Nigeria’s Federal government is set to introduce a crypto regulation bill to address the growing adoption of cryptocurrencies in the country. Announced by Dr. Zacch Adedeji, the bill aims to regulate the crypto market, implement taxes on crypto firms, and ensure digital assets do not negatively impact the economy. With revenues projected to reach $32.58 million in 2024 and user numbers expected to grow significantly, Nigeria is positioning itself as a key player in the African crypto landscape.
read moreAdedeji Zacch
0 posts last weekNigeria FIRS Proposes New Bill to Regulate Cryptocurrency and Modernize Taxation
The Nigerian Federal Inland Revenue Service (FIRS) is set to introduce a new bill aimed at regulating cryptocurrency and modernizing tax collection, with implementation possible by September. FIRS Chairman Dr. Zacch Adedeji emphasized the necessity of regulation to support economic development and streamline tax laws, while stakeholders, including Senator Sani Musa, expressed strong support for the initiative to enhance revenue generation.
read more