’. We’re not even an animal, we are less than animals, we are ‘weak and fragile furniture’. But I am not weak at all, come on,” she proclaimed.

Seth Onyango, bird story agency

bird story agency image
Bird Story Agency

Bird Story Agency is a specialist news agency driven by the resolve to project Africa by telling positive stories about the continent.

Tags: Madagascar is not a movieMadagascar is not a movie and Marie Kolo is making that clear

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