Nigeria enacts compulsory tax identification measures for crypto transactions

The Nigerian government mandates taxpayer identification numbers (TINs) and national identification numbers (NINs) for all cryptocurrency transactions starting January 1, 2026

This initiative, part of the Nigerian Tax Administration Act of 2025, aims to formalize the cryptocurrency economy, enhancing transparency and traceability.

Registered exchanges must comply with stringent data collection regulations or face substantial penalties, including a 10 million Naira fine for first-month non-reporting.