Nigeria Introduces New Tax Law to Track Crypto Transactions Using TIN and NIN

Highlights:

• The Nigerian federal government has introduced mandatory crypto transaction reporting systems.
• The government also plans to tax digital assets as part of efforts to salvage its economy.
• Crypto wallet handlers must submit either a TIN or an NIN under the country’s new tax act.

Nigeria has introduced new systems to make crypto transactions traceable under the nation’s Tax Administration Act (NTAA) 2025. According to a local news outlet, the government rolled out a mandatory linking of cryptocurrency accounts to either a Tax Identification Number (TIN) or a National Identification Number (NIN). This will help the government to easily track crypto activities without directly monitoring the blockchain. 

For many years, tax authorities have struggled to track cryptocurrency transactions, as crypto wallets do not easily point to real names. However, the trend is about to change with NIN or TIN linking. Once a cryptocurrency account is linked, tax officers will be able to match transactions against income reports and tax returns. With this, the government can also monitor how money moves from crypto platforms into the nation’s formal economy.  

Nigeria has passed a new tax law linking crypto transactions to identities via Tax Identification Numbers (TIN) and National Identity Numbers (NIN), ensuring traceability for tax purposes without compromising blockchain security. VASP are required to collect user details…

— Wu Blockchain (@WuBlockchain) January 13, 2026

Nigeria’s New Tax Law Aligns with Global Standards

Globally, many countries are introducing measures that ensure transparent crypto transactions. The Organization for Economic Co-operation and Development (OECD) designed the Crypto Asset Reporting Framework (CARF) to reduce tax evasion by allowing tax authorities to collect crypto transaction data linked to local and overseas investors. 

The United Kingdom has already adopted the reporting system, mandating crypto platforms to report customers’ full details, including full name, date of birth, national insurance number or taxpayer reference, and tax numbers for non-residents. Nigeria is now moving in the same direction with the NIN and TIN systems. 

Under the NTAA, crypto platforms began filing monthly tax returns in 2025. The report must contain information on the type of service rendered, transaction date, type, and value of the digital asset. Other important information centres around customer details, including name, address, phone number, email, TIN, and NIN for individuals.

Aside from the above information, crypto firms must provide details of any other party involved in a transaction. Additionally, they must report large or suspicious transactions to tax offices and the Nigerian Financial Intelligence Unit, bringing crypto under the nation’s full anti-money laundering regulations. Crypto platforms must also store customer records and transaction data for at least seven years.   

Nigeria’s crypto tax enforcement is tightening in 2026.

Many onchain teams don’t have clean payroll records ready when auditors ask.

We saw this first hand after teams asked how we can help them stay tax-ready while paying in USDC.

Thread: Why invoices aren’t optional anymore… pic.twitter.com/evLKTb2Pq7

— Paynest (@Paynest_) January 7, 2026

Government Targets Increased Tax Revenue with New Law

Issued by the Nigeria Revenue Service, TIN is used to track tax payments and compliance. On the other hand, the NIN is linked to citizens’ personal data, such as fingerprints and facial records, all stored in the country’s identity database. TIN is generated from NIN, which means that crypto platforms could request both numbers to link individuals’ and companies’ cryptocurrency activity to their tax history. 

Overall, the move will expand Nigeria’s existing identity system into the digital asset space. In the last two years alone, Nigeria’s crypto market processed over $90 billion in transactions. The nation is currently one of the fastest-growing crypto spaces, underscoring the need for stronger government oversight.

The Nigerian government plans to increase taxes as a share of GDP from below 10% to 18% by 2027. This move becomes necessary as the oil sector is gradually becoming less reliable. This will not be the first time the Nigerian government has attempted to tax digital assets. The Finance Act 2022 introduced a 10% tax on crypto gains. However, enforcement failed because it was difficult to link crypto wallets to individuals.