Nigeria Strengthens Crypto Tax Oversight with TIN and NIN Linkage
Nigeria's tax authorities are tightening their grip on cryptocurrency transactions through the Nigeria Tax Administration Act (NTAA) 2025. The legislation mandates the linkage of crypto activities to Tax Identification Numbers (TINs) and National Identification Numbers (NINs), aiming to curb tax evasion and ensure proper taxation of digital asset income.
Crypto platforms operating in Nigeria must now collect and report detailed user information, including names, contact details, TINs, and NINs. Monthly reports to tax authorities will include transaction specifics such as asset types and values. The law also grants authorities the power to request additional data from exchanges at any time.
The NTAA 2025 aligns with global tax frameworks like the OECD's Crypto-Asset Reporting Framework, signaling Nigeria's commitment to international compliance standards. This MOVE reflects a broader trend of governments seeking to regulate the crypto space while maintaining its growth potential.