• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FIRS Seeks Legislation To Regulate Crypto Industry

by Leadership News
1 year ago
in News
Executive Chairman of FIRS, Zacch Adedeji.

Executive Chairman of FIRS, Zacch Adedeji.

Share on WhatsAppShare on FacebookShare on XTelegram

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji had revealed that the Service would be seeking the support of the National Assembly to enact a law on the crypto industry.

Advertisement

Adedeji said this at a stakeholder engagement with the Senate and House Committee on Finance organised by the Intergovernmental Relations Department of the Service with the theme, ‘Repositioning the FIRS To Achieve its Mandate’, held in Lagos.

According to him, the plan first is to have the law that regulates the crypto sector, “and that is why you see that we are here with the legislature, which will be the base of charging.

“And that is done in any other place in the world when you have this innovation or system. So you just have to get ready for it because you cannot go away from it. We just have to plan to regulate it in such a way that it is not injurious to the economic development of Nigeria.”

The FIRS’s boss who further stated that the service has a target to generate N19.4 trillion in tax revenue in 2024, assured that “we are on the path to make sure that we achieve N19.4 trillion target.”

RELATED

Imo Descending To A Failed State, Says Ihedioha

Okigwe Killings Represent Governance Failure – Ihedioha

48 minutes ago
Nigeria’ll Rise On Tech, Food Security — Tinubu

Nigeria’ll Rise On Tech, Food Security — Tinubu

1 hour ago
ADVERTISEMENT

Speaking further, Adedeji said, “The law the country is using today is 1939 law. As at that time, we do not have state or local government and due to this, the President set up the Tax and Fiscal Reform Committee to change and check all these laws.”

Adedeji added that “by September, the new law will be presented to the National Assembly. Its passage would mark a significant step towards establishing a regulatory environment for the cryptocurrency industry in Nigeria.

“Today, we cannot run away from cryptocurrency but as we stand today, there is no law anywhere in Nigeria that regulates cryptocurrency. We cannot run away from it.

ADVERTISEMENT

“The FIRS recognises the growing importance of cryptocurrency and the need for a regulatory framework to address its unique characteristics. By establishing clear rules and guidelines, the government can promote responsible innovation and protect investors,” he stated.

For his part, the Chairman, Senate Committee on Finance, Senator Muhammed Musa described the theme on repositioning the FIRS to achieve its mandates as timely and crucial “as we continue our collective effort to strengthen the tax system of the Country.”

He said, “The collaboration between the Senate and the House Committees of Finance underscores the importance of a unified approach in addressing the challenges of taxation.

Musa said that by working together, the two legislative chambers can ensure that the FIRS is fully equipped to maximise revenue collection, thereby providing the necessary resources for national development and public welfare.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Federal Inland Revenue Service (FIRS
SendShare10173Tweet6358Share
ADVERTISEMENT
Previous Post

Tinubu Greets Ex-military President Babangida At 83

Next Post

Rivalry: My Fans Are The Problem — Davido

Leadership News

Leadership News

You May Like

Imo Descending To A Failed State, Says Ihedioha
News

Okigwe Killings Represent Governance Failure – Ihedioha

2025/08/27
Nigeria’ll Rise On Tech, Food Security — Tinubu
News

Nigeria’ll Rise On Tech, Food Security — Tinubu

2025/08/27
2023 Polls: Blame INEC, Not Atiku, Aide Replies Adeyanju
News

Oyo APC Tasks INEC On Hitch-free Voter Registration Exercise

2025/08/27
NECO To Conduct SSCE In Saudi Arabia
News

NECO Denounces Fake Recruitment Notice

2025/08/27
Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others
News

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

2025/08/27
June 12: Democracy Has Come To Stay In Nigeria — Gov Mohammed
News

Bauchi Records 70% 2025 Budget Performance

2025/08/27
Leadership Conference advertisement

LATEST

Okigwe Killings Represent Governance Failure – Ihedioha

Nigeria’ll Rise On Tech, Food Security — Tinubu

Oyo APC Tasks INEC On Hitch-free Voter Registration Exercise

Security Agents Arrest 2 Suspected Vandals In Akwa Ibom

NECO Denounces Fake Recruitment Notice

Crystal Palace Approach Man City For Akanji

Kwara Varsity Lecturers Stage Peaceful Protest, Demand Payment Of EAA, Others

Crystal Palace Agree £26m Deal For Villarreal Winger Pino

Bauchi Records 70% 2025 Budget Performance

Edo At 34: Okpebholo Celebrates Founding Fathers, Sue For Unity

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.