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Nigeria Revenue Service directed crypto exchanges and VASPs to demand a valid Tax ID before activating any customer accountThe requirement is part of new guidelines on taxing virtual assets, covering crypto, stablecoins, and tokenised assetsMedium and large crypto firms face a 30% corporate income tax on profits under the Nigeria Tax Act, 2025
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigeria Revenue Service (NRS) has ordered cryptocurrency exchanges and other Virtual Asset Service Providers (VASPs) to collect a valid Tax Identification Number from customers as a condition for opening accounts on their platforms.
The directive comes from the Guidelines on the Taxation of Virtual Assets, which the NRS published on Monday, August 3 as part of a new regulatory framework covering cryptocurrencies, stablecoins, tokenised assets and other digital assets.
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