Connect with us

News

Nigeria Needs Law To Overhaul Revenue Collection,Regulate Cryptocurrency Landscape – FIRS Chairman

Published

on

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry.

Speaking on Saturday at the FIRS 2024 Stakeholders Engagement with the Senate and House of Representatives Committees on Finance in Lagos, Dr. Adedeji highlighted the absence of current legal frameworks governing cryptocurrency in Nigeria, calling for the urgent need for regulation.

 

Nigeria’s cryptocurrency industry is estimated to be worth up to $400 million and one of the largest in Africa around 33% of the country’s population holds one form of cryptocurrency.

According to a report by Chainalysis, Nigeria’s cryptocurrency transaction volume experienced a 9% year-over-year growth, reaching $56.7 billion between July 2022 and June 2023.

He also noted that the forthcoming tax laws aim to overhaul the nation’s revenue administration, harmonize and simplify existing tax laws, and enhance services to support President Bola Tinubu’s economic plan.

He said, “For example, the stamp duty tax law of 1939 when there was no internet or connectivity, nor Local Government. Part of the reason President Bola Tinubu set up the Tax and Fiscal Reform Committee is to check these lapses and take care of the concerns by September.”

“While we cannot avoid cryptocurrency as there is no law in Nigeria presently regulating it, there is a need for a law that regulates this line of transaction. This is what is applicable in other countries of the world. When there are innovations of system, you must plan to regulate it in such a way that it is not injurious to economy development of Nigeria,”

Dr. Adedeji expressed gratitude to the National Assembly for its unwavering support to the Federal Inland Revenue Service (FIRS) over the years, which has enabled the agency to meet its targets and facilitate wealth distribution.

Dr. Adedeji further highlighted that the FIRS is on track to achieve the N19.4 trillion target set by the National Assembly at the beginning of the year.

Need for regulating the crypto industry in Nigeria Sen. Muhammed Musa, Chairman of the Senate Committee on Finance, stated that regulating the cryptocurrency industry was crucial for providing the country with appropriate legislation for tax collection and revenue generation.

He mentioned that the process would allow for the modification of tax laws that have been in place since before Nigeria’s independence.

The lawmaker expressed confidence that the Executive would submit the necessary bill after the Senate resumes recess, enabling amendments, repeals, and the re-enactment of laws that align with current trends.

He noted that considering technological advancements, cryptocurrencies have become a significant means of generating income, yet Nigeria lacks the necessary legal framework to govern this area.

News

Delta NMA Declares Blessing CEO’s Cancer Report Fraudulent

Published

on

By

The Nigerian Medical Association (NMA), Delta State branch, has officially debunked the cancer claims made by relationship influencer Blessing Okoro, popularly known as Blessing CEO.

In a statement on Tuesday, the association revealed that the document is an altered version of an original medical report belonging to a different patient diagnosed with breast cancer.

The statement, jointly signed by NMA Delta State Chairman, Dr. Israel Adaigho, and Secretary, Dr. Usamah Hannah, was sighted by The Nation on Tuesday.

According to the NMA, the viral report was purportedly issued by Xinus Medical Diagnostics and signed by consultant pathologist Dr. O.A. Odigwe.

However, Dr. Odigwe, who is the proprietor of the diagnostic centre, clarified that his facility never issued any report to Blessing Okoro.

The association explained that Xinus Medical Diagnostics is located in Asaba, Delta State not Enugu State as claimed in the circulating document.

The centre was contacted in May 2025 by a doctor from a private hospital in Asaba to conduct a confirmatory histology test for a patient identified as Mbara Deborah, who had a suspected case of breast cancer.

The test confirmed breast cancer, and the original result was issued to the referring doctor on May 9, 2025.

The NMA stated that the document currently being paraded online by the law firm Allen Juris Law is the original report bearing the name Mbara Deborah.

The version linked to Blessing CEO appears to be a doctored copy of this same report.

The statement read in part: “Our attention has been drawn to an online histology report purportedly issued to one Blessing Okoro, aka Blessing CEO, by Xinus Medical Diagnostics allegedly located in Enugu State. The said histology report was also alleged to have been signed by Dr. O.A. Odigwe, a consultant pathologist.

“The proprietor of Xinus Medical Diagnostics, Dr. O.A. Odigwe, who is also a member of the Nigerian Medical Association, Delta State chapter, has reached us and offered the following clarification: that Xinus Medical Diagnostics is located in Asaba, Delta State and did not at any time issue any report to Blessing Okoro.

“The centre was contacted in May 2025 by a doctor from a private hospital in Asaba to do a confirmatory test on a possible case of breast cancer for a patient, Mbara Deborah. The test was done and the result issued to the referring doctor as a case of breast cancer on May 9, 2025.

“A copy of that result is the one currently being circulated online by the law firm, Allen Juris Law, with the name Mbara Deborah as the patient. That result from the law firm is the original version issued to the patient through her hospital.”

The NMA said the clarification became necessary because of the way the altered report was allegedly being used to solicit public sympathy and financial assistance.

It urged the public to be cautious and warned against actions that could tarnish the integrity of medical professionals.

The association also called on relevant security agencies to take appropriate steps to protect unsuspecting members of the public.

“The integrity of our association and its members is very paramount and should not therefore be taken for granted.

“We call on the authorities responsible for maintaining law and order to do the needful and save unsuspecting members of the public from being unduly taken advantage of,” it added.

Recall that Blessing CEO recently solicited financial help from the public for the treatment of what she claimed was stage four cancer.

Following widespread backlash and allegations that her medical report had been edited, she made a U-turn, stating in an interview: “I don’t have stage 4 cancer. That was a miscommunication.”

Continue Reading

News

Abuja Court Jails Boko Haram Food Supplier, Hamatu Modu For 40 Years

Published

on

By

Justice Binta Fatima Nyako of the Federal High Court in Abuja has sentenced Hamatu Modu, a major food supplier for Boko Haram terrorists, to 40 years imprisonment for his involvement in terrorism activities.

Modu, who confessed in the open court to supplying food items and information to terrorists, was put on trial by the federal government through the Attorney General of the Federation and Minister of Justice.

He was slammed with 4- count charges and instantly pleaded guilty to them.

The Director of the Public Prosecution of the Federation, DPPF, Rotimi Oyedepo, SAN, led the prosecution.

In his judgment, Justice Nyako sentenced him to 10 years on each of the count but due to the plea of the defense counsel, the judge ordered that the 40 years imprisonment should run concurrently, giving the convict opportunity to spend only 10 years.

In another development, Isah Ali, another food supplier also in Borno, was jailed 10 years by Justice Nyako.

His jail term will, however, start three years ago when he was arrested and clamped into detention.

The convict confessed to committing the offence as charged.

Justice Nyako ordered that the convicts be made to undergo rehabilitation and radicalization at the end of their service of the jail terms.

The Federal Ministry of Interior was ordered to determine where the two men will serve their jail terms.

Continue Reading

News

Just In: Kebbi Assembly Speaker Muhammad Ankwai Passes Away

Published

on

By

The Speaker of the Kebbi State House of Assembly, Muhammad Usman Ankwai has passed away in the late hours of Monday, 6 April 2026.

Ankwai, who represented Zuru Constituency under the All Progressives Congress (APC), was elected Speaker at the inauguration of the 10th Assembly on June 8, 2023.

Details surrounding the circumstances of his death were not immediately disclosed at the time of filing this report.

His death has, however, triggered an outpouring of condolences from fellow lawmakers, political associates, and residents across Kebbi State, many of whom have described him as a dedicated public servant who contributed to legislative development in the state.

Further announcements regarding burial arrangements are expected to be made by his family soon.

 

Continue Reading

Trending