Nigeria ties crypto reporting to TINs and NINs in tax overhaul
Nigeria has introduced a new cryptocurrency oversight framework anchored in tax and national identity systems rather than blockchain monitoring, as part of a broad tax reform. Under the Nigeria Tax Administration Act (NTAA) 2025, effective Jan. 1, crypto service providers must associate transactions with Tax Identification Numbers (TINs) and, where applicable, National Identification Numbers (NINs).
By shifting identity disclosure to the reporting layer, authorities aim to make digital asset activity visible to tax officials without directly surveilling blockchain infrastructure. The approach enables transactions that were previously difficult to attribute to individuals to be matched against income declarations, tax filings and historical records.
Identity-linked reporting replaces on-chain monitoring
Under the new rules, virtual asset service providers (VASPs) operating in Nigeria must file periodic returns with tax authorities that detail the nature and value of digital asset transactions that they facilitate. These reports must include customer identification data, such as names, contact information and tax IDs, with NINs required for individual users where applicable under Nigeria’s identity laws.
The law authorizes tax authorities to request additional information from service providers and requires long-term retention of transaction and customer records. VASPs are also mandated to share relevant transaction data with tax authorities and financial intelligence units, extending existing anti-money laundering reporting obligations.
For local regulators, the framework provides a practical alternative to blockchain analytics, which can be technically complex and costly. By linking compliance to tax and identity systems, authorities can monitor crypto flows as they move through regulated entities.
The reforms are intended to address enforcement gaps in earlier legislation. According to TechCabal, Nigeria introduced a tax on crypto profits in 2022, but compliance was inconsistent due to difficulties linking trades to identifiable taxpayers. The mandatory use of TINs and NINs is designed to close this gap.
A global shift in crypto tax enforcement
Nigeria’s model aligns with an international trend toward identity-based crypto reporting. The NTAA is consistent with the Organization for Economic Co-operation and Development’s Crypto-Asset Reporting Framework (CARF), which also took effect on Jan. 1.
According to the OECD, Nigeria is among a second cohort of countries committed to implementing the global framework by 2028. The move signals Nigeria’s intent to integrate into the emerging cross-border reporting network.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
