Akinyele Oluwale & Co. - Expert Accounting Solutions

Nigeria’s New Tax Regime: What You Need to Know (Finance Act 2025)

At Akinyele Oluwale & Co., we are committed to keeping our clients informed about the latest regulatory changes affecting businesses and individuals in Nigeria.

The Finance Act 2025 represents one of the most significant tax reforms in Nigeria in recent years. Signed into law to simplify the tax system, reduce multiple taxation, and improve ease of doing business, the Act introduces several key changes:

Major Highlights:
Company Income Tax (CIT) reduced to 25% for large companies (from 30%).
Tertiary Education Tax significantly reduced from 2% to 0.5%.
- Strengthened rules against multiple taxation across federal, state, and local governments.
- Expanded scope of Value Added Tax (VAT) on digital services and luxury goods.
- Higher exemption thresholds for Capital Gains Tax and Personal Income Tax.
- Mandatory digital compliance through the new Rev360 platform.

New Tax Portal – Rev360
The Federal Inland Revenue Service (FIRS) has launched Rev360 (www.rev360.gov.ng), a unified digital platform for all federal tax filings and payments. This new system makes tax compliance easier, faster, and more transparent.

Our Advisory
These reforms present both opportunities and compliance requirements for businesses. Early adaptation will help you avoid penalties and optimize your tax position.

02 July, 2026

The CLARITY Act: Bringing Regulatory Clarity to Digital Assets in the United States

The Digital Asset Market Clarity Act of 2025 (commonly known as the CLARITY Act, H.R. 3633) is a landmark piece of legislation designed to provide much-needed regulatory certainty to the cryptocurrency and digital asset industry in the United States. Passed by the U.S. House of Representatives in July 2025 with strong bipartisan support (294-134), the bill aims to resolve long-standing jurisdictional conflicts between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), fostering
innovation while protecting consumers and investors.

Why the CLARITY Act Matters
For years, the U.S. crypto market operated in a regulatory gray area. The SEC and CFTC often issued overlapping or conflicting oversight claims, leading to enforcement actions, legal uncertainty, and stifled innovation. Many projects relocated offshore due to this ambiguity.

The CLARITY Act addresses this by establishing clear jurisdictional boundaries and a structured framework for digital assets. It distinguishes between different types of assets and participants, moving the industry from reactive enforcement to proactive, predictable regulation.

Key Provisions of the CLARITY Act

Jurisdictional Clarity Between SEC and CFTC

Digital Commodities (primarily under CFTC oversight): These include decentralized assets like Bitcoin and Ethereum, where value derives from the blockchain network itself rather than a central issuer. Once a network achieves sufficient decentralization, tokens transition from securities to commodities.

Investment Contracts/Securities (under SEC oversight): Tokens sold in capital-raising activities that resemble traditional securities (e.g., promising profits based on the efforts of promoters) remain under SEC rules.

This "decentralization test" provides a clear pathway for projects to mature beyond securities regulation.

Registration and Compliance Pathways

Creates registration frameworks for digital asset exchanges, brokers, and intermediaries under the appropriate regulator (CFTC for commodities, SEC for securities).

Exemptions for non-custodial protocols, open-source developers, and decentralized networks to encourage innovation without undue burden.

Consumer Protection and Market Integrity

Strengthens disclosure requirements, anti-fraud measures, and consumer safeguards.

Addresses stablecoins specifically, with rules on yields, reserves, and integration with traditional finance.

Tax Reporting Enhancements

Expands the definition of "broker" for tax purposes, requiring more platforms to issue Form 1099-DA reports. This improves tax compliance while providing clearer guidelines for crypto transactions.

Federal Preemption and Innovation Safeguards

Preempts conflicting state laws in many areas, creating a more uniform national framework.

Protects developers and decentralized projects from certain liabilities if they maintain open-source code.

Benefits for Stakeholders

For Investors and Users: Greater transparency, reduced fraud risk, and clearer rules make the market safer and more trustworthy.

For Projects and Developers: Predictable regulation reduces legal risks and compliance costs, encouraging building and innovation in the U.S.

For the Broader Economy: Positions the United States as a leader in digital asset innovation, potentially attracting capital, talent, and businesses back from offshore jurisdictions.

For Nigeria and Global Crypto Communities: While U.S.-focused, the CLARITY Act sets a global precedent. Clear U.S. rules often influence international standards, benefiting African crypto users, exchanges, and adopters through improved liquidity, legitimacy, and cross-border frameworks.

Potential Challenges and Next Steps
The bill has advanced through key Senate committees but requires full Senate passage and presidential signature to become law. Debates continue around stablecoin specifics, yield products, and balancing innovation with robust oversight.

How Akinyele Oluwale & Co. Investment Ltd Help
At Akinyele Oluwale & Co. Investment, Ltd, we stay ahead of global regulatory developments like the CLARITY Act to guide our clients through compliance, tax implications, and strategic opportunities in the crypto space. Whether you're an investor, project founder, or business integrating digital assets, our team provides expert advisory on navigating these evolving landscapes.