Nigeria Crypto Tax Law 2026 Update: TIN and NIN to Crypto Transactions

Nigeria crypto Tax law 2026 Summary, Market Impact And Growth Outlook

Key Highlights

• A Nigeria crypto Tax Law 2026 is enacted that connects transactions to TIN and NIN.

• Cryptocurrency exchanges will be required to provide monthly reports to the tax authorities.

• The country is brought into line with international standards of taxation, such as OECD CARF.

Nigeria Crypto Laws 2026 Update

A new taxation framework under the Nigerian Tax Administration Act (NTAA) 2025 has been passed to regulate digital assets. The law provides a system through which the government can legally monitor, document, and tax cryptocurrency transactions by associating them with Tax Identification Numbers (TINs) and National Identification Numbers (NINs).

Instead of trying to directly track the activities of blockchains, the country will trace activity at the service provider level, which will be transparent without interfering with the security of blockchains. This is one of the greatest changes in the digital regulation of finance in Nigeria.

Within the new framework, the Virtual Asset Service Providers (VASPs) will be required to be registered by the tax authorities and report on a strict basis. These consist of compulsory Know Your Customer (KYC) procedures and the identity check based on TIN and NIN information.

The VASPs are also expected to keep records of transactions and customer identities for at least seven years. These Nigerian crypto tax laws details significantly raise compliance and operational costs. Failure to comply will be severely punished with a fine of up to N10 million and a possible revocation of the license, which will solidify the strict regulatory position.

Source: Wu Blockchain

Nigeria Crypto Market Size

Nigeria is also among the most rapidly developing crypto markets in the world. The Nigeria cryptocurrency market is estimated to have registered a transaction value of $92.1 billion within the period of July 2024 and June 2025. 

Although this number reflects the aggregate amount of transactions and not profits, even partial taxation would open up a lot of government revenue.

As the nation tries to raise its tax-to-GDP ratio from less than 10% to 18% by 2027 in a bid to diversify its economy, which relies on oil, cryptocurrency taxation is a strategic consideration as the country seeks alternative revenue streams. It is clear why Nigeria seeks to tax cryptocurrency transactions as part of a broader fiscal strategy.

What Is the Purpose of the Law?

The main idea of the legislation is to introduce cryptocurrency activity into the formal taxation system. With the connection of cryptocurrency transactions to TINs and NINs, the authorities can now compare the digital asset income with the reported earnings, which curbs tax evasion.

This framework turns crypto into a transparent, auditable activity and forms the foundation of the Nigeria crypto tax summary 2026, without requiring complex blockchain surveillance tools.

What are the Reporting Requirements? Who does It Mainly affect?

Beginning in 2025, VASPs will be required to provide monthly transaction reports, which include:

• Categories and kinds of cryptocurrency assets.

• Dates and values of transactions and sales.

• The information about the customer identity (name, address, email, phone, TIN, NIN).

• Counterparty information

The Nigerian Financial Intelligence Unit (NFIU) should also be notified of large or suspicious transactions. The legislation mostly impacts cryptocurrency exchanges, digital asset platforms, brokers, and high-volume Nigerian traders.

The Compliance of this Law with International Standards?

The action is in line with the international standards, such as the Crypto Asset Reporting Framework (CARF) of the OECD, which will come into force on January 1, 2026. 

Like in the UK and EU, now Nigeria has made service providers collect and report taxpayer identity information, which places the country in the new global crypto compliance order.

Impact on the Markets

Though the law is enhancing the legitimacy and investor confidence, it has provoked privacy concerns and escalated compliance expenses. Smaller platforms might not cope, which could hasten the process of market consolidation. 

Nonetheless, more stringent laws would be able to draw institutional investors and promote long-term Nigeria crypto adoption.

Conclusive Remarks

The new law is a historic change in the regulation of digital assets. The government has already established a framework of transparent and enforceable taxation by legally connecting transactions to real identities by requiring the use of TIN and NIN. 

Disclosure: This is not a financial recommendation. Do your own research, then invest. There is no financial loss incurred by CoinGabbar. Cryptocurrencies are extremely unstable, and you may lose all your money.