CITIGROUP

Nigeria’s New Cryptocurrency Tax Regime Faces Challenges in Revenue Generation

March 8, 2025March 8, 2025 - by Sofia Nawab - Leave a Comment

Nigeria is set to impose new taxes on cryptocurrency transactions, including a capital gains tax and VAT, targeting an annual revenue of 200 billion naira. Critics warn that high taxes …

Business / Companies

Challenges of Nigeria’s New Cryptocurrency Tax Policies: A Path to Revenue?

March 8, 2025March 8, 2025 - by Marcus Chen - Leave a Comment

In an effort to rejuvenate its economy, Nigeria has introduced cryptocurrency tax policies, aiming to collect from unregulated exchanges like Binance. Despite the country’s large market and high crypto adoption, …