Nigeria Mandates Tax, National ID Linkage for Crypto Transactions

Nigeria has introduced new rules requiring all cryptocurrency transactions to be tied to verified tax and identity records, marking a shift in how the country regulates digital assets.

From January 1, crypto service providers must ensure users link transactions to their Tax Identification Numbers and, for individuals, National Identification Numbers, in line with provisions of the Nigeria Tax Administration Act 2025.

The framework compels virtual asset service providers to submit detailed transaction records alongside customer identity information, while granting authorities broader powers to request data and enforce extended record retention.

Officials say the move strengthens compliance, addresses loopholes that undermined earlier crypto taxation efforts, and places Nigeria within a growing global system of identity-based crypto reporting standards.