Crypto Travel Rule Regulations in



Securities and Exchange Commission

Travel Rule required from
Travel Rule regulation still pending
May 12, 2022
Content last updated

Who is the regulatory authority in Nigeria?

Securities And Exchange Commission

What is the minimum threshold for the Crypto Travel Rule in Nigeria?

All virtual asset transfers are treated as cross-border transfers and require information transmission regardless of amount. A broader scope of information needs to be transmitted for virtual asset transfers ≥ 1,000 $. 

What personally identifiable information must VASPs collect and share for the Crypto Travel Rule in Nigeria?

Transfers ≥ 1,000 $

(15) Travel Rule Requirements

(4) A CMO shall ensure that all cross-border transfers always include full originator information and must verify that the originator information is accurate. Full originator information includes:
(a) the full name of the originator;
(b) the originator’s wallet address; and
(c) physical address or national identity number or, where the originator is not a natural person, the incorporation number or business registration number.

(5) A CMO shall ensure that all cross-border transfers always include full beneficiary information. Full beneficiary information includes:
(a) name of the beneficiary; and
(b) the originator’s wallet address.

Transfers below 1,000 $

(6) Cross-border transfers below $1,000 are exempt from the requirements of regulation 4 and 5. For all cross-border transfers below $1,000, a CMO shall:
(a) ensure that all such transfers include the name of the originator, the name of the beneficiary, and the wallet address for each; and
(b) verify the information pertaining to its customer if there is a suspicion of money laundering or terrorist financing.

Are there differences in customer PII requirements for cross-border transfers versus transfers within Nigeria?

(15) Travel Rule Requirements
(3) All virtual asset transfers must be treated as cross-border transfers

What are the non-custodial or self-hosted wallet requirements in Nigeria?

I did not find anything on non-custodial. 

Why choose Notabene for crypto Travel Rule Compliance in Nigeria?

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Notabene's commitment to privacy + security:

Bank-grade security for an insecure world
  • Passed rigorous security reviews by more than 150 institutions, including global banks and top 20 crypto exchanges
  • Annual SOC 2 Type II Audit for Security and Data Privacy Categories
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Industry’s strongest protection for your customer data
  • Industry’s only escrowed exchange of encrypted PII
  • Compliant with EU GDPR, Singapore PDA
  • Plug-and-play Travel Rule end-user data consent component
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Learn more about our commitment to security
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