Nigeria has a clear regulatory framework for capital markets including crypto, with the Investments and Securities Bill (ISB) 2025 recently enacted to replace the previous 2007 Act. The SEC is actively promoting market growth and investor protection.
| Status | Legal |
| Risk Score | 45/100 (Moderate Risk) |
| Region | africa west |
| Currency | NGN |
| Adoption Rank | #2 |
| VAT on Crypto | No |
| Required | Yes |
| Regulator | SEC Nigeria / CBN |
| Framework | Investments and Securities Bill (ISB) 2025 |
| Ease | medium |
| Cost (USD) | $18,000 - $500,000 |
Licensing is governed under the ISB 2025 which repealed the previous 2007 Act, providing a modernized framework for crypto service providers.
Nigerian authorities detained Binance executives in early 2024 over tax and money laundering allegations. The EFCC has pursued cases involving crypto-related fraud. SEC has warned against unlicensed platforms.
| Status | Launched |
| Name | e-Naira |
| Issuing Authority | Central Bank of Nigeria |
| Model | hybrid |
| Technology | Bitt Inc. (DLT) |
| Launched Date |
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | fsrb_only |
| FATF Body | GIABA |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities are regulated under the ISB 2025 framework, requiring compliance with AML and licensing rules.
Status: regulated
Stablecoins are regulated under the ISB 2025, requiring issuers to comply with licensing and AML provisions.
Status: no_rules
No NFT-specific regulation. NFTs with securities characteristics could fall under SEC oversight. Nigeria has a growing NFT art scene but regulation has not kept pace.
| Legal | Yes |
| Electricity Cost | $0.065/kWh |
| Renewable Energy | 18% |
| Infrastructure | fair |
Mining is legal but restricted due to grid constraints and regulatory oversight. Electricity cost is moderate with limited renewable energy share.
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 25/100 |
| Banking Access | restricted |
| Sanctions Program Active | No |
Risk Factors
Nigeria faces moderate political stability with ongoing challenges in governance and infrastructure. Crypto businesses encounter banking restrictions and regulatory uncertainty.
Recent Political Events
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Explore IT Services →Last reviewed: 2026-05-06 · Data source: Soken Crypto Legal Map
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