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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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‘Military Gets Huge Budgets, Yet Air Crashes Persist’ — Shehu Muhammad

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Military Conducts Mass Burial For Slain Soldiers In Niger Ambush, Air Crash

Rights activist, public affairs analyst and Chief Executive Officer of The Dialogue, Shehu Muhammad, has questioned the continued occurrence of military aircraft crashes despite the huge budgetary allocations to the country’s defence and security sector.

Muhammad spoke while reacting to the recent Nigerian Navy aircraft crash in Irele Local Government Area of Ondo State during an interview on Channels Television’s The Morning Brief.

Describing the incident as “one incident too many,” he recalled that Nigeria had recorded several military aircraft crashes involving the Nigerian Air Force and Nigerian Army over the years.

RELATED NEWS: Military Gear Found at Ondo Crash Site as Helicopter Burns to Rubble

He said the recurring incidents had raised concerns among members of the public about the condition of military aircraft and the process through which military hardware is procured.

“People have begun to cast aspersions as to the honesty, sincerity, and openness in the purchase of military hardware, including airplanes,” Muhammad said.

According to him, the concerns are heightened by the substantial funds allocated to the military and other security agencies over the years.

“There are insinuations by the public that, after all, the military receive the highest amount of money from the budget year in, year out,” he said.

Muhammad also questioned the transparency of defence procurement, particularly the process of selecting contractors for the supply of military equipment.

He argued that the repeated crashes should prompt authorities to examine military aviation operations, aircraft procurement and the management of defence resources.

The latest crash occurred in Irele, Ondo State, with recovery efforts reportedly complicated by the difficult terrain around the crash site.

Muhammad said the latest incident should not be treated in isolation, but should lead to broader questions about military aviation safety and the management of resources allocated to the defence sector.

He called for greater transparency and accountability in the procurement and management of military hardware to restore public confidence.

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‘NYSC Has Outlived Its Usefulness, Should Be Scrapped’ — Shehu Muhammad

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Gombe NYSC Prioritises Safety of Corps Members

Rights activist and public affairs analyst, Shehu Mohammed, has called for the scrapping of the National Youth Service Corps (NYSC), saying the scheme has outlived its usefulness amid growing security concerns across the country.

Shehu made the call on Wednesday during an interview on Channels Television’s The Morning Brief, while reacting to the kidnapping of prospective corps members travelling to orientation camps in Akwa Ibom and Anambra states.

He described the incident as “one incident too many,” noting that kidnapping, maiming and the detention of victims in kidnappers’ camps had become frequent in several parts of the country.

SEE ALSO: 2027: North Should Back South-West To Complete 8 Years In Power — Shehu Sani

“I think it is just a case of one incident too many. There are more unreported cases of kidnapping and maiming and detention in kidnappers’ den, almost all over the country, especially in the northern part of the country: the Middle North West, North East, and North Central. It’s a daily, daily happening,” Sani said.

He said the security situation had made him question the continued relevance of the NYSC scheme, which was established to promote national unity.

“When Bukola was saying that she objects to the scrapping of NYSC, I tend to take a different view. My view is that the entire NYSC was meant to unite Nigeria, but if in uniting Nigeria you lose your daughter, you lose your son, you lose your uncle, you lose your sister, you lose your neighbour, then it’s not worth the trouble,” he said.

Shehu argued that corps members should instead be allowed to serve in their respective states, eliminating the need for young Nigerians to travel long distances to orientation camps.

“This NYSC issue should be scrapped, removed from the constitution, allow each and every corps member to serve in his own state, traveling with all the dangers, with all the costs,” he said.

He also highlighted the financial burden placed on families when corps members are posted far from their home states.

“If a child is going from Katsina to Anambra State to report to the camp, minimum that you give him is three hundred thousand naira for transfer cost, three hundred. How many parents have three hundred thousand naira to give their wards?” Sani asked.

He said the financial burden was only one aspect of the problem, with corps members also facing security risks and possible trauma during interstate travel.

“Minus all the dangers, the consequences, the uncertainties, the traumas involved. If your child has to go through a trauma, through uncertainty, through pain, through kidnapping, through raping, eventually through killing, why do you have to go for NYSC?” he said.

“As far as I’m concerned, the NYSC project has outlived its usefulness. It should be scrapped.”

Shehu also warned that kidnapping in Nigeria was taking a new dimension, with criminal groups increasingly targeting vulnerable groups.

“Corps members are vulnerable groups. Travelers for commercial purposes all over the country are vulnerable groups. Therefore they are now going for soft targets,” he said.

According to him, kidnappers also use abductions to blackmail victims’ families and government authorities into paying ransom.

“The next one is blackmailing either the parents or blackmailing government to collect money,” he said.
Sani alleged that ransom payments were subsequently used to finance criminal activities.

“So they can finance their arm purchase. They can finance their purchase of hard drugs to enable them operate without pity and compassion, and to send permanent fear into the community,” he said.

He added that the kidnappers were using their activities to create fear within communities, despite being relatively few in number.

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NCDMB, Zeconia Global Train 50 on Digital Oilfield Operations

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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with Zeconia Global Investment CO. Ltd, has successfully completed the Training on Digital Oilfield Operation & Data Analytics for 50 participants in Lagos State.

The 5-day intensive capacity-building program, which was held from September 28 to October 2, 2026 in Lagos, came to a successful close with participants equipped with cutting-edge digital skills for the oil and gas industry.

The training was designed to bridge the digital gap in the sector, exposing beneficiaries to practical knowledge on digital oilfield architecture, production optimization, real-time data monitoring, IoT applications, predictive analytics, and data-driven decision making in upstream operations.

READ ALSO: 40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round

At the closing ceremony, the Managing Director of Zeconia Global Investment Co. Ltd, Olawore Oladipupo, conducted the official handover to participants, applauding their commitment, active participation and eagerness to learn throughout the duration of the training.

He charged them to leverage the knowledge gained to add value to the industry and position themselves for emerging opportunities in the digital energy space.

Participants expressed profound appreciation to NCDMB and Zeconia Global for the life-changing opportunity, describing the training as impactful, practical and timely for the evolving global oil and gas landscape.

The programme once again demonstrates NCDMB’s unwavering commitment to human capital development, local content growth and strategic partnerships aimed at empowering Nigerians with relevant skills for the future of work.

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