#Nigerian crypto tax move is ‘premature’ – local stakeholders

The Finance Act, 2023, which was signed into law on May 28 has been implemented, according to comments made by #ObinnaIwunna, president of the #Stakeholders in Blockchain Technology Association of Nigeria (#SIBAN ). Iwunna asserts that the law's hastily enacted nature will make its successful application difficult.

The act contains a number of #tax adjustments intended to update the nation's budgetary structure. A 10% tax on gains from the sale of digital assets, such as cryptocurrency, was one of its stipulations.