Innovations in digital systems have transformed the workings of the global economy of exchange and, as a result, virtual currencies are gaining immense popularity. Cryptocurrency offers a decentralized system without an intermediary, which allows people to remain in control of managing their funds. The main aim of this study is to investigate the effect of cryptocurrency on company income tax in Nigeria banking industry a case study of First Bank Nigeria Plc. This study used descriptive and inferential statistics. Data analysis for this study employed the multiple regression, descriptive statistical techniques used tables, frequencies, and percentages as well as mean and standard deviation were used to analyse the demographical variable of the respondents while inferential statistics was used to determine the influence of independent variables effect of cryptocurrency on the dependent company income tax the study used SPSS version 18.0 to analyse the data. The results reveal that Siftcion cryptocurrency, Ethereum cryptocurrency and Siftcion cryptocurrency negatively and significantly influence Company income tax (i.e., inverse relationship). The study recommends the need to be prepared for potential speculative attacks and incorporate this means of payment better into the financial system, the study also recommend the need for education on the economic benefits of cryptocurrency and the possibility of their co-existing with fiat currency should be intensified at all levels.