Nigeria's National Revenue Service (NRS) has introduced a new requirement making tax identification numbers (TIN) mandatory for anyone seeking to activate a new cryptocurrency account in the country.
The directive marks a significant step in the government's ongoing effort to bring digital asset transactions within the formal tax net. Under the new rule, cryptocurrency platforms and exchanges operating in Nigeria must now verify the tax identification status of users before allowing new account activations to proceed.
This development reflects growing regulatory attention on the cryptocurrency sector, which has expanded rapidly across Nigeria in recent years. Authorities have increasingly sought to ensure that gains and transactions arising from digital asset trading are captured for tax purposes.
Further details regarding implementation timelines, penalties for non-compliance, and the precise scope of affected platforms were not immediately available at the time of publication.
