ARAIB-20: PASS
NGA
🇳🇬[NGA]//NIGERIA STATUTE DESK
Nigeria Digital Asset Taxation & Transaction Withholding (2026 Statutory Guide)
JURISDICTION: Nigeria
SCHEMA: TaxAction
STATUS: ENACTED BINDING LAW
AUDIT AS-OF: 2026-10-04
Direct tax rates, capital gains obligations, withholding rules, and revenue authority directives.
Operational Meaning in Practice
Compliance with primary regulatory statutes and circulars in Nigeria is mandatory for commercial operations.
Entities Affected
- Virtual Asset Operators
- Institutional Investors
- Regulated Financial Institutions
Statutory Evolution
Governed under active statutory notices issued by Central Bank of Nigeria.
Statutory Licensing & Governance Tree
Supervising Regulator(s)
Central Bank of NigeriaCBN
Securities and Exchange Commission NigeriaSEC
Primary Enacted Statute / Gazette
Guidelines on Operations of Bank Accounts for Virtual Asset Service Providers (VASPs)
REF: FPR/DIR/PUB/CIR/002/003
EFFECTIVE: 2023-12-22 / STATUS: enacted_binding
Audited Permission States
Proprietary Bank TradingProhibited
Strictly prohibited on bank own account under any circumstances
Designated Settlement BankingPermitted
Permitted only for SEC-licensed VASPs; direct cash withdrawal prohibited
Fiat Crypto BrokeragePermitted
Requires CAMA local incorporation and NGN 500M capital
Verbatim Statutory Evidence (Ground Truth)
FPR/DIR/PUB/CIR/002/003 / Section 6.1(a), Page 6
“No financial institution shall hold, trade or transact in virtual assets on its own account (proprietary trading is strictly prohibited).”
Source: Guidelines on Operations of Bank Accounts for Virtual Asset Service Providers (VASPs)
Evaluate a Specific Use-Case in Nigeria
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