News
Nigeria in Diaspora group says FIRS Boss Zacch Adedeji Crypto tax reforms a game changer
The Nigeria Professionals in Diaspora group has praised Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), for his innovative crypto tax reforms, describing them as a game changer for Nigeria’s economy.
In a statement delivered during a press conference in Abuja and signed by Dr. Obiora Okereke, President, and Chief Mrs. Bukola Shonekan, Home Secretary, the group commended Dr. Adedeji’s efforts to modernize Nigeria’s tax system and effectively incorporate cryptocurrencies.
“Dr. Adedeji’s crypto tax reforms are a bold step towards embracing the digital economy,” the statement read. “His leadership ensures Nigeria’s tax policies adapt to the evolving financial landscape, aligning with global standards.”
The group noted that the current regulations, such as the Stamp Duty Act of 1939, are outdated and inadequate for addressing the complexities of digital currencies.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 will boost confidence in the cryptocurrency market, protect consumers, and attract international investment,” the statement added. “His commitment to modernizing Nigeria’s tax system is a game changer for the country’s economic growth.”
The Nigeria Professionals in Diaspora group 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 group recognized the need for a regulatory framework that effectively manages the evolving financial world.
“Dr. Adedeji’s crypto tax reforms are a step in the right direction,” the statement concluded. “We commend his vision and leadership in positioning Nigeria for economic success in the digital age.”
The statement added that “Dr Zacch Adedeji’s changes to Nigeria’s tax system, especially regarding this new update on cryptocurrency, bring with it benefits for Nigerians. By setting clear rules for digital assets, these reforms make it easier for people and businesses to understand and meet their tax responsibilities. This clarity helps boost confidence in the cryptocurrency market and encourages more people to get involved.”
It noted that as the digital economy evolves, keeping tax regulations up to date with technological advancements is important.
Law & Crime
Court sentences killers of Ogun couple, son, to death by hanging
The Ogun State High Court in Abeokuta on Monday sentenced three persons to death for killing a couple, Kehinde and Bukola Fatinoye and their son, Oreoluwa, on 1 January 2023.
Trial judge Basirat Adebowale sentenced the trio – Lekan Adekanbi, was the family’s driver, Odetola Ahmed and Adeniyi Waheed – in a judgement which lasted for more than three hours, DailyPost reports.
The News Agency of Nigeria (NAN) reports that the defendants were charged with 24 counts of armed robbery, armed robbery, conspiracy to murder, murder, arson, escape from lawful custody, perverting the course of justice and receiving stolen property, among others.
Gruesome murder
The assailants reportedly trailed Mr Fatinoye, a former employee of the Central Bank of Nigeria (CBN), and his wife, Bukola, alongside their son, Oreoluwa, as they were returning home from the 2022/2023 crossover service at the Christ Anglican Church Iporo-Ake, Abeokuta.
The couple who lived at Oba Karunwi Road, a street behind former Governor Ibikunle Amosun’s residence, in Ibara GRA, Abeokuta, at about 1:30 a.m. were robbed, gruesomely murdered and their house set ablaze.
The assailants reportedly tied their son, Oreoluwa, and adopted son, Felix, with ropes and threw them into a river along Adigbe-Obada Road.
Penalties
Delivering judgement on Monday, the judge held that the prosecution proved its cases against the three defendants beyond reasonable doubt.
She found the three principal defendants guilty of murder.
The judge held that the convicts did not deserve mercy, as their lawyers had requested, because of the way they killed the couple and their son.
She convicted them of counts one to nine, handing them death by hanging or lethal injection, life imprisonment with hard labour, 14 years imprisonment among others for the various offences.
“The sentence of this court on Adekambi Lekan in respect of count II is that you be hanged by neck until you’re dead or by lethal injection.
“May God have mercy on your soul,” the court held.
The judge also convicted Ms Fadairo, the wife of Mr Adekanbi, to two years imprisonment for perverting the course of justice by hiding her husband.
Meanwhile, Mr Adekanbi’s mother, Adenike, was also sentenced to one year imprisonment for making false statements to police officers.
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