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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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Remo Secondary School 88/93 Set Honors National President Aare Adetola Emmanuelking with Surprise Birthday Celebration

Seunmanuel Faleye by Seunmanuel Faleye
April 28, 2025
in Press Release
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Remo Secondary School 88/93 Set Honors National President Aare Adetola Emmanuelking with Surprise Birthday Celebration
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In a heartwarming and historic show of affection and loyalty, the 88/93 Class Set of the Remo Secondary School Old Students Association (RSSOSA) staged a grand surprise birthday celebration in honour of their own, the National President of RSSOSA, Aare Adetola Emmanuelking.

The event, which took place at the prestigious Marriott Hotel, Lagos, was a spectacular and deeply emotional affair that left the celebrant overwhelmed and moved to tears. Unknown to Aare Adetola, the surprise had been meticulously planned since January of this year, in close collaboration with his wife, who kept the arrangements a secret until the big day.

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The celebration was marked by an electrifying atmosphere of joy, laughter, and heartfelt emotions as classmates reunited to honour one of their own in grand style. The 88/93 Set spared no expense, presenting Aare Adetola with gifts worth several million naira.

Adding to the magic of the occasion, members of the 88/93 Set residing in the diaspora joined virtually from the United Kingdom, Canada, and the United States. Notable among them were Segun Osho, Rev. Fr. Oshitimehin, Sade Odesanya, Akeem Elegbeji, Gboyega Solarin, Johnson Olumuyiwa Sanya, Tope Otunba, Semeton Amosu, Yemisi Olowu, Bukky Alli, Bunmi Ojutialayo, Bolaji Desalu, Wasiu Talabi, Azeez Awolaja, Jimmy Adetayo, and Bisoye Sholuade, whose heartfelt participation further heightened the emotional resonance of the event.

The success of the surprise was largely credited to the tireless efforts and leadership of the Class Set Governor, Engr. Bola Owolabi Oladeinde, whose commitment, coordination, and attention to detail ensured a seamless and unforgettable celebration.

In his heartfelt appreciation speech, a visibly emotional Aare Adetola expressed profound gratitude to every member of the class set, describing the surprise as one of the most touching and humbling experiences of his life.

“Never in my wildest dreams did I imagine that such an elaborate and deeply moving celebration awaited me,” he said. “You have honored me beyond words, and I am eternally grateful. May God bless and replenish each of you for your sacrifices, generosity, and steadfast love.

Aare Adetola appreciated his wife for her support and for keeping the surprise a secret with such admirable dedication.”

The event was a powerful reaffirmation of enduring friendship, unity, and loyalty. The 88/93 Set of RSSOSA once again demonstrated that true brotherhood and sisterhood only grow richer and deeper with time, setting a remarkable example for alumni associations everywhere.

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: Aare Adetola EmmanuelkingRemo Secondary School

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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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