Nigeria | Crypto

The framework specifies how existing tax obligations apply to crypto disposals and rewards, with some withheld amounts payable in the originating token. Nigeria’s revenue agency has issued rules requiring crypto platforms and peer-to-peer (P2P) marketplaces to collect, report and remit taxes, including paying some withheld amounts in digital tokens. In its Guidelines on Taxation of Virtual Assets, the Nigeria Revenue Service (NRS) said income tax deducted at source and stamp duty “shall be remitted to the Service in the originating token of the transaction.” Value-added tax, by contrast, must be remitted in the currency used for the payment.  The guidelines place exchanges and P2P marketplaces at the center of withholding, reporting and remittance under the country’s existing laws. Read more

The crypto brokerage said increasing demand across West Africa is driving its expansion as user activity grows across the Sub-Saharan region. Crypto brokerage company Blockchain.com is expanding into Ghana as part of a broader push to grow its presence across Africa, following rapid user growth in Nigeria over the past year. The company said it plans to offer Ghanaian users access to its trading platform as it builds out regional infrastructure and explores additional African markets. The expansion follows strong growth in Nigeria, where the company launched retail operations last year and reported more than a 700% increase in brokerage transaction volume. According to the company, the most traded assets on its platform in the country have been Bitcoin (BTC), Tether (USDT) and Tron (TRX). Read more

Nigeria’s tax overhaul pulls crypto exchanges into identity-based reporting, reshaping how digital assets are brought into the traditional economy. Nigeria is rolling out a new approach to cryptocurrency oversight that relies on tax and identity systems rather than blockchain surveillance, as part of a sweeping reform of its tax regime. Under Nigeria’s newly implemented tax reforms, crypto service providers are required to link transactions to Tax Identification Numbers (TINs) and, where applicable, National Identification Numbers (NINs).  The framework, which took effect on Jan. 1, is embedded in the Nigeria Tax Administration Act (NTAA) 2025 and marks one of the country's most sweeping tax overhauls.  Read more

The Central Bank of Nigeria has established a working group to assess the potential for an official stablecoin, coming as the country's eNaira digital currency has struggled with low adoption rates and technical issues since its launch. The post Is Nigeria’s eNaira Dead? CBN Forms New Task Force for Official Stablecoin appeared first on Cryptonews.

Nigeria is one of the biggest crypto markets in Africa and among the countries with the highest cryptocurrency adoption globally. Several applications enable locals to sell bitcoin in Nigeria, Ethereum (ETH), USDT, or other digital assets and receive Naira directly into their bank account. In the following lines, we will analyze how users can identify […]

While crypto focuses on US and EU markets, real adoption is happening in Argentina, Nigeria and the Philippines, where digital assets solve survival needs. Opinion by: Maksym Sakharov, group CEO at WeFi The crypto industry has been focused on the same markets: the United States and the European Union. The conversation has mainly concerned regulatory clarity, speculative gains and institutional access, whether Silicon Valley’s venture capital firms or Wall Street’s exchange-traded fund issuers.  Unfortunately, this fixation is blinding much of the industry to a more pressing reality, where the future of crypto adoption isn’t in New York, London or Brussels, but rather in Lagos, Buenos Aires and Manila. Read more

Nigeria’s Securities and Exchange Commission (SEC) has expressed support for stablecoin businesses that operate within the bounds of the country’s digital asset regulations. During the Nigeria Stablecoin Summit held in Lagos, SEC Director-General Emomotimi Agama reportedly said the African country is ready to embrace blockchain-based payment innovations as long as they comply with existing laws. […] The post Nigeria SEC welcomes stablecoin innovation while ensuring compliance appeared first on CryptoSlate.

Nigeria’s SEC Director-General Emomotimi Agama said the country welcomes stablecoin firms, marking a shift toward supportive crypto policy. Nigeria’s Securities and Exchange Commission (SEC) Director-General Emomotimi Agama said the country was open to stablecoin businesses that comply with local regulations. According to a Thursday report by English-language local news outlet, The Cable, Agama said stablecoin companies that complied with local regulations were welcome in Nigeria. “Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he said. “We have onboarded some firms focused on stablecoin applications, all while ensuring compliance with core risk management principles,” Agama said, adding that those companies were admitted through the SEC’s regulatory sandbox. Read more

Tigran Gambaryan, Binance’s head of financial crime compliance, is leaving the exchange after an eight-month legal ordeal in Nigeria. The post Binance Exec Who Was Detained in Nigeria on Money Laundering Allegations Steps Down appeared first on Cryptonews.

Global crypto giant Blockchain.com has announced a bold push into Africa, starting with Nigeria’s first major international crypto office. The post Blockchain.com Launches African Push in Nigeria, Ghana—Is Africa Crypto’s Next Frontier? appeared first on Cryptonews.