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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The CSOs noted that Nigeria’s current regulations, such as the Stamp Duty Act of 1939, are outdated and inadequate for addressing the complexities of digital currencies.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
FG Inaugurates Anti-Corruption and Transparency Unit in Youth Ministry
The Federal Government has inaugurated the Anti-Corruption and Transparency Unit (ACTU) of the Federal Ministry of Youth Development, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Speaking at the inauguration, the Permanent Secretary, represented by the Director of Education and Youth Development (EYD), Mr. Kabir Mohammad, described the event as a significant milestone in the Ministry’s commitment to transparency, accountability, and good governance.
He expressed gratitude to the ICPC for its guidance and support in establishing the unit, acknowledging the dedication and hard work of the Ministry’s staff in making this initiative a reality since its separation from the Ministry of Sports.
“To the newly inaugurated members of the ACTU, I charge you to discharge your duties with integrity, professionalism, and commitment to excellence. Your role is critical in ensuring that our Ministry operates with transparency, accountability, and integrity,” Mr. Mohammad stated.He also urged Heads of Departments and Units to collaborate with the ACTU, particularly on integrity and compliance matters, noting that these areas are crucial to the annual performance evaluation of Ministries, Departments, and Agencies (MDAs) in alignment with ICPC principles.
In his goodwill message, Mr. Olusegun Adigun, representing the ICPC Chairman, emphasized the importance of the ACTU in advancing the Ministry’s vision.
“Aligned with the Ministry’s vision of empowering Nigerian youth to succeed in all fields of life through dedication, unity of purpose, and commitment to national development, the ACTU will serve as a strategic instrument to support the Ministry in achieving its objectives through its mandated duties,” Mr. Adigun stated.
He further advised the Ministry’s leadership to create an enabling environment for the ACTU by granting it representation in standing committees, in accordance with the government circular Ref No: OHCSF/SPSO/CSTD/314, dated October 5, 2016.
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