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FG Tightens Grip on Crypto as Tinubu Signs New Executive Order

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The Federal Government has taken a major step to strengthen oversight of Nigeria’s cryptocurrency and digital assets sector following the signing of a new Executive Order by President Bola Tinubu.

The Presidential Executive Order on Virtual Assets Coordination, 2026, which takes immediate effect, establishes a coordinated regulatory framework aimed at improving oversight, tackling financial crimes, and encouraging responsible innovation within the country’s growing virtual assets industry.

READ ALSO: 2027: Adebayo Slams Tinubu-Shettima Ticket, Calls It a Political Scam

The announcement was made on Friday in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who said the initiative would harmonise the regulation of virtual assets while enhancing collaboration among key financial and security agencies.

According to the Presidency, the rapid growth of virtual assets has blurred the traditional boundaries between currencies, commodities, securities, and money, creating regulatory gaps that have exposed Nigeria to fraud, cybercrime, money laundering, terrorism financing, and revenue leakages.

“Too often, unregistered and fraudulent operators have exploited these gaps to prey on unsuspecting Nigerians, costing families their savings,” the statement read.

To address these challenges, the Executive 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-chairpersons.

The Nigerian Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA) will also serve on the council.

The council is expected to provide policy direction, strengthen cooperation among participating agencies, and work with the Attorney-General of the Federation to develop a harmonised legal and institutional framework for regulating virtual assets in Nigeria.

The Executive Order also creates a Virtual Asset Office, which will be domiciled at the CBN to coordinate information sharing, applications, and reporting among relevant institutions.

The Presidency stressed that the framework does not establish a new regulator or remove the statutory powers of existing agencies.

“Significantly, the Order does not create a new regulator or transfer powers between agencies. Each institution retains its full statutory mandate and independence, and the framework coordinates their work rather than replacing it,” the statement added.

Under the new arrangement, the SEC will continue regulating virtual assets classified as securities, while the CBN will oversee payment, settlement, custody, and other services involving non-security virtual assets.

Where regulatory jurisdiction is unclear, the Virtual Asset Council will determine the appropriate supervising agency.

As part of the reforms, the CBN is also set to launch a regulatory sandbox that will allow qualified operators to test blockchain-based services, virtual asset products, and other innovations under regulatory supervision before they are introduced into the wider market.

The Nigeria Revenue Service will also roll out a tax policy specifically for the virtual assets industry to clarify the application of existing tax laws and improve voluntary compliance.

Meanwhile, the Federal Government disclosed that it is finalising a Virtual Assets White Paper to outline Nigeria’s long-term policy direction for the sector.

The newly inaugurated Virtual Asset Council has been given 30 days to develop a harmonised implementation framework to facilitate the execution of the presidential directive.

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Borgu: ‘We Must Never Normalise the Killing of Nigerians’ — Peter Obi

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Peter Obi has condemned the reported killing of some Nigerians abducted in Borgu, Niger State, saying the country must never normalise the killing of its citizens.

Obi made this known in a statement released via X on Wednesday, where he described the reports emerging from Borgu as increasingly difficult to comprehend and deeply painful.

He recalled that on August 27, he had expressed his anguish over the reported abduction of about 600 Nigerians, including women, children and elderly people, alongside the killing of others.

ALSO SEE: ‘You Should Not Have to Leave Nigeria to Succeed’ – Peter Obi Tells Nigerian Youth

According to him, his anguish has deepened following continuing reports of the gruesome killing of some of those abducted, while many others remain unaccounted for.

Obi also referred to another disturbing incident in which a bandit group reportedly beheaded a Nigerian and sent his severed head to a community leader over a ₦50 million levy.

“If the reported killing was intended to increase pressure on the community and extract more money for those still being held, then we must recognise the terrible reality before us: human life is being deliberately turned into a bargaining instrument,” he said.

The former Anambra State governor said one person being killed to terrorise an entire community while others are kept alive as hostages for more ransom amounts to the systematic devaluation of human life.

