Zainab Ahmed

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Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions

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A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa, which already levy taxes on digital asset transactions. Extracting More Revenue … Read more

After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’

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Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime in May 2021. Instead, she attributes the naira’s fall to the “volatility in the oil price.” Ahmed’s remarks come just a few weeks after the official naira exchange rate dropped … Read more

Nigeria Money Printing Controvesy: CBN Governor’s Remarks Attacked, Government Denies It Financed Deficit via Money Printing

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The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In the latest twist, the opposition People’s Democratic Party (PDP) vice-chairman Dan Orbih said the CBN governor Godwin Emefiele’s response to the allegations is “politically motivated.” … Read more