Central African Republic vs Nigeria
Crypto regulation comparison
Central African Republic
Nigeria
Legal
Legal
The Central African Republic briefly adopted Bitcoin as legal tender in 2022 under the 'Sango' project, but this was struck down by the Constitutional Court. Crypto remains legal but the legal tender status was reversed.
Nigeria has the highest crypto adoption rate in Africa and among the highest globally. After the CBN banned banks from servicing crypto exchanges in 2021 (driving activity to P2P), the ban was lifted in December 2023. The SEC Nigeria now regulates digital asset exchanges and issuances under its Accelerated Regulatory Incubation Programme (ARIP). Nigeria's progressive rates up to 25% applies to crypto disposals.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
Progressive: up to 25% (individuals) / 30% (companies)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BEAC (Bank of Central African States)
Regulator
SEC Nigeria, CBN (Central Bank of Nigeria)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Stablecoins subject to SEC digital asset rules
Key Points
- Bitcoin was briefly adopted as legal tender in 2022 via the Sango Act
- Constitutional Court struck down the legal tender provision
- Crypto trading and holding remain legal
- BEAC opposed the Bitcoin legal tender move
- Sango crypto hub project launched but has faced significant challenges
Key Points
- CBN lifted the 2021 banking ban on crypto in December 2023
- SEC Nigeria oversees VASPs under the Investments and Securities Act and ARIP
- Progressive rates up to 25% applies to profits from crypto asset disposals according to Nigeria Tax Act 2025 (eff. Jan 2026)
- Nigeria ranks among the top 5 globally for crypto adoption (Chainalysis index)
- P2P trading dominates the market; Binance and other platforms face regulatory scrutiny