Crypto tax in Nigeria

Taxable

As of 2026-06-21Last reviewed 2026-06-21

This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.

Crypto is taxable in Nigeria. Under the Nigeria Tax Act 2025, which takes effect from 2026, gains on disposals of digital assets are treated as chargeable gains and brought into the income tax system, while virtual asset service providers face corporate income tax and reporting duties. The tax authority is the Federal Inland Revenue Service (FIRS), being restructured as the Nigeria Revenue Service.

The rules in detail

The Nigeria Tax Act 2025 is part of a wider tax reform package and changes how digital assets are treated. It brings virtual assets, including cryptocurrencies, tokenised assets, and non fungible tokens, within the definition of chargeable assets, so a gain on disposal is a taxable event. Using crypto to pay for goods or services is treated as a disposal as well, which closes a route that some had relied on. Reporting from these provisions is expected to apply from 2026, and the framework is described by officials as aligning Nigeria with the international Crypto Asset Reporting Framework.

For individuals, gains on digital assets are folded into the income tax system rather than taxed under the earlier flat capital gains approach. The Finance Act 2022 had introduced a 10 percent capital gains tax on digital asset disposals, and the 2025 reform supersedes that treatment by bringing gains into income tax, where personal rates are progressive. Because the exact rate and reliefs depend on your total income and the final regulations, confirm the figure that applies to you rather than assuming a single percentage.

For virtual asset service providers, the reform sets corporate income tax on profits and adds compliance duties. Providers are required to register, apply Know Your Customer checks, and report transaction data, and digital asset activity is being linked to Tax Identification Numbers and National Identification Numbers. Penalties apply for default. The collecting authority is the Federal Inland Revenue Service (FIRS), which is being restructured as the Nigeria Revenue Service under the reforms.

Tax

This page is general information and not tax advice. Crypto tax in Nigeria depends on your circumstances, your total income, the type of transaction, and the regulations in force when you file. Keep full records of acquisitions, disposals, and the naira value at each point, and verify your position with the FIRS or a qualified Nigerian tax adviser before filing.

Availability and how to act

Crypto is available to buy and sell in Nigeria through platforms that engage with the new framework. The SEC granted approval in principle under its Accelerated Regulatory Incubation Programme to local exchanges including Busha and Quidax, and platforms such as Luno also serve Nigerian users. Several large international platforms have been harder to access since the 2024 enforcement action against Binance, which detained executives and led Binance to disable its naira services, so availability varies by platform as of 2026. Compare the exchanges that are genuinely available to Nigerian residents before choosing one.

Compare available exchanges in Nigeria

See the platforms that are genuinely available to residents, with their registrations and how to sign up compliantly.

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Regulator and sources

Securities and Exchange Commission Nigeria (SEC), sec.gov.ng, including the Rules on Digital Assets and the Accelerated Regulatory Incubation Programme (ARIP)
Investments and Securities Act 2025 (signed into law in March 2025), classifying digital assets as securities
Central Bank of Nigeria (CBN), cbn.gov.ng, including the December 2023 guidelines for accounts of virtual asset service providers
Nigeria Tax Act 2025 and the Federal Inland Revenue Service (FIRS), now being restructured as the Nigeria Revenue Service, firs.gov.ng

Frequently asked questions

Is crypto taxed in Nigeria?

Yes. Under the Nigeria Tax Act 2025, effective from 2026, gains on disposals of digital assets are chargeable gains within the income tax system, and providers face corporate income tax. This is general information, not tax advice.

What happened to the 10 percent crypto capital gains tax?

The Finance Act 2022 introduced a 10 percent capital gains tax on digital asset disposals. The Nigeria Tax Act 2025 supersedes that by bringing gains into the income tax system, where personal rates are progressive. Confirm the rate that applies to you.

Do I pay tax when I spend crypto in Nigeria?

Using crypto to pay for goods or services is treated as a disposal under the 2025 reform, so it can create a taxable gain. Keep records of the naira value at the time of each transaction.

Who collects crypto tax in Nigeria?

The Federal Inland Revenue Service (FIRS), which is being restructured as the Nigeria Revenue Service. Virtual asset service providers also have reporting duties tied to Tax Identification Numbers and National Identification Numbers.

How are exchanges and other providers taxed?

Virtual asset service providers are subject