Nigeria has a clear regulatory framework for crypto assets under the Investments and Securities Act (ISA) 2025 and SEC Rules on Digital Assets 2022 (amended). The recent enactment of the Investments and Securities Bill 2025 modernizes capital market regulation, supporting growth and openness.
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Region | africa west |
| Currency | NGN |
| VAT on Crypto | No |
| Required | Yes |
| Regulator | SEC Nigeria |
| Framework | Investments and Securities Act (ISA) 2025 |
| Ease | medium |
Licensing is required under the ISA 2025 and SEC Rules on Digital Assets, with a formal application process through the SEC Nigeria.
Enforcement focused on unlicensed operators and consumer protection
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | compliant |
| FATF Body | FATF |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities fall under the regulatory scope of the SEC Nigeria and must comply with existing digital asset regulations.
Status: regulated
Stablecoins are regulated under the SEC Rules on Digital Assets and must meet licensing and compliance requirements.
Status: no_rules
No specific NFT regulation
| Legal | Yes |
| Electricity Cost | $0.15/kWh |
| Renewable Energy | 15% |
| Infrastructure | fair |
Mining is legal but faces challenges due to relatively high electricity costs and limited renewable energy penetration.
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 25/100 |
| Banking Access | moderate |
| Sanctions Program Active | Yes |
Risk Factors
Nigeria has moderate political stability with ongoing reforms to improve the business environment. Corruption and infrastructure challenges remain key risks for crypto businesses.
Recent Political Events
Nigeria has a clear regulatory framework for crypto assets under the Investments and Securities Act (ISA) 2025 and SEC Rules on Digital Assets 2022 (amended). The recent enactment of the Investments and Securities Bill 2025 modernizes capital market regulation, supporting growth and openness.
Lagos is classified by FATF as: compliant.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-09-30 · Data source: Soken Crypto Legal Map
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