Chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji, has challenged tax administrators in Africa to look inwards for local solutions to challenges rather than turning to the Western world for salvation.

Adedeji, according to a statement by his Special Adviser on Media, Dare Adekanmbi, spoke at a three-day council meeting of African Tax Administration Forum, ATAF, hosted by FIRS and held in Lagos.

Headquartered in Pretoria, South Africa, ATAF is an international organisation established in 2009 to provide a common platform for African tax administrators to build capacity, achieve revenue objectives and advance the role of taxation in African governance and state building.

The FIRS chairman, who is the President of the Commonwealth Association of Tax Administrators, CATA, said practicable solutions to address the challenges confronting the continent, particularly in the area of local resource mobilisation, could “only come from wearers who know where the shoe pinches”.

Adedeji urged member countries to take ATAF matters seriously and abide by the rules set.

He stressed that the success of continental body depends on collective efforts to showcase the best Africa has to offer.

“The problem of Africa can only be sincerely solved by Africans. I charge you all to redouble efforts to make sure we prioritise the activities of ATAF.

“In Nigeria, we are giving you our commitment that we will prioritise anything that has to do with ATAF, recognising that solutions to our challenges reside with us in Africa. Nobody can tell our stories better than ourselves. We cannot continue to rely on solutions from platforms that are not indigenous to us.

“We must ensure the sustainability of the organisation and uphold the tenets of ATAF founding agreement and rules and be committed to abiding by them in our decision-making processes.

“The management of the secretariat is also vital to the success of the organisation, and we must prioritise the process of a smooth transition in this meeting, as the term of the current Executive Secretary comes to an end in March 2025 when Mr Logan Wort will have served for 16 years of meritorious efforts. Nigeria joins the rest of ATAF members to applaud and honour Mr Wort,” the FIRS chairman said.

The Federal Government has disclosed plans to delist the Naira from all peer-to-peer, P2P, platforms.

The Director General of the Securities and Exchange Commission, Emomotimi Agama, disclosed this during a virtual meeting with blockchain stakeholders on Monday.

This decision aims to tackle the manipulation of the local currency’s value in the foreign exchange market.

The country’s regulatory authorities have been investigating and scrutinising cryptocurrency exchanges in recent months.

On March 8, the biggest cryptocurrency exchange, Binance, stopped its Naira services.