…cryptocurrencies. “One of the problems we used to have was: where do you put confiscated virtual assets? Today we have a national wallet that we put them into,” he said. On legal strategy, Olukoyede said the commission was leveraging Section 17 of the Advance Fee Fraud Act to pursue civil asset forfeiture instead of wa…

…far from over, warning that emerging threats, particularly cyber-crime, financial fraud, virtual assets and illicit financial flows, were becoming increasingly sophisticated. According to him, his 34 months in office had been characterised by “sustained enforcement, institutional reform, prosecution, asset recovery, re…

PricewaterhouseCoopers (PwC) has identified six categories of virtual assets under Nigeria’s new tax framework, with the classification determining the taxes applicable to cryptocurrencies, stablecoins, security tokens, utility tokens, non-fungible tokens (NFTs) and sovereign digital currencies. The post PwC identifies…

…and other digital assets, earn income in crypto, or provide services related to virtual assets. In practical terms, the rules affect cryptocurrency investors and traders, exchanges, Virtual Asset Service Providers, Peer-to-Peer marketplace operators, wallet providers, brokers, NFT creators and investors, miners, and us…

The Nigeria Revenue Service has issued comprehensive guidelines on the taxation of virtual assets, providing a regulatory framework for the taxation of cryptocurrency and other digital asset transactions in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025. The new guidelines are aimed a…

President Bola Tinubu on Friday signed the Presidential Executive Order on Virtual Assets Coordination, 2026. The order, signed pursuant to Section 5 of the 1999 Constitution (as amended), establishes a new supervisory architecture to harmonise the regulation of virtual assets in Nigeria. A statement signed on Friday b…