New Law: Nigeria to Monitor Cryptocurrency Transactions Using NIN and Tax Records

Nigeria introduces new tax laws allowing authorities to track cryptocurrency transactions using National Identification Numbers (NIN) and Tax Identification Numbers (TIN) in real time.

Nigeria has revealed new tax law provisions that could potentially enable the use of national IDs for tracking cryptocurrency transactions. Without having direct access to the blockchain, the new tax legislation method will assist tax officials in tracking crypto transactions that are primarily invisible.

According to the Nigerian Tax Administration Act (NTAA) 2025, the government intends to use National Identification Numbers (NINs) and Tax Identification Numbers (TINs) to track cryptocurrency transactions in real time.

The technique will enable tax authorities to easily monitor mostly undetectable cryptocurrency transactions without having direct access to the blockchain, according to a TechCabal story. According to the report, tax records and income statements can compare cryptocurrency movements to national IDs.

Why National IDs Are Linked to Crypto Transfers

Nigeria has extended its identity tracking system to the crypto industry by requiring cryptocurrency exchanges and service providers to gather and report their clients' TINs and NINs.

The Nigerian Revenue Service and the Joint Tax Commission provide TINs, unique identity numbers used to monitor tax compliance and enforcement for both individuals and companies. Meanwhile, NIN connects biometric information such as face scans and fingerprints to personal identification details in the national identity database.

These new tax rules allow authorities to monitor cryptocurrency flows from exchanges to individuals and their reported income without constructing complex blockchain surveillance infrastructure.

Nigeria Aligns With Global Crypto Tax Transparency

Nigeria's financial regulator announced last year that it was considering plans to incorporate cryptocurrency taxation into its legal framework.

Furthermore, Nigeria’s strategy aligns with developments introduced through the OECD’s Crypto-Asset Reporting Framework (CARF), a global initiative designed to improve tax transparency across digital assets.

According to Chainalysis’ 2025 Global Adoption Index, Nigeria has once again emerged as one of Africa’s leading cryptocurrency adopters. Estimates reveal that the value of the country’s crypto industry increased by $92.1 billion between July 2024 and June 2025.