Nigeria’s tax law sets fines and licence risks for crypto providers
Nigeria’s Nigeria Tax Administration Act 2025, signed into law in June and due to take effect in 2026, introduces compliance requirements for virtual asset service providers, according to the report. Non-compliant providers face an initial fine of ₦10 million in the first month and ₦1 million for each further month, while the SEC may suspend or revoke licences.
The provisions could affect crypto providers’ operating costs and licences, including those serving gambling customers.