Nigeria to Monitor Crypto Transactions Under New NTAA 2025
Nigeria will monitor cryptocurrency transactions under the Nigeria Tax Administration Act (NTAA) 2025, the government announced, taking a clearer stance on taxing digital-asset activity. The law directs tax authorities to track crypto flows and collect applicable taxes, but officials have not yet published the implementing rules, reporting thresholds, or timelines for enforcement.
The move could curtail informal peer-to-peer trading and remittance channels and increase compliance costs for exchanges and fintech firms that may be required to share customer data. Users and privacy advocates warn of greater surveillance and potential capital flight, while authorities argue tighter oversight will broaden the tax base and help formalize the crypto sector. Market participants are awaiting detailed guidance on reporting obligations and data-protection safeguards.