Nigeria — crypto regulation

Status: partial · Last reviewed 2026-11-05

Africa's largest crypto market by volume. The Investments and Securities Act 2025 (signed Mar 2025) classes virtual and digital assets as securities under SEC Nigeria, which registers platforms through its ARIP programme and in Aug 2026 consulted on new digital asset rules with a ₦2 billion minimum capital for exchanges and custodians. From Jan 2026 the Nigeria Tax Act 2025 taxes crypto gains as income (up to 25% for individuals, 30% for companies), and the Nigeria Revenue Service issued crypto tax guidelines in Aug 2026. CBN lifted its 2021 banking ban in Dec 2023. Binance's tax evasion trial is paused while it negotiates a settlement with the government.

Legislation

• SEC Nigeria Circular No. 26-1 — Revised Minimum Capital Requirements for Digital Asset Operators (2026)
• Nigeria Tax Administration Act 2025 — VASP reporting obligations (2025)
• Investments and Securities Act 2025 (2025)
• Nigeria Tax Act 2025 — Taxation of Digital and Virtual Assets (2025)
• SEC Nigeria — Draft Rules on Digital Asset Operations (2026 consultation) (2026)
• SEC Nigeria — Rules on Issuance, Offering Platforms and Custody of Digital Assets (2022)
• CBN Circular — Reversal of Crypto Banking Ban (2023)
• Finance Act 2023 — Digital Asset Taxation (2023)
• SEC Nigeria — Accelerated Regulatory Incubation Program (ARIP) (2024)