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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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Soludo, Nwifuru, Others Attend Ezeife’s Funeral In Awka

Madukwe Nwabuisi by Madukwe Nwabuisi
April 20, 2024
in News Bite, Politics
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The remains of the late former governor of Anambra State, Dr Chukwuemeka Ezeife, was today buried in Awka, the state capital after a state funeral service held in his honour.

This was according to the funeral ceremony on Saturday and monitored by our correspondent.

Ezeife, was Anambra state governor from January 2, 1992, to November 1993, during the aborted Third Republic.

It was earlier reported that Ezeife died at the Federal Medical Centre, Abuja, on December 14, 2023, at the age of 85.

Among dignitaries who attended the funeral service of the ex-Anambra Governor included the governor of Anambra State, Prof. Chukwuma Soludo, the governor of Ebonyi State, Francis Nwifuru, who was represented by his deputy, Mrs Patricia Obila, among many others.

In his remarks, Soludo praised the late Ezeife, stressing that he lived the kind of lifestyle he was known to preach.

He noted that ‘Okwadike’ as he was fondly called during his lifetime, was a man of integrity and credibility.

“He said, Ezeife lived the life he preached. He did not just preach it, he lived it. Ezeife believed in the law, and that was why he held Nigeria responsible for the law.”

However, the governor condemned the printing of brochures, banners and other materials used for the burial ceremony, stating that it was against the Anambra State Burial Laws.

He stressed that the late Ezeife would not have approved of such.

Recall that in February 2024, the Anambra State Government reiterated its resolve to enforce the burial law enacted in 2019 to control burial and funeral activities in Anambra State.

The law banned the erection of any kind of billboard, banner or poster of a deceased person(s) in the state. It only allowed the mounting of directional posts but should not be done seven days before the burial date and should be removed not later than seven days after the burial date.

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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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The law was passed and signed into law during the tenure of former governor, Willie Obiano in 2019.

Speaking on the conduct of the burial activities, Soludo said, “I must not leave without saying this, if the Okwadike that I knew were to be alive, he would not have supported most of what is being done here today. When I got here and saw brochures printed, I said this is wrong, because it is against the Anambra State Burial Laws.

“Some people texted me asking to print some materials for the burial but I told them they don’t have waivers to do such because it is against the burial laws in Anambra state. Printing of any materials for burial in Anambra is meant to be for just one day. That is the law.

“We won’t enforce the law when a poor man dies and then overlook it when a rich man dies, no.

“I did not pass the law, the law was passed two years before I became governor of Anambra state.”

Recall that according to a burial poster signed by the Anambra State Commissioner for Information, Paul Nwosu, the deceased would be given a state burial, with the obsequies commencing with some pre-burial events.

The events, some of which had already been held, included a service of songs at the Ecumenical Centre, Abuja (slated for April 12, at 5 pm); a celebration of life and times of ‘Okwadike’ at the Eagle Square, Abuja (slated for April 13, at 10. am); and the National Night of Tributes at Thisday Dome, Abuja, (slated for April 15, at 5. pm).

These were followed by state burial events, which included state commendation and thanksgiving service at the International Conference Centre, Awka (slated for Friday, April 19, at 10. am) with tributes immediately after the service.

A Service of Songs was held at his country home, Igboukwu in Aguata LGA, by the Salvation Army Church on Friday, April 19, at 5. pm.

A burial service held at the deceased’s residence, in Igboukwu, will be held on Saturday, April 20, at 10. am, with interment and condolence visits immediately after the service.

A thanksgiving service will conclude the ceremonies at the Salvation Army Church, Igboukwu, on Sunday by 9. am.

Madukwe B. Nwabuisi
Madukwe Nwabuisi

Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.

Tags: EZEIFESoludo

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