Nigeria’s Digital Currency Will Help Combat Tax Evasion – CITN

The President of the Chartered Institute of Taxation of Nigeria, Adesina Adedayo has said that Nigeria’s digital currency, eNaira will help in reducing tax evasion. Information Guide Nigeria

POLITICS NIGERIA reports that the president said this at a webinar organised by the Chartered Institute of Taxation of Nigeria.

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Adedayo said, “With the implementation of the eNaira, it is expected that ultimately, tax evasion will be minimal as it seeks to ensure the traceability of tax assets and enforces transparency in the taxation system, thereby increasing government revenue.”

The Central Bank of Nigeria regulates the digital currency, eNaira. According to the government, eNaira would provide a fast, safe, and simple transaction to citizens of Nigerian.

According to POLITICS NIGERIA, CITN Taxation Faculties Coordinator, Dean Dr Mark Abani, the institute’s latest priority is to educate the public about the importance of using eNaira in their transactional activities.

Dr Abani emphasised that eNaira would add $29 billion to the Gross Domestic Product of Nigeria over the next decade. Jamb Result

According to him, he noted the government’s optimism that the adoption of the eNaira would improve commerce and financial inclusion in Nigeria.