Nigeria to Track Crypto Transactions Using National Identification Numbers and Tax Records

Nigeria to Track Crypto Transactions Using National Ident... The Nigerian government is planning to track crypto transactions in real-time, using Tax Identification Numbers (TINs) and National Identification Numbers (NINs). The post Nigeria to Track Crypto Transactions Using National Identification Numbers and Tax Records appeared first on Cryptonews. Nigeria has revealed new tax law mechanisms that could eventually make cryptocurrencies traceable using national IDs.The Nigerian Tax Administration Act (NTAA) 2025 noted that the government is planning to track crypto transactions in real-time, using Tax Identification Numbers (TINs) and National Identification Numbers (NINs).Per a report by TechCabal, the method will make it easy for tax authorities to track largely invisible crypto transactions without directly accessing the blockchain itself. By linking it to national IDs, crypto flows can be matched with income declarations and tax records, the report added.Linking National IDs to Crypto Transfers âEUR" HereâEUR(TM)s WhyThe West African nation has mandated crypto exchanges and service providers to collect and report their clientsâEUR(TM) TINs and NINs, expanding its identity tracing system to the crypto ecosystem.TIN is a unique identification number issued by the Nigerian Revenue Service and the Joint Tax Commission to track tax compliance and enforcement of individuals and businesses. Meanwhile, NIN links personal identification information to biometric data such as fingerprints and face-scanners in the national identity database. Nigeria has passed a new tax law linking crypto transactions to identities via Tax Identification Numbers (TIN) and National Identity Numbers (NIN), ensuring traceability for tax purposes without compromising blockchain security. VASP are required to collect user detailsâEUR¦- Wu Blockchain (@WuBlockchain) January 13, 2026 With the current tax law, authorities can track crypto flows from exchanges to individuals and reported income. This is done without building complex blockchain surveillance infrastructure, it noted.NigeriaâEUR(TM)s financial regulator announced last year that it is considering a bill to include crypto taxation in its regulatory framework.Besides, NigeriaâEUR(TM)s approach aligns with developments under the Crypto-Asset Reporting Framework (CARF), an OECD initiative for global tax transparency.Nigeria Leads in Crypto AdoptionNigeria has become one of AfricaâEUR(TM)s top cryptocurrency adopters again, per ChainalysisâEUR(TM) 2025 Global Adoption Index. The nationâEUR(TM)s crypto market is estimated to have gained $92.1 billion in value between July 2024 and June 2025.Furthermore, the Central Bank of Nigeria (CBN) has recently formed a new task force to explore the adoption of stablecoins. The move comes amid sluggish adoption of the countryâEUR(TM)s digital currency, the eNaira, and growing public skepticism toward its performance.The post Nigeria to Track Crypto Transactions Using National Identification Numbers and Tax Records appeared first on Cryptonews. Market Context The cryptocurrency market remains highly dynamic, with digital assets experiencing significant price movements driven by institutional adoption, regulatory developments, and technological innovations. Investors should consider both the potential rewards and risks associated with crypto investments. Key Takeaways Stay updated on cryptocurrency market developments and price movements Monitor regulatory news that could impact digital asset valuations Consider risk management strategies for volatile crypto investments Published: January 13, 2026 | Source: CryptoNews