TINUBU SIGNS MAJOR CRYPTO LAW — NIGERIA TO TAX AND LICENSE DIGITAL ASSETS

TINUBU SIGNS MAJOR CRYPTO LAW — NIGERIA TO TAX AND LICENSE DIGITAL ASSETS

President Bola Tinubu has at today signed the most comprehensive crypto regulation Nigeria has ever had. The Presidential Executive Order on Virtual Assets Coordination, July 2026.  

This is an indication that all crypto exchanges must register with the SEC and CBN body within 90 days and this transits to 10% tax on all crypto to Naira conversion above ₦10 million. The signing of the regulation into law will also lead to all exchanges getting an ID which will help in tracking large transactions.

With the new regulation put into place, Fintech can now test blockchain products in agriculture and health with their remittance with the regulatory body . 

The new regulation will also help the FG with taxing the digital economy as it has been looking for ways to si that. The new regulation also fits with the Nigeria industrial policy 2025 which focuses on the MSMEs and digital jobs.

The sighing of this regulation is a historical event in Nigeria as crypto which was banned 3 years ago, today it’s being taxed and regulated. It is done right, Nigeria becomes Africa’s Web3 hub. If done wrong, trading goes underground. 

The Implementation of this regulation begins on the 1st of August. 

For Nigeria, the implementation of this law gives the legitimacy to partner with banks.