The Federal Government has declared that it cannot tackle Nigeria’s growing social and humanitarian challenges alone, urging faith-based organisations, the private sector, civil society groups and patriotic citizens to join hands in addressing the country’s worsening poverty crisis.

The call was made on Friday in Abuja during the unveiling of the Knights of St. Mulumba (KSM) Nigeria’s N2 billion Endowment Fund and Integrated Charity Programme, an initiative designed to provide sustainable funding for humanitarian interventions, education, healthcare, legal aid, support for widows and orphans, correctional services and emergency relief.

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The appeal comes amid rising inflation and deepening economic hardship that have left more Nigerians relying on churches, mosques and charitable organisations for survival, stretching the capacity of both government and voluntary groups.

Representing the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, the Chairman of the House Committee on Christian Pilgrimage Affairs, Hon. Festus Adefiranye, said solving Nigeria’s social challenges requires collaboration beyond government.

“Government alone cannot solve every social challenge confronting our nation. Sustainable national development requires a genuine partnership among public institutions, faith-based organisations, the private sector and civil society.

“Today’s event goes beyond the unveiling of an endowment fund. It is a reaffirmation of the enduring values of compassion, sacrifice, true worship and solidarity upon which every prosperous society is built.”

Abbas also commended the Knights of St. Mulumba for over seven decades of contributions to education, healthcare, youth development, justice and humanitarian services.

He praised the structure of the endowment fund, saying: “I am particularly encouraged that the endowment fund adopts a sustainable financial model, preserving capital while disbursing investment returns to support humanitarian causes year after year. This is a model of prudent stewardship and institutional resilience that deserves emulation by many charitable organisations.”

Also speaking, the Secretary to the Government of the Federation (SGF), Senator George Akume, represented by his Special Assistant, Simon Tyungu, said Nigeria’s development challenges demand innovative solutions and stronger partnerships.

“Government alone cannot address every developmental challenge. Lasting progress can only be achieved through strong partnerships involving faith-based organisations, the private sector, civil society and patriotic citizens committed to the common good.”

Describing the initiative as more than just a financial scheme, Akume added: “It represents the institutionalisation of compassion, the sustainability of charity and the deliberate investment in humanity. It is a bold declaration that genuine service to God must find practical expression in service to mankind.”

He urged philanthropists, corporate organisations and well-meaning Nigerians to support the initiative, describing every contribution as “an investment in hope, dignity and a more compassionate society.”

Kogi State Governor Ahmed Usman Ododo, represented by the Secretary to the State Government, Mrs. Folashade Ayoade, pledged support for the programme and encouraged Christian, Muslim and traditional faith organisations to establish similar initiatives for widows, orphans, displaced persons and other vulnerable Nigerians.

“Government cannot do this alone. Nor should it.”

Earlier, the Worthy Supreme Knight of KSM Nigeria, Sir Steve Adehi (SAN), said worsening economic conditions and declining membership contributions prompted the organisation to establish the endowment fund.

According to him, the Order, founded in 1953, has spent over seven decades supporting communities through education, healthcare, legal assistance, humanitarian services and women empowerment programmes.

“Our Order was founded in 1953. In its 73 years of existence, the Order has impacted communities through education, healthcare, humanitarian services, legal assistance and women empowerment programmes.

“As our society is advancing and our economic situation deteriorating, the need for these interventions has increased. These interventions have mostly been funded through dues and levies from members.

“Our membership strength is dwindling owing to death, age and economic decline. In order to respond to these increasing demands, we have to look for alternative ways of funding our charitable works.”

Adehi explained that the endowment fund would permanently change the way the organisation finances its charity programmes.

“We are building a permanent, professionally managed fund. We will keep its baseline capital entirely intact forever. Going forward, we will finance our charity programmes exclusively with the investment income generated by this fund, ensuring we never use the fund’s core capital. Instead, we will continue to grow the capital.”

He disclosed that the Order aims to raise an initial N2 billion, with contributions expected from members, corporate organisations and development partners.

To protect the fund, he said the organisation would amend its constitution to prevent present and future leaders from accessing the principal amount, while investment proceeds would be used to finance healthcare outreach, scholarships, humanitarian relief, legal services, correctional centre interventions, social justice advocacy and emergency support for communities affected by economic or ecological hardship.

“What we build today will serve the Church, strengthen communities and speak for us long after our time on earth has passed,” he added.

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.

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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.

Residents of Ankpechi community in Oglewu Ward, along the Otukpo–Ogobia Road in Ohimini Local Government Area of Benue State, were thrown into panic on Thursday after suspected armed herders reportedly invaded the area, shot a resident and looted several provision stores.

The attack, which occurred between 8 a.m. and 9 a.m., forced traders, customers and residents to flee for safety as the gunmen allegedly fired sporadically upon entering the community.

A resident said people had just begun their daily activities and shop owners were opening for business when the attackers suddenly emerged and opened fire.

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“We have all been on the alert since the attacks on neighbouring communities. So, when people sighted them, they raised the alarm, and everyone started running for safety.

“They moved into people’s shops, looted goods and food items before leaving. Unfortunately, one man was shot, but he was still alive when help arrived. He was rushed to the hospital for treatment,” the resident said.

Confirming the incident, the Chairman of Ohimini Local Government Area, Gabriel Adole, said the attackers were suspected armed herders.

“Yes, there was an attack this morning between 8 a.m. and 9 a.m. by suspected armed herdsmen. They came to Ankpechi community in Oglewu Ward, shooting sporadically. They shot one person, forcing residents to scamper for safety.

“They burgled shops in the area and carted away goods, particularly food items. This tells you that they are operating very close to our communities. They could not get food elsewhere, so they came into Ohimini and used force to take food from our people.

“The residents identified them as armed herdsmen. The victim who was shot has been taken to the hospital, and we are hopeful that he will survive,” Adole said.

The council chairman disclosed that he immediately informed Governor Hyacinth Alia and alerted security agencies after the attack, prompting the deployment of security operatives to the affected community.

“I informed the governor immediately, and security personnel were promptly deployed to the area. Many security operatives are currently on the ground, while others are combing the surrounding bushes,” he added.

As of the time of filing this report, the Benue State Police Public Relations Officer, DSP Udeme Edet, could not be reached for comments.

The latest attack comes amid growing concerns over recurring assaults on communities in Benue State, with residents calling for stronger security measures to stem the wave of violence.