“It’s going to be great news if the Federal Government of Nigeria and her national assembly implements the newly proposed bill on crypto regulation, crypto regulation in Nigeria is a way forward” T.I. Okechukwu quoted on his X post. Reacting to what Federal Inland Revenue Service (FIRS) chairman said, Dr. Zacch Adedeji, made this revelation yesterday in Lagos during the 2024 “Stakeholders’ Engagement with the Senate and House Committees on Finance” with the theme “Repositioning the FIRS to Achieve Its Mandate.”
He said: “In September, we are bringing a law that will overhaul the whole process of revenue administration and regulate cryptocurrency in Nigeria, including simplifying the tax law that we have.
“Today, we cannot run away from cryptocurrency. But as we are here today, there is no law anywhere in Nigeria that regulates cryptocurrency. But it is the new thing that is happening and we cannot run away from them.
“The first thing is to have a law that regulates it in such a way that is not injurious to the economic development of Nigeria,” he said.
Reacting to this, Ti Okechukwu made a post on X in anticipation of the new bill to that will be passed by September to regulate cryptocurrency exchanges.
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