“These are not statistics. They are Nigerians. They are mothers, fathers, children, brothers, sisters and elderly people,” Obi said.

He questioned how long the country would continue to accept the kidnapping of hundreds of citizens, killings, criminal levies, displacement and ransom payments as unavoidable features of Nigerian life.

Obi said insecurity also affects families, farms, businesses, education and public confidence in government.

He called for intelligence-led operations, stronger community security, rapid response, better coordination and equipment for security forces, effective border protection and sustained action against criminal networks.

“The primary responsibility of government is the security and welfare of its citizens,” he said.

“While politicians prepare for elections, Nigerians are asking for something more fundamental: the right to live.”

Obi urged the government to match prayers with action, insisting that no criminal group should determine who lives or dies anywhere in Nigeria.

“Every Nigerian life matters. Every victim deserves justice. Every community deserves protection. Nigeria must restore security, justice, and the dignity of human life,” he added

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Atiku Meets Aisha Buhari, Says Nigeria Must Become Affordable Again

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Former Vice President Atiku Abubakar has called for Nigeria to become more affordable, saying families across the country are being stretched by the rising cost of basic necessities.

Atiku made the call on Wednesday after receiving former First Lady Aisha Buhari, whose visit he described as warm and deeply appreciated.

SEE MORE: 2027: Atiku, Amaechi Meet David Mark-Led ADC Leadership

According to Atiku, the visit was also a reminder of the urgent responsibility before those seeking a better Nigeria: to put the welfare, dignity and future of Nigerians first.

“Across our country, families are being stretched by the rising cost of food, transport, education, healthcare and other basic necessities,” Atiku said.

He said Nigerians deserve an economy that rewards hard work, restores opportunity and allows every family to live with dignity and hope.

“That is the Nigeria we must build together, a country that works for its people again,” he said.

Atiku added “We must ease the burden, restore hope and Make Nigeria Affordable Again.”

 

 

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‘You Should Not Have to Leave Nigeria to Succeed’ – Peter Obi Tells Nigerian Youth

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Former Anambra State Governor and NDC presidential candidate, Peter Obi, has said Nigerian youths should not have to leave the country before their talents are recognised or their dreams become achievable.

Obi stated this in a statement released on Wednesday as he concluded a four-day working visit to the United States.

According to him, the visit provided an opportunity to engage with prominent personalities and discuss issues concerning Nigeria, the United States and the future of Nigeria’s youthful population.

ALSO READ: Peter Obi Backs Dangote Refinery IPO, Urges Nigerians to Invest

Obi said one of the most fulfilling parts of the visit was meeting young Nigerian professionals in the US, including doctors, lawyers, engineers, technology professionals, entrepreneurs, educators and business leaders.

He said many of them were excelling in their respective fields while remaining committed to the development of Nigeria.

“My message to them was simple: you are not outsiders to Nigeria’s future; you are an important part of it,” Obi said.

He described the knowledge, experience and innovation of Nigerians in the diaspora as “enormous national assets,” stressing the need to build a country that welcomes their contributions and provides every Nigerian with a meaningful opportunity to participate in national development.

Obi said his vision of a “New Nigeria” was one where “the son or daughter of a nobody can become somebody without knowing anybody,” adding that a person’s background should not determine their destination.

He also called for Nigeria to move from consumption to production, while investing in education, healthcare and human capital, supporting businesses, creating productive jobs and building an economy that gives young Nigerians reasons to believe in their future at home.

“Our young people should not have to leave Nigeria before their talents are recognised or their dreams become possible,” he said.

Obi also disclosed that he engaged with diaspora media, including NoireTV Network and Adeola Talks, during the visit, where he shared his views on building a more productive, secure and prosperous Nigeria.

Describing the visit as fulfilling, Obi said the work of building the country must continue.
“Our challenges are great, but our potential is greater. We have the people, the talent, and the resources to build a country where opportunity is not determined by who you know or where you come from, but by what you can contribute,” he said.

“That is the Nigeria we must build together — a Nigeria that works for everyone.
“A New Nigeria is POssible.”

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