Nigeria Plans to Track $92B Crypto Market Using National ID and Tax Numbers
Nigeria’s new tax law framework under the Nigerian Tax Administration Act (NTAA) 2025 aims to make cryptocurrency transactions...
Quick overview
- Nigeria's NTAA 2025 framework aims to trace cryptocurrency transactions by linking Tax Identification Numbers (TINs) and National Identification Numbers (NINs) to crypto activity.
- Crypto exchanges must collect clients' TINs and NINs, allowing authorities to monitor transactions and ensure tax compliance without direct blockchain access.
- The country's crypto market grew by $92.1 billion from July 2024 to June 2025, reflecting Nigeria's leadership in cryptocurrency adoption in Africa.
- The Central Bank of Nigeria is exploring stablecoin adoption to enhance the integration of crypto into the financial system amid public skepticism of the eNaira.
Nigeria’s new tax law framework under the Nigerian Tax Administration Act (NTAA) 2025 aims to make cryptocurrency transactions traceable using national identification. By linking Tax Identification Numbers (TINs) and National Identification Numbers (NINs) to crypto activity, authorities can monitor transactions in real-time without directly accessing blockchain data.
TechCabal reports that this approach enables tax authorities to match crypto flows with income declarations, simplifying compliance enforcement while avoiding complex blockchain surveillance systems.
- NTAA 2025 enables real-time crypto tracking
- Uses TIN and NIN for identity verification
- No direct blockchain access required
How National IDs Integrate With Crypto
Crypto exchanges and service providers in Nigeria are now required to collect clients’ TINs and NINs. The TIN, issued by the Nigerian Revenue Service and Joint Tax Commission, ensures tax compliance for individuals and businesses. The NIN links biometric data—fingerprints and facial scans—to personal identification information.
This system allows authorities to trace crypto transactions from exchanges to individual accounts, cross-referencing them with reported income and tax records. The measure aligns with Nigeria’s earlier regulatory considerations and reflects global trends under the OECD’s Crypto-Asset Reporting Framework (CARF), aimed at improving tax transparency across borders.
- Exchanges must report client TINs and NINs
- NIN connects personal identity to biometrics
- Aligns with OECD CARF transparency standards
Nigeria’s Crypto Market Growth
Nigeria continues to lead Africa in cryptocurrency adoption. According to Chainalysis’ 2025 Global Adoption Index, the country’s crypto market grew by an estimated $92.1 billion between July 2024 and June 2025.
To support this ecosystem, the Central Bank of Nigeria (CBN) established a task force exploring stablecoin adoption, responding to the slow uptake of the eNaira and public skepticism regarding its effectiveness. Nigeria’s proactive regulatory measures reflect an effort to integrate crypto into mainstream financial and tax systems while maintaining oversight.
- 2025 crypto market value: $92.1B
- CBN explores stablecoin adoption
- Measures aim to boost compliance and oversight
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