Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the SEC registration, including banking and payment rails.
Get a crypto license in Nigeria.
Africa's largest crypto market has a working perimeter at last: the SEC registers VASPs through its Digital Assets Rules and the ARIP onboarding programme, the ISA 2025 anchors digital assets in statute, and the banks are open again. We run the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Nigeria in brief
The continent's largest crypto market, formalised.
Nigeria's crypto economy is enormous by any measure - peer-to-peer volumes, remittances and stablecoin usage that place the country at the top of global adoption rankings year after year. The rules have finally caught up with the market. The SEC's Rules on Issuance, Offering Platforms and Custody of Digital Assets set the registration framework; the Accelerated Regulatory Incubation Programme (ARIP) onboards virtual asset service providers into supervision - a ₦200,000 assessment, a ₦2,000,000 processing fee, evidence of shareholders' funds and a fidelity bond covering at least 25% of them, and graduates them toward full registration. Above it all, the Investments and Securities Act 2025, assented in March 2025, repealed the 2007 Act and anchored digital assets in primary statute.
Equally decisive was the banking turn: the Central Bank of Nigeria lifted its restriction in December 2023 and issued guidelines allowing banks to serve licensed VASPs - the rails that make a Nigerian licence operational rather than ornamental. Enforcement runs in parallel, with the SEC moving against unregistered platforms; the perimeter is policed, which is exactly what gives registration its value. For groups serious about African volume - exchange, on/off-ramps, stablecoin distribution - Nigeria is the licence that matters most on the continent.
Africa's largest crypto market, formalised: SEC Digital Assets Rules + ARIP onboarding (₦200k + ₦2M fees, 25% fidelity bond), anchored by the ISA 2025.
The CBN's guidelines opened banking for licensed VASPs - the rails that make the licence real. Enforcement defends the perimeter.
The framework
SEC registration, through the ARIP gateway.
The Digital Assets Rules define the registration classes; ARIP is the onboarding road into them. The CBN's guidelines open the banking rails alongside. We run both tracks together.
SEC registration through ARIP; the CBN's banking rails built alongside.
01 - SEC · DIGITAL ASSETS RULES + ARIP
VASP registration
Registration under the SEC's digital-asset framework via the Accelerated Regulatory Incubation Programme. Assessment, onboarding and graduation to full registration for exchanges, platforms and custodians.
Registration under the SEC's digital-asset framework via the Accelerated Regulatory Incubation Programme. Assessment, onboarding and graduation to full registration for exchanges, platforms and custodians.
- ✓Exchange and offering-platform registration
- ✓Custody of digital assets
- ✓ARIP: ₦200k assessment · ₦2M processing
- ✓Shareholders' funds + 25% fidelity bond
- ✓Graduation to full SEC registration
- ✓Public register of onboarded operators
02 - THE RAILS & THE STATUTE
ISA 2025 - assentedBanking, naira rails & the ISA
The CBN's December 2023 guidelines let banks serve licensed VASPs. Accounts, naira on/off-ramps and settlement. While the Investments and Securities Act 2025 anchors the whole perimeter in statute.
Bank accounts, naira ramps and the ISA 2025 statute. The operational layer.
- ✓CBN-aligned bank accounts for VASPs
- ✓Naira on/off-ramps through partner banks
- ✓ISA 2025 - digital assets in primary law
- ✓Enforcement against unregistered platforms
- ✓Stablecoin and remittance corridors
- ✓The operational layer most applicants miss
Costs and timelines are confirmed for your case before any work begins. ARIP fees are published by the SEC; capital, bond and banking arrangements are scoped individually in your quote.
Why Nigeria
The volume is already here. The licence makes it legal.
The framework pairs the SEC's Digital Assets Rules and ARIP with the ISA 2025. Around the largest crypto economy in Africa.
✓
Africa's largest crypto market
Top-of-world adoption, massive P2P and stablecoin volume, a 230-million population. The demand side that every emerging-market strategy wants is concentrated here.Top adoption, 230M people.
✓
A statute, not a circular
The ISA 2025 put digital assets into primary legislation. The regulatory foundation no longer depends on agency goodwill, and the SEC builds on statute.ISA 2025 - primary law.
✓
ARIP - a real onboarding road
Published fees, a defined assessment path and graduation to full registration. The SEC built a gateway, not a wall, and operators are moving through it.Published fees, defined graduation.
✓
The banks are open
The CBN's 2023 guidelines ended the banking freeze for licensed VASPs. Accounts and naira rails now attach to registration, which is what makes the licence operational.CBN guidelines since Dec 2023.
✓
Enforcement defends the perimeter
The SEC moves against unregistered platforms. The licence's value is protected by the same authority that grants it.Unregistered platforms pursued.
✓
The remittance and stablecoin engine
Billions in corridor flows and one of the world's highest stablecoin usage rates. Licensed rails to this demand are a structural opportunity, not a cycle trade.Billions in corridor flows.
