FIRS Chairman Announces Upcoming Bill to Restructure Nigeria's Revenue Management System

Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has announced that a bill aimed at restructuring Nigeria's revenue management system is expected to be introduced in parliament next month.

Adedeji made this announcement during a 2024 stakeholders' interaction organized by the Intergovernmental Relations Department of the FIRS, with members of the Senate and House Committees on Finance in attendance. The event's theme was "Repositioning The FIRS To Achieve Its Mandate."

During his speech, Adedeji expressed concern over the absence of legislation governing Nigeria's digital industry, particularly regarding cryptocurrencies. He emphasized the need for legal frameworks to address the growing digital economy and ensure effective revenue management in these emerging sectors.

The proposed bill is expected to address these gaps and provide a more robust structure for managing revenue in Nigeria, particularly in the fast-evolving digital space.