Starting 2026, Nigerian Crypto Startups Face License Revocation and ₦10M Fines for Tax Evasion
Virtual Asset Service Providers (VASPs) in Nigeria who neglect to adhere to the stipulations of the country’s newly enacted tax legislation will incur a starting...
Virtual Asset Service Providers (VASPs) in Nigeria who neglect to adhere to the stipulations of the country’s newly enacted tax legislation will incur a starting fine of ₦10 million (approximately $6,693) for the first month of non-compliance, followed by a monthly penalty of ₦1 million ($669) thereafter. Additionally, the Securities and Exchange Commission (SEC) holds...