Nigeria has introduced a new requirement mandating that cryptocurrency transactions be linked to Tax Identification Numbers (TINs) and National Identification Numbers, (NINs).
The policy is aimed at strengthening regulatory oversight, improving tax compliance, and enhancing transparency within the country’s growing digital asset eco-system. Under the new framework, individuals and entities engaging in crypto transactions will be required to provide verifiable identification details.
Officials say the move aligns with broader efforts to formalise the digital economy, curb illicit financial flows, and ensure that crypto-related activities are captured within Nigeria’s tax and financial reporting systems.
The announcement has sparked mixed reactions among crypto users and industry stakeholders, with supporters citing improved regulation and critics raising concerns about privacy and implementation.
Further details on enforcement timelines and compliance guidelines are expected from relevant authorities.
