Nigeria is currently making plans to change it's regulations, to add digital transactions and trading of cryptocurrency taxation. The Nigerian government aims to improve it's revenue by implementing taxation framework on digital transactions and trading of cryptocurrency.
Going by the statement of Bloomberg, the Nigerian Securities and Exchange Commission (SEC), has made it public that regulations will be made to properly tax qualified transactions on exchanges that are regulated.
Currently the Nigerian lawmakers are constructing a precise framework for properly taxing cryptocurrency trading, and transactions done digitally. It is expected to be implemented within the first quarter of 2025.
The Nigerian Securities and Exchange Commission (SEC), plans to expand licensing in the cryptocurrency industry; to attract more exchanges that are centralized to operate. As a result, increasing government taxation.