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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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Otunba Daniel’s Educational Legacy Recognized As FG Adopts TASUED

Seunmanuel Faleye by Seunmanuel Faleye
March 10, 2025 - Updated on April 4, 2025
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After nearly two decades of neglect by successive administrations, former Ogun State Governor and Senator representing Ogun East Senatorial District, Otunba Gbenga Daniel’s visionary educational project has finally received its due recognition with President Bola Ahmed Tinubu approving the federalization of Tai Solarin University of Education (TASUED).

The federalization marks a vindication for Daniel, who pioneered the establishment of Nigeria’s first specialized university of education in 2005 against significant odds and with remarkable foresight.

“It was a monumental undertaking that required immense political will,” said a close associate of the former governor. “OGD didn’t just conceive the idea—he transformed the entire landscape of Ijagun, developed infrastructure, and personally championed the accreditation process with the NUC.”

Records show that Daniel’s administration meticulously converted the former Tai Solarin College of Education into a full-fledged university after relocating the college to rebuilt facilities at Omu Ajose Comprehensive High School. The original campus underwent extensive development, including major road networks constructed by OGROMA, creating the foundation for what would become a pioneering educational institution.

What makes Daniel’s achievement particularly remarkable was its groundbreaking nature—TASUED became the first University of Education in Nigeria, only the second in Africa, and approximately the fifth worldwide. This positioned Ogun State at the forefront of educational innovation on the continent.

However, the years following Daniel’s tenure saw the institution largely sidelined. “Since 2005, successive administrations have not done much to further develop the institution,” Daniel noted in a recent statement. This period of relative neglect continued even as the institution was renamed Sikiru Adetona College of Education by the current state government.

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Education experts point out that the federalization under President Tinubu’s administration represents not just an administrative change but a powerful validation of Daniel’s original vision. The move is expected to inject much-needed federal resources into the institution, potentially transforming it into a national center of excellence for teacher education.

“Sometimes, visionary projects require time before their true value is recognized,” noted a senior education policy analyst. “What we’re seeing now is the belated acknowledgment of a pioneering educational model that was ahead of its time.”

For residents of Ogun State and educational stakeholders nationwide, the federalization signifies that Daniel’s educational foresight has finally received its due recognition at the national level, promising a renewed future for an institution that began as one man’s ambitious vision for transforming education in Nigeria.

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: DanielGbenga DanielTASUEDTinubu

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  • Tinubu Wanted Young Female Deputy Governor, Says Hamzat
  • Bode George Blames Excessive Land Reclamation for Lagos Flooding

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