Friday, 05 March, 2021

FG Considers Bill to Regulate Bitcoin, e-Currency


The Attorney General of the Federation, Abubakar Malami has disclosed that the Ministry of Justice currently has bills in the National Assembly to provide a legislative framework for digital currency.

Malami disclosed this while declaring open a capacity building workshop and interactive session with Judiciary Correspondents in Abuja on Tuesday.

He stated that the bills include; electronic transaction, electronic evidence act, digital management act and electronic banking act.

He said that the new bills will further build on the success of the stamp duty act which according to him has increased stamp duty revenue from “mere total of N22 billion over the years to N66 billion within the last six months of the amendment of the act.”

The AGF noted that “There are several other acts to regulate emerging digital financial sub-sector of the economy.

“The expected bills will prepare Nigeria for emerging realities relating to digital cash, bitcoin and e-currency.”

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