Nigeria plans to track cryptocurrency transactions in real time using Tax Identification Numbers and National Identity Numbers
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Nigeria plans to track cryptocurrency transactions in real time using Tax Identification Numbers and National Identity Numbers
According to Cryptonews, Nigeria's newly introduced Tax Administration Act (NTAA 2025) plans to track cryptocurrency transactions in real time using Tax Identification Numbers (TIN) and National Identification Numbers (NIN). The bill requires cryptocurrency exchanges and service providers to collect and report customers' TINs and NINs, thereby extending identity tracking systems into the cryptocurrency ecosystem. By linking national identities to cryptocurrency flows, tax authorities will be able to trace transactions and match them with income declarations and tax records without directly accessing blockchains. Nigeria's move aligns with the OECD's Crypto-Asset Reporting Framework (CARF) initiative. According to the Chainalysis 2025 Global Cryptocurrency Adoption Index, Nigeria has become one of Africa's leading countries in cryptocurrency adoption, with its crypto market estimated to have transacted $92.1 billion between July 2024 and June 2025.
Navigating Web3 tides with focused insightsTechFlow news, January 13 — According to Cryptonews, Nigeria’s newly introduced Tax Administration Act (NTAA 2025) plans to track cryptocurrency transactions in real time using Tax Identification Numbers (TIN) and National Identification Numbers (NIN).
The bill requires cryptocurrency exchanges and service providers to collect and report customers’ TINs and NINs, extending identity tracking systems into the cryptocurrency ecosystem. By linking national identities to cryptocurrency flows, tax authorities will be able to monitor transactions without direct access to blockchains, matching them with income declarations and tax records.
Nigeria’s move aligns with the Organisation for Economic Co-operation and Development (OECD)'s Crypto-Asset Reporting Framework (CARF) initiative. According to the Chainalysis 2025 Global Crypto Adoption Index, Nigeria has emerged as one of Africa’s leading countries in cryptocurrency adoption, with its crypto market estimated to have grown by USD 92.1 billion between July 2024 and June 2025.
