A global cryptocurrency exchange platform that is adapting to Nigeria's tax regulations.
From 2026, dodging taxes in Nigeria could cost crypto startups their licences — and ₦10m
Nigeria's new tax laws impose an initial penalty of ₦10 million for VASPs failing to comply within the first month. The Securities and Exchange Commission (SEC) can suspend or revoke licenses of non-compliant VASPs.
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Crypto firms refund ₦160 million to FG after indictment for unlicensed USDT-Naira trading
Federal Government recovers ₦160 million from Paparaxy Global Ventures Limited and Lemskin Technologies Limited. Companies charged for conducting financial services without proper licensing.
Nigeria Prepares for Comprehensive Tax Reform, Including Cryptocurrency Regulation
The Nigerian government plans to introduce new tax legislation by September 2024, including regulations for the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) aims to streamline revenue administration and simplify tax laws.
Nigeria to introduce new tax laws regulating cryptocurrency by September 2024
The Nigerian government is set to introduce new tax laws, including regulations for the Nigerian crypto industry, by September 2024. The FIRS plans to overhaul the revenue administration process and simplify tax laws.
