Nigeria is grappling with a widening gap between rising cryptocurrency adoption and the readiness of individuals and businesses to comply with tax obligations tied to digital assets.
According to the report, crypto usage continues to expand across the country, yet public awareness of the applicable tax rules remains low. Many participants in the digital asset space appear unaware that crypto transactions may attract tax liabilities under Nigerian law.
This disconnect between adoption trends and compliance preparedness presents a challenge for tax authorities seeking to bring digital asset activity into the formal tax net. The compliance readiness gap underscores the need for greater taxpayer education and clearer regulatory guidance on the taxation of cryptocurrency transactions in Nigeria.
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