Nigeria Compliance Report

Regulatory Overview

Regulatory Status

Some rules exist but significant gaps; draft legislation or limited guidance

Key Regulator(s)

SEC Nigeria, CBN, NFIU

Risk Level

high

Primary Legislation

[object Object], [object Object], [object Object], [object Object]

Travel Rule

Not adopted — Threshold: $1,000

Tax Reporting

Tax framework for crypto under development; FIRS exploring reporting requirements. **Rate**: Flat 10% on gains (sales proceeds minus allowable disposal expenses).[1][2][3][4]. Applies to disposal via sale, exchange for fiat/other crypto, or use for goods/services.[1][4]. Losses offset only crypto gains, not other income.[4]. Entities must compute, pay, and file self-assessment returns twice yearly (by June 30 and December 31).[1]

Key Facts

Data collection in progress. This country's compliance facts are queued for research by our AI worker fleet. Check back soon or access data via MCP.