How it compares
How Nigeria differs from other routes.
Nigeria is the African volume play. A young perimeter around enormous proven demand. The full comparison is below.
Nigeria vs other jurisdictions
| Feature |  Nigeria | Other jurisdictions |
|---|---|---|
| Regulatory regime | SEC rules + ARIP + ISA 2025 | Settled licensing regimes |
| Market | Africa's largest, top adoption | Smaller or saturated |
| Banking | CBN guidelines - open to VASPs | Varies widely |
| Perimeter age | Forming - field still thin | Crowded registers |
Regulatory regime
NigeriaSEC rules + ARIP + ISA 2025
Other jurisdictionsSettled licensing regimes
Market
NigeriaAfrica's largest, top adoption
Other jurisdictionsSmaller or saturated
Banking
NigeriaCBN guidelines - open to VASPs
Other jurisdictionsVaries widely
Perimeter age
NigeriaForming - field still thin
Other jurisdictionsCrowded registers
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Nigeria | SEC VASP registration (ARIP) | 30% CIT · digital-asset CGT | Young desk, huge market |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
 United Kingdom | FCA MLR → FSMA (2027) | 25% CIT · CGT 18/24% | Exacting AML bar |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | EU passport, 4-6 months |
NigeriaLicense typeSEC VASP registration (ARIP)
Taxation30% CIT · digital-asset CGT
RequirementsYoung desk, huge market
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
United KingdomLicense typeFCA MLR → FSMA (2027)
Taxation25% CIT · CGT 18/24%
RequirementsExacting AML bar
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsEU passport, 4-6 months
Before you apply
Requirements for SEC registration.Requirements for SEC registration.
The Digital Assets Rules and the ARIP framework define the file. The checklist below is what a passing application contains.
01
Nigerian entity. A locally incorporated company with real operations and governance in Nigeria.
02
Shareholders' funds. Capitalisation per the SEC's rules for your registration class, evidenced and maintained.
03
Fidelity bond. Coverage of at least 25% of shareholders' funds, bound with an approved provider.
04
ARIP filings. The ₦200,000 assessment and ₦2,000,000 processing fee, with the programme's document set.
05
Fit & proper directors and officers. Clean records, competence and transparent ownership to UBOs.
06
AML/CFT programme. KYC, monitoring and reporting per SEC and NFIU standards, with a named officer.
07
Systems and custody. Platform, wallet and key-management documentation the SEC can review.
08
Client asset protection. Segregation of client naira and digital assets with documented controls.
09
Banking plan. CBN-guideline-compliant accounts arranged with partner banks as part of the file.
10
Business plan. Volumes, fees and unit economics for Africa's most competitive crypto market.
01
Nigerian company with real governance.
02
Shareholders' funds per class, evidenced.
03
Fidelity bond ≥25% of funds.
04
ARIP fees: ₦200k + ₦2M.
05
Fit & proper directors to UBOs.
06
SEC/NFIU-grade AML with officer.
07
Reviewable systems and custody.
08
Segregated client assets.
09
CBN-compliant banking plan.
10
Interrogable business plan.
Reflects the SEC's Digital Assets Rules, the ARIP framework and the ISA 2025 as of 2026. The SEC publishes advisories against unregistered platforms. The perimeter is enforced.SEC Digital Assets Rules + ARIP + ISA 2025, as of 2026.
How it works
From first call to the SEC register.
01
Perimeter and strategy
Registration class, capital plan and the banking strategy. Fixed in writing with an realistic timeline.Class, capital, banking - in writing.
02
Nigerian company and capital
Incorporation, shareholders' funds evidenced, fidelity bond bound. The financial base the rules require.Funds evidenced, bond bound.
03
The ARIP application
Assessment filing, then the full programme dossier. Systems, AML and custody documentation to SEC standards.Full dossier to SEC standards.
04
SEC review and onboarding
Question rounds through the incubation programme - 6-12 months in practice. With the banking file moving in parallel.6-12 months; banking in parallel.
05
Registration and operation
Graduation to full registration, launch on CBN-aligned rails, and the reporting calendar we can keep running.Graduation, launch, reporting.
Quick facts
RegulatorSEC Nigeria
StatuteISA 2025
RouteARIP → registration
Assessment fee₦200,000
Processing fee₦2,000,000
Fidelity bond≥25% of funds
BankingCBN guidelines - open
In practice6-12 months
The SEC publishes its ARIP framework and fees openly. Files built to the published standard move through the programme.
On the ground in Nigeria
Run from our Lagos office.
Prifinance - Nigeria
Lagos · Nigeria
Lagos, Nigeria
01
Nigerian company formation
Local incorporation, governance and the corporate layer the SEC expects. Structured for registration from day one.Structured for registration.
02
The ARIP file
Assessment and application dossiers, capital and bond evidence, AML pack. Drafted by us and defended through the SEC's rounds.Defended through SEC rounds.
03
The banking build
CBN-guideline-compliant accounts and naira rails arranged with partner banks. The operational layer built alongside the licence.CBN rails, arranged in parallel.
04
Substance and staffing
Directors, compliance and support hires from Lagos's deep talent pool - assembled pragmatically.Lagos hires, assembled.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Nigeria.
Ordinary Nigerian corporate taxation with a digital-asset gains layer, and a 2025 reform reshaping the system from 2026. The real numbers below.
Corporate tax 30%
Large companies pay 30% companies income tax, with reduced rates below turnover thresholds. Platform and custody profits follow ordinary rules.Reduced tiers below thresholds.
Digital-asset gains taxed
Nigeria introduced capital-gains taxation of digital assets in its 2023 finance legislation, and the 2025 tax reform. Effective from 2026. Reshapes rates and administration. We file to the current text.2023 layer; 2026 reform reshapes.
VAT at 7.5%
The standard VAT applies to fees and services under general principles. Product-level treatment is planned into the model upfront.Planned into the model.
The 2025 reform
Nigeria's tax acts of 2025 consolidate and modernise the system from January 2026. Thresholds, rates and filing all move. We track the implementing guidance as it lands.Live from 2026 - tracked.
Withholding and treaties
Withholding applies on defined payments with treaty relief where agreements exist. Cross-border structures are modelled before launch.Modelled before launch.
The informal-to-formal shift
As the licensed perimeter forms, volume migrates from P2P to registered rails. The tax system is part of that migration, and clean books are the licence's quiet twin.Clean books, licensed rails.
Tax summary
Corporate tax (large)30%
Digital-asset gainsTaxable - reformed 2026
Standard VAT7.5%
2025 tax actsEffective from 2026
WithholdingBy payment type · treaties
Tax treaties15+
*As of 2026, under the 2025 reform's transition. Rates and thresholds are moving. We confirm the current position in your quote.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Nigerian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, registered business.
Follow Prifinance
Active across our channels.
Nigeria · SEC
Launch your crypto project in Nigeria with expert support.
Full-service assistance - from company registration to ARIP onboarding, SEC registration and banking.
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Is Nigeria the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Nigerian crypto licence: the practical answers.
What licence does a crypto business need in Nigeria?+
Registration with the SEC under its Digital Assets Rules, entered through the Accelerated Regulatory Incubation Programme (ARIP) - for exchanges, offering platforms and custodians - on the statutory foundation of the Investments and Securities Act 2025.
What is ARIP exactly?+
The SEC's onboarding programme for VASPs: a ₦200,000 assessment, a ₦2,000,000 processing fee, evidence of shareholders' funds with a fidelity bond of at least 25%, and supervised incubation graduating to full registration.
Can licensed VASPs actually get bank accounts?+
Yes - the CBN lifted its restriction in December 2023 and issued guidelines for banks to serve licensed VASPs. The banking file is part of our build, not an afterthought.
How long does registration take?+
Realistically 6-12 months through assessment, onboarding and graduation - with capital evidence and systems documentation the usual pacing items.
What substance is expected?+
A Nigerian company with real governance, evidenced shareholders' funds, a bound fidelity bond, a named AML officer and systems the SEC can review - plus banking arranged under the CBN's guidelines.
How are crypto companies taxed?+
30% companies income tax for large companies, VAT at 7.5% on fees and services, and digital-asset gains taxation introduced in 2023 - with the 2025 tax reform reshaping rates and administration from 2026.
What happens to unregistered platforms?+
The SEC publishes advisories and moves against unregistered operators - enforcement arrived with the framework, which is precisely what gives registration its value.
Why is Nigeria worth the effort?+
Because it is Africa's largest crypto economy - top global adoption, enormous P2P and stablecoin volume, and remittance corridors measured in billions. The licensed field is still thin; the demand is not.
Can foreign groups register?+
Yes - through Nigerian subsidiaries with local governance and substance; international backing is common among onboarded operators. We structure the entity and the people plan.
Why Nigeria rather than a Gulf or EU licence?+
Different prizes: the Gulf and EU sell regulatory brand; Nigeria sells access to the continent's deepest crypto demand. African strategies need the Nigerian licence itself, and we pair it with a hub licence where global rails require one.
What licence is needed?+
SEC VASP registration via ARIP, under ISA 2025.
ARIP?+
₦200k + ₦2M fees; bond ≥25%; graduation path.
Bank accounts?+
Yes - CBN guidelines since Dec 2023.
How long?+
6-12 months in practice.
Substance?+
Nigerian entity, funds, bond, AML officer.
Company taxes?+
30% CIT; VAT 7.5%; DA gains taxed.
Unregistered platforms?+
Pursued - the perimeter is enforced.
Worth it?+
Africa's deepest demand; thin licensed field.
Foreign groups?+
Yes - via Nigerian subsidiaries.
Why Nigeria?+
The African volume play - the licence that matters.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Nigerian route fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Securities and Exchange Commission Nigeria, the Central Bank of Nigeria or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.