Nigeria's Triple Regulatory Squeeze: Crypto Tax, Identity Law Chaos, and Data Enforcement Signal Fintech Growing Pains

Nigeria's new 1.5% stamp duty on digital assets is squeezing crypto margins so thin that traders are warning it could push activity underground rather than into regulated channels. Joshua Adedeji, an OTC trader processing $500,000 weekly in USDT on Bybit, says stamp duty will now dwarf his transfer charges — previously his biggest cost — while his spread sits at a razor-thin 0.5 kobo per dollar. Kenny Olawale, another Lagos-based P2P trader, puts it bluntly: "Charging 1.5% on...