By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: FG to Tax Cryptos, Other Digital Assets
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | FG to Tax Cryptos, Other Digital Assets

News

FG to Tax Cryptos, Other Digital Assets

Tapre Timine
Tapre Timine
Published: June 14, 2025
Last updated: June 14, 2025
3 Min Read
Share
FG to Tax Cryptos, Other Digital Assets | Daily Report Nigeria
SHARE

Finance minister, Zainab Ahmed has said that the 2022 finance bill contains a provision to tax cryptocurrencies and other digital assets.

Ahmed updated the National Economic Council on the key aspects of the 2022 finance bill at a virtual emergency meeting on Thursday.

This was according to a statement by Laolu Akande, Vice President Yemi Osinbajo’s media aide.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

The minister stated that the proposed bill explained how cryptocurrencies and other digital assets would be taxed in keeping with the government’s strategic goal of increasing cross-border and international taxation of expanding e-commerce with emerging countries.

The statement read:

“For instance, under the Tax Equity pillar, all sectors of the economy would be brought into the tax net including Capital Gains Tax from digital assets, cable undertakings, lottery and gaming business.

“Under the pillar of Tax Incentives’ Reforms, there would be new deductions for Research and Development, and Investment Tax Credits; Reconstruction Investment Allowance; Rural Investment Allowance; Incomes in Convertible Currencies to be exempt, among others.”

She explained that the proposed measure would be based on five essential policy pillars (climate change, tax equity, job creation/economic growth, reform of tax incentives, and revenue generation/tax administration).

She stated that the measure aimed to update pertinent tax, excise, and duty statutes following the federal government’s revisions to its macroeconomic policies.

The finance minister further revealed that the measure would reform and add to the existing provisions of particular laws on the federation’s public financial management.

Other elements of the finance bill include chargeable assets, the exclusion of losses, and the replacement of corporate assets.

This follows despite the placing of restrictions on cryptocurrency transactions in Nigeria.

In 2021, the Central Bank of Nigeria (CBN) ordered banks to close the accounts of people and organisations using their systems to deal in cryptocurrencies.

The bank regulators warned people to avoid investing in cryptocurrencies, claiming such tradings are frequently used to finance nefarious activities.

READ ALSO: How Oil-producing States Shared N625bn 13 Percent Derivation – FG☞

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

9mobile Rebrands as T2, Sets Sights on Digital-First Future | Daily Report Nigeria
9mobile Rebrands as T2, Sets Sights on Digital-First Future
Metro
Woman Murdered by Suspected Fulani Herdsmen in Benue | Daily Report Nigeria
Woman Murdered by Suspected Fulani Herdsmen in Benue
Metro
Katsina Police Rescue Over 50 Kidnap Victims, Recover 229 Rustled Animals | Daily Report Nigeria
Katsina Police Rescue Over 50 Kidnap Victims, Recover 229 Rustled Animals
Metro
Nine People Abducted as Armed Hoodlums Attack Passenger Bus in Kogi | Daily Report Nigeria
Nine People Abducted as Armed Hoodlums Attack Passenger Bus in Kogi
Metro
Ademola Lookman Faces Atalanta Disciplinary Action After Going AWOL | Daily Report Nigeria
Ademola Lookman Faces Atalanta Disciplinary Action After Going AWOL
Sports

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Ghanaian President, Ministers Slash Salaries by 30% to Reduce Spending | Daily Report Nigeria
News

Ghanaian President, Ministers Slash Salaries by 30% to Reduce Spending

June 15, 2025
Nnamdi Kanu’s Release Will Diminish Peter Obi’s Popularity – Ohanaeze | Daily Report Nigeria
News

Nnamdi Kanu’s Release Will Diminish Peter Obi’s Popularity – Ohanaeze

June 14, 2025
Corruption Index: Data Missing In Areas Where Nigeria Performed Well – Lai Mohammed | Daily Report Nigeria
News

Corruption Index: Data Missing In Areas Where Nigeria Performed Well – Lai Mohammed

June 15, 2025
Breaking: Nollywood Actor, Jim Lawson Maduike is Dead | Daily Report Nigeria
News

Breaking: Nollywood Actor, Jim Lawson Maduike is Dead

June 13, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?