Crypto Legal in Nigeria? SEC Stance, Regulations, & 2025 Outlook

Nigeria enacted the Investments and Securities Act 2025, officially classifying digital assets as securities. This move legalizes trading and investment but prohibits the use of crypto as legal tender, keeping the Naira as the sole currency for payments. The Securities and Exchange Commission now mandates strict licensing for all Virtual Asset Service Providers. Additionally, investors face a new capital gains tax.