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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The group noted that the current regulations, such as the Stamp Duty Act of 1939, are outdated and inadequate for addressing the complexities of digital currencies.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.
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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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