Nigeria to Track Crypto Transactions Using National Identification Numbers and Tax Records
Nigeria has revealed new tax legislation mechanisms that might ultimately make cryptocurrencies traceable utilizing nationwide IDs.
The Nigerian Tax Administration Act (NTAA) 2025 famous that the federal government is planning to monitor crypto transactions in real-time, utilizing Tax Identification Numbers (TINs) and National Identification Numbers (NINs).
Per a report by TechCabal, the tactic will make it simple for tax authorities to monitor largely invisible crypto transactions with out instantly accessing the blockchain itself. By linking it to nationwide IDs, crypto flows could be matched with revenue declarations and tax information, the report added.
Linking National IDs to Crypto Transfers – Here’s Why
The West African nation has mandated crypto exchanges and service suppliers to acquire and report their shoppers’ TINs and NINs, increasing its identification tracing system to the crypto ecosystem.
TIN is a singular identification quantity issued by the Nigerian Revenue Service and the Joint Tax Commission to monitor tax compliance and enforcement of people and companies. Meanwhile, NIN hyperlinks private identification data to biometric information akin to fingerprints and face-scanners within the nationwide identification database.
With the present tax legislation, authorities can monitor crypto flows from exchanges to people and reported revenue. This is completed with out constructing complicated blockchain surveillance infrastructure, it famous.
Nigeria’s monetary regulator announced last year that it’s contemplating a invoice to embody crypto taxation in its regulatory framework.
Besides, Nigeria’s method aligns with developments below the Crypto-Asset Reporting Framework (CARF), an OECD initiative for international tax transparency.
Nigeria Leads in Crypto Adoption
Nigeria has turn out to be one among Africa’s high cryptocurrency adopters once more, per Chainalysis’ 2025 Global Adoption Index. The nation’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 discover the adoption of stablecoins. The transfer comes amid sluggish adoption of the nation’s digital forex, the eNaira, and rising public skepticism towards its efficiency.
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