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This is how the Nigerian government will tax your crypto earnings come 2026

This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs and financial institutions. A new edition drops every Monday.  It is no longer news that Nigeria wants to collect tax on crypto proceeds. TechCabal has now learned exactly how it will work. If you spend $2,000 (₦2.93 million) on bitcoin in a year and sell it for $4,000 (₦5.86 million), your gain of $2,000 (₦2.93 million) will be subject to personal income tax. The first ₦800,000 ($545.82) of that profit will be tax-free, and the rest (₦2.13 million/$1,454.18) taxed at 15%, bringing your total payable tax to ₦319,704 ($218.13). "However, if you buy bitcoin at $2,000 (₦2.93 million) and sell iwt for $1,500 (₦2.19 million), you would have made a loss of $500, and under the new tax laws, you will owe nothing. Crypto profits are now subject to personal income tax." “The new law that will take effect in January 2026 will tax you if you make gains ...
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Court rejects alleged terrorists negotiator Tukur Mamu’s third bail application

The Federal High Court in Abuja has once again denied bail to detained alleged terrorist negotiator Tukur Mohammed Mamu, citing sufficient diligence by prosecutors and ongoing national security concerns.   Delivering the ruling on Wednesday, October 22, Justice Mohammed Umar dismissed Mamu’s renewed bail application but directed the Department of State Services (DSS) to ensure that he receives proper medical care at a health facility of his choice.   The judge acknowledged Mamu’s health complaints but ruled that his condition did not justify release from custody, emphasizing that the DSS must take him “to an appropriate health facility where he would be adequately attended to.”   Justice Umar further noted that bail is typically granted when the prosecution fails to demonstrate diligence, but in this case, the Federal Government’s legal team has been “meticulous and consistent” in handling the proceedings.   “One of the conditions for granting bail is where the prose...

Nnamdi Kanu lists Wike, Umahi, Buratai and others as witnesses as he opens defence

  The detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu has informed the court that he is ready to open his defence. The IPOB leader, who had previously filed a motion of preliminary objection challenging the court’s jurisdiction to continue his trial, filed a new motion on Tuesday, October 21, expressing his readiness to begin his defence in line with the court’s earlier directive that proceedings commence on October 24, 2025. This development came just days after a team of medical experts appointed by the court concluded that Kanu was medically fit to stand trial. In his motion, which he personally signed, Kanu told Justice James Omotosho of the Federal High Court that he intended to call 23 witnesses divided into two categories — “ordinary but material witnesses” and “vital and compellable” witnesses to be summoned under Section 232 of the Evidence Act, 2011. Kanu said he would testify on his own behalf, offering a sworn account to deny the allega...

Drama as Katsina man climbs building to express anger after his in-laws took his wife away (video)

  There was tension in the Sabuwar Kofa area of Katsina State on Sunday when a yet-to-be identified man climbed a section of an uncompleted building, perched on the edge and refused to come down after his in-laws allegedly took his wife away. According to a Katsina publication, the man said he would only come down if his in-laws returned his wife.  A video sighted on Facebook shows the man clinging adamantly to the ledge of the building as some residents make an attempt to bring him down.  “Sunday this man climbed the end of this building in Sabuwar Kofa Katsina area, expressing his anger with his in-laws who came to his house and took his wife away. The man said he doesn't come down until he is returned with his wife. He is the one who is videoing him and calling him a thief. He is not a thief, he wants his wife to be returned to him,” the report reads. Watch the video below… https://www.instagram.com/lindaikejiblogofficial/?utm_source=ig_embed&ig_rid=64ede1b5-be4c-4...

10 South Koreans arrested in Cambodia scam crackdown

  Ten South Koreans have been arrested in Cambodia for their alleged involvement in cyberscam operations, while two others were rescued, South Korea’s Foreign Minister Cho Hyun said on Monday, October 20. The arrests came just days after Cambodia repatriated 64 South Koreans accused of participating in large-scale online fraud schemes known as “pig butchering,” where scammers build trust with victims before stealing their money. Cho said the ten suspects were detained last Thursday and would be repatriated this week. He added that efforts were ongoing to locate about 80 South Korean nationals still unaccounted for in Cambodia. According to Seoul’s foreign ministry, around 550 South Koreans have been reported missing or held against their will since last year after traveling to Cambodia. Authorities estimate that roughly 1,000 South Koreans are among some 200,000 people working in the country’s scam networks, many of them forced into the operations under threats of violence. Over th...

Japan approves first over-the-counter ‘morning-after’ pill

  Japan has approved the sale of an over-the-counter contraceptive pill for the first time, marking a major policy shift in the socially conservative country. The pill, Norlevo, produced by ASKA Pharmaceutical, received official manufacturing and marketing approval on Monday, October 20, allowing women to access emergency contraception without a doctor’s prescription. Rights groups have long criticised Japan for requiring women to visit a clinic and obtain a prescription for the morning-after pill, a process that campaigners say deters many, particularly rape victims and teenage girls, from seeking help. The Mainichi Shimbun reported that there will be no age restrictions or parental consent requirements for purchasing the pill. However, it will be classified as “medicine requiring guidance,” meaning women must take it in the presence of a pharmacist. The emergency contraceptive is effective if taken within 72 hours of sex but becomes less reliable over time. Japan began discussing...

Sanction Nnamdi Kanu’s lawyer for participating in protest - Presidential aide Bayo Onanuga

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has called on legal regulatory bodies in Nigeria to sanction one of the lawyers representing the detained IPOB leader, Nnamdi Kanu, Aloy Ejimakor, for participating in the ongoing #FreeNnamdiKanu protest holding in Abuja today October 20. In a post shared on his X handle on Monday, October 20, Onanuga criticised Ejimakor for joining the demonstration organised by human rights activist and former presidential candidate, Omoyele Sowore. According to the presidential aide, Ejimakor’s participation in the protest undermines legal ethics, given that Kanu’s case is still before a competent court. He wrote ‘’ I spotted Aloy Ejimakor, one of Nnamdi Kanu’s lawyers, among the small group of protesters mobilised in Abuja by Omoyele Sowore. I wonder what Mr. Ejimakor was thinking when he decided to join this shambolic protest. As a lawyer, he should be aware of the principle of sub judice, parti...