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The group noted that the current regulations, such as the Stamp Duty Act of 1939, are outdated and inadequate for addressing the complexities of digital currencies.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.
Education
2024 NECO: 60% of candidates pass with five credits
Mariam Sanni
The National Examinations Council, NECO, has released the results of the June/July 2024 Senior School Certificate Examination (SSCE) , with 60.55 percent of candidates securing five credits and above in English Language and Mathematics.
Registrar of NECO, Professor Dantani Ibrahim Wushishi, made this known while briefing newsmen at NECO headquarters in Minna, Niger State.
Prof. Wushishi disclosed that a total of 1,376,423 candidates, representing 706,950 males and 669,473 females, registered for the exam.
The NECO boss gave a further breakdown of the results as : “Number of candidates that sat is 1,367,736 representing 702,112 Males and 665,624 females.
” Number of candidates with five Credits and above, including English and Mathematics is 828,284, representing 60.55%.
” Number of candidates with five credits and above, irrespective of English and Mathematics is 1,147,597, representing 83.90%”
On the number of examination malpractice, Wushishi said this year’s figure witnessed a great reduction when compared to last year.
He said: “The number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1%.”
The registrar, however, revealed that 40 schools were found to be involved in mass cheating during the examination.
” During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states. They will be invited to the Council for discussion, after which appropriate sanctions will be applied. One school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.
” Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness, and negligence, in 12 states.”
He urged candidates who sat for the examination to visit the NECO website to access their results.
” At this juncture, I wish to formally declare that the 2024 Senior School Certificate Examination (SSCE) Internal is hereby released to the public. By this release, candidates can now access their results on the NECO website:www.neco.gov.ng using their examination registration number,” Wushishi said.
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