Virtual-Asset

Business

CBN To Regulate Stablecoins, Virtual Asset Exchanges And Wallet Providers In Nigeria

Ogochukwu Onwaeze, THEWILL -
The guidelines, titled Regulations for the Operations of Non-Security Virtual Assets in Nigeria, establish requirements for the issuance, distribution, conversion, custody, transfer, redemption and settlement of regulated virtual assets.
Business

PwC Warns Nigeria’s New Crypto Tax Rules Could Raise Compliance Costs

Ogochukwu Onwaeze, THEWILL -
PwC says unresolved issues around wallet transfers, asset valuation and withholding tax could complicate compliance. VASPs face extensive reporting and tax-administration duties, with penalties reaching N10 million for the first month of default. The firm says clearer guidance...
Business

PwC Warns Virtual-Asset Traders, Merchants Of Penalties Under NRS Tax Rules

Ogochukwu Onwaeze, THEWILL -
Virtual-asset tax defaulters face a N10 million penalty in the first month and N1 million for every subsequent month, according to PwC’s analysis of the NRS guidelines. Failure to deduct tax at source attracts a 40 percent penalty,...
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Latest News

NewsFelix Ifijeh, THEWILL -

Obasanjo Blames Government Control For Enduring Power Crisis

Former President Olusegun Obasanjo has blamed government control for Nigeria’s persistent electricity crisis, declaring that the country will not resolve its power challenges until the private sector takes control of the energy industry.
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