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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.

    Tinubu Signs Executive Order To Regulate Virtual Assets, Digital Economy

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    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

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Home 2023 Polls

OGD ‘s long walk in APC: An eyewitness account Series 2

Seunmanuel Faleye by Seunmanuel Faleye
April 3, 2023
in 2023 Polls, Featured Story, Opinion Bite
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OGD’s long walk in APC: An eyewitness account SERIES 2

In this series, we lay bare how an ungrateful governor began schemes to permanently incapacitate his benefactor right from his first day in office. 

Read and digest. 

Politics of exclusion and disempowerment 

It appears Governor Dapo Abiodun did not really appreciate the OGD political family’s support, which he got without conditions. His actions and inactions since assuming power indicate so. 

OGD’s long walk in APC: An eyewitness account

When OGD declared for the APC, he did so with thousands of leaders and followers who looked up to him to be their torchbearer in their newly formed political abode. These people had hopes and aspirations to participate in the APC government. But instead of warm assimilation, we have witnessed the gradual push away from the periphery of relevance. 

Or how else does one explain that during the reconstitution of the state party structure, the OGD group leader was never asked for input? The governor and his political henchmen unilaterally appointed party operatives in all the 236 wards in the state, not to mention local government or state executives! The OGD group took it lightly. 

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Again, in the fielding of candidates for the local government elections, not once was the OGD group considered for election as the party’s candidate in any of the 20 local governments and 236 wards. 

Similarly, in forming the state cabinet, the OGD group leader was never consulted for advice or nomination.

In the last four years, the government has embarked on construction or maintenance projects in schools, health facilities, and roads. Not once was the OGD group called upon to nominate supervisors for these projects to ensure maximum benefits for the people. Contracting revolves around a cabal in government, to the exclusion of the majority of party faithful who toil day and night to sustain the party. 

This is not to suggest that the OGD group is vexed by those that emerge as party executives or elected officials. But in politics, there is no bigger ‘red flag’ than a lack of consultation and inclusion in decision-making and dispensing political favors. 

One would expect the governor’s vuvuzelas to hoist a few inconsequential appointments to demonstrate the governor’s good faith towards the OGD group. But ask them: how were the few handpicked individuals chosen? There was no input from the political family, essentially to spite the leadership. 

How do you choose to feed a man’s son without ascertaining the desirability of the meal with the parents? 

Let it be known that OGD as a person can no longer be governor, neither is he seeking to compete for the control of the levers of power with the governor. But as a leader, he has a responsibility to ensure the proper welfare of the many he led into the APC. The OGD that we know is an excellent head hunter will never say ‘no’ to a nomination or recommendation. 

OGD Youth Wing

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: OGD 's long walk in APC: An eyewitness account Series 2

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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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