National Economy
Friday, August 1, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

Nigeria To Collect 7.5% Tax On Cryptocurrency Transactions

by `
1 year ago
in Lead-In
Reading Time: 1 min read
Tax
Share on FacebookShare on TwitterShare on Telegram

You May Like

Africa’s Losing $90bn Annually To Imported Substandard Fuel, Dangote Laments

IDB To Develop First-ever Power Sector Framework For Nigeria

Nigeria government is to receive a 7.5 per cent Value Added Tax on Cryptocurrency transactions from users registered in the country from July 8, 2024.
A popular cryptocurrency platform, KuCoin disclosed this in a recent email notice to users in Nigeria.
“We are writing to inform you of an important regulatory update that impacts our users from the Republic of Nigeria.
“Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (VAT) at a rate of 7.5 per cent on transaction fees in each trade for users whose KYC information is registered in Nigeria.”
According to official data, cryptocurrency transaction volume is $59 billion yearly.
Meanwhile, Ray Youssef, director of NoOnes, a cryptocurrency platform said peer-to-peer business is worth $500 billion.
In February 2024, the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso raised the alarm that a suspicious $26 billion was funneled through Binance without a trace.

 

Tags: cryptocurrencyTax
ShareTweetShare
Previous Post

World Bank Restructures $430m Digital ID Project For Nigeria

Next Post

DisCos Increase Band A Tariffs To N209.5/kWh

ANOTHER GOOD READ

Africa’s Losing $90bn Annually To Imported Substandard Fuel, Dangote Laments
Lead-In

Africa’s Losing $90bn Annually To Imported Substandard Fuel, Dangote Laments

4 days ago
IDB To Develop First-ever Power Sector Framework For Nigeria
Lead-In

IDB To Develop First-ever Power Sector Framework For Nigeria

4 days ago
Nigeria, World Bank Push To Expand Digital Access Nationwide
Lead-In

Nigeria, World Bank Push To Expand Digital Access Nationwide

4 days ago
‘Formalising Commodities Can Unlock $500bn In Agricultural, Mineral Assets’
Lead-In

‘Formalising Commodities Can Unlock $500bn In Agricultural, Mineral Assets’

4 days ago
‘Formalising Commodities Can Unlock $500bn In Agricultural, Mineral Assets’
Lead-In

‘Formalising Commodities Can Unlock $500bn In Agricultural, Mineral Assets’

4 days ago
FG Unveils Unified Standards To Equip Technicians For CNG, EV Transition
Lead-In

FG Unveils Unified Standards To Equip Technicians For CNG, EV Transition

4 days ago
Next Post
DisCos Increase Band A Tariffs To N209.5/kWh

DisCos Increase Band A Tariffs To N209.5/kWh

Most Recent

Coca-Cola To Sell Chivita|Hollandia To UAC In Major Industry Shake-Up

Coca-Cola To Sell Chivita|Hollandia To UAC In Major Industry Shake-Up

July 30, 2025
Stakeholders Warn Against Weakening FoI Act

Stakeholders Warn Against Weakening FoI Act

July 29, 2025
Impact Of Fake Colleagues In A Workplace

Impact Of Fake Colleagues In A Workplace

July 28, 2025
NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

July 28, 2025
Women’s Basketball Premier League: First Bank Makes Strong Start

Women’s Basketball Premier League: First Bank Makes Strong Start

July 28, 2025
WAFCON 2024: Senate Celebrates Super Falcons

WAFCON 2024: Senate Celebrates Super Falcons

July 28, 2025
Wakama Unveils D’Tigress’ Roster For 2025 AfroBasket Championship

Wakama Unveils D’Tigress’ Roster For 2025 AfroBasket Championship

July 28, 2025
‘Legal Backing Needed For Gratuity Reintroduction Under CPS’

‘Legal Backing Needed For Gratuity Reintroduction Under CPS’

July 28, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy