2026 Outlook: Tax Reform Update and Trading Investment Plan Communication
Dear Valued Clients and Esteemed Investors,
We extend our sincere appreciation to you for your continued trust, cooperation, and partnership with Akinyele Oluwale & Co. Your confidence and commitment remain fundamental to our ability to serve you effectively across our tax advisory and trading investment plan engagements.
Tax Reform Update
We commend our clients for their consistent fulfillment of tax obligations and their contribution to Nigeria’s socio-economic development during the last fiscal year. Your compliance—whether as corporate entities or individual taxpayers—plays a critical role in national growth, infrastructure development, and public service delivery.
As we transition into 2026, Nigeria’s ongoing Tax Reform agenda is aimed at building a fairer, simpler, and more growth-oriented tax system. Key developments include enhanced tax administration through expanded digital platforms, the transition from FIRS to the Nigeria Revenue Service (NRS), reduced compliance burdens, and improved taxpayer services. Importantly, the reforms prioritize broadening the tax base rather than increasing tax rates, encouraging voluntary compliance, and strengthening transparency and accountability in tax revenue utilization.
Corporate taxpayers continue to benefit from reforms that support ease of doing business, clearer regulatory guidance, and incentives for investment and job creation. Individual taxpayers equally benefit from improved taxpayer identification systems, balanced enforcement mechanisms, and increased taxpayer education and awareness.
We remain fully committed to keeping you informed, compliant, and strategically positioned under the evolving tax landscape.
Trading Investment Plan Update
Reflecting on the 2025 financial year, we sincerely appreciate your patience, trust, and confidence in our investment operations. The year presented significant global and local market challenges that impacted financial markets broadly. These conditions contributed to the delayed and, in some instances, failed payouts experienced during the period.
We wish to clearly reaffirm that these setbacks were driven by market conditions and not by any lack of commitment, integrity, or operational diligence on our part.
Looking ahead to 2026, we remain firmly focused on stabilizing operations and addressing outstanding payout obligations. Strategic measures are already being implemented to mitigate market risks, strengthen performance, and enhance resilience. We are confident that these steps will support improved outcomes in the near term.
We deeply value your partnership and remain committed to transparency, accountability, and sustainable long-term growth.
Thank you for your continued support as we move forward together.
Yours faithfully,
Akinyele Oluwale & Co.
The increasing partnership between traditional finance and blockchain companies like Ripple is propelling Europe’s progress in adopting digital assets. On October 10, Ripple’s Managing Director for the U.K. and Europe, Cassie Craddock, shared on the social media platform X that the European Union’s Markets in Crypto-Assets Regulation (MiCA) has bolstered institutional trust in blockchain integration.
"MiCA has empowered European banks and financial institutions [FIs] to engage more deeply with the industry," Craddock stated, further adding:
Consequently, we are witnessing numerous banks and FIs, including Societe Generale and BBVA, developing digital asset custody and tokenization capabilities in collaboration with crypto-native firms like Ripple.
Nevertheless, she pointed out that despite these advancements, "many obstacles still exist to realize the full potential."
Craddock elaborated that tokenization aligns with the European Union’s objectives for a savings and investment union by reducing costs, enhancing efficiency, and broadening access to funding and investment opportunities for businesses.
She warned that global rivals are swiftly moving to leverage blockchain innovation and urged the EU to "act quickly and sustain the momentum" to preserve its competitive edge. The Ripple executive expressed:
We are genuinely enthusiastic about the prospects for the blockchain sector in Europe and eager to contribute to shaping the future of tokenization.
Her remarks underscore both a sense of optimism and a call to action as Europe aims to strengthen its position in digital finance through the regulatory clarity provided by MiCA and collaborative efforts within the industry.
