News
Crypto Tax Revolution: Why FIRS Boss Zacch Adedeji Deserves Commendations – CSOs
Joel Ajayi
About 1000 Coalition of Civil Society Organisations (CSOs) has commended Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his pioneering efforts in revolutionizing Nigeria’s tax system to accommodate cryptocurrencies.
In a press conference addressed in Abuja on Monday and signed by Mallam Yakubu Mohammed, National Coordinator, and Barr Godspower Ebi, National Secretary, the CSOs praised Dr. Adedeji’s visionary leadership in addressing the challenges posed by digital currencies.
“Dr. Adedeji’s commitment to modernizing Nigeria’s tax system is a bold step towards embracing the digital economy,” the statement read. “His efforts will not only boost confidence in the cryptocurrency market but also protect consumers, reduce tax evasion, and attract international investment.”
The CSOs noted that Nigeria’s current regulations, such as the Stamp Duty Act of 1939, are outdated and inadequate for addressing the complexities of digital currencies. They applauded Dr. Adedeji’s plans to establish clear guidelines for digital assets, simplify tax reporting, and leverage technology to ease compliance.
“Dr. Adedeji’s approach aligns with global best practices, and his leadership ensures that Nigeria’s tax policies adapt to the evolving digital financial economy,” the statement added.
The CSOs urged stakeholders to support Dr. Adedeji’s initiatives, saying, “This move will create a more transparent, secure, and thriving financial system for Nigeria.”
With Nigeria’s growing engagement in digital currency trading, the CSOs recognized the need for a regulatory framework that effectively manages the evolving financial world.
“Dr. Adedeji’s crypto tax revolution is a game-changer for Nigeria. We commend his dedication to making Nigeria’s tax system fit for the digital age.”
News
Ogunlesi backs Tinubu reforms as FIRS chairman Adedeji highlights export-led economy
Joel Ajayi
After a high-level meeting with President Bola Tinubu in Abuja, Nigerian-born global investor Adebayo Ogunlesi expressed renewed confidence in the country’s economic reforms, indicating potential mega investments across energy, aviation, and port sectors.
He was joined in that optimism by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), who stressed that the reforms were laying the groundwork for an export-driven economy.
Speaking to journalists after the closed-door meeting, Ogunlesi praised the sweeping policy changes under Tinubu’s administration, including the removal of subsidies, tax reforms, and the revival of a refinery already exporting aviation fuel.
“We had an excellent meeting where we discussed how to put Nigeria front and center for international investment. The President was very encouraging, and we shared useful suggestions on driving economic growth,” Ogunlesi said.
Although he declined to reveal specific details, Ogunlesi confirmed that his firm is actively investing in Nigeria and assessing new opportunities.
“Watch this space. Nigeria is not yet the most exciting investment destination, but that’s what we are working on,” he teased.
Pressed on the sectors of interest, Ogunlesi highlighted energy, gas, aviation, ports, and renewables. Drawing on his firm’s experience with LNG projects in Texas and Australia, he noted Nigeria’s massive untapped gas reserves.
On aviation, he acknowledged his reputation as “the guy who bought Gatwick Airport” and signaled interest in similar ventures locally.
He also admitted that one of his companies operates ports in Cotonou and Lomé but none in Nigeria, a point Tinubu reportedly challenged him on.
“He forgave me but said, ‘you have to bring port investment to Nigeria,’” Ogunlesi recounted with a smile.
International investor Hakeem Bello-Osagie, who was also present, underscored the importance of diaspora participation in Nigeria’s growth story.
“When Nigerians at home and abroad invest in Nigeria, it sends a strong signal to the world,” he said, lauding Tinubu’s policies for making the country “investable.”
Echoing the sentiment, FIRS chairman Adedeji described the reforms as the foundation for an export-led economy.
“We’ve done the fundamentals, and now it is time to deliver growth,” he said.
With global players signaling confidence, the momentum for Nigeria’s economic repositioning is gaining ground, setting the stage for transformative investments in key industries.
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