Nigerians in the Diaspora have lauded the crypto tax reforms spearheaded by Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), as a transformative move for Nigeria’s economy.
In a statement released on Monday, Dr. Obiora Okereke, President of the group, and Home Secretary Bukola Shonekan, applauded Adedeji’s initiative to modernize Nigeria’s tax system and effectively integrate cryptocurrencies. They highlighted that the existing regulations, such as the Stamp Duty Act of 1939, are outdated and insufficient for managing the complexities of digital currencies.
Okereke noted that the proposed reforms, including the establishment of clear guidelines for digital assets, simplified tax reporting, and the use of technology, would significantly ease compliance. He stated, “Dr. Adedeji’s crypto tax reforms represent a bold step towards embracing the digital economy. His leadership ensures that Nigeria’s tax policies evolve with the financial landscape and align with global standards.”
He emphasized that Adedeji’s approach will enhance confidence in the cryptocurrency market, protect consumers, and attract international investment. “His commitment to modernizing Nigeria’s tax system is a game changer for the country’s economic growth,” Okereke added.
He urged stakeholders to support Adedeji’s reforms, emphasizing that they will lead to a more transparent, secure, and prosperous financial system for Nigeria. “Dr. Adedeji’s reforms bring significant benefits by providing clarity on digital asset taxation, which boosts confidence and encourages broader participation in the cryptocurrency market,” Okereke concluded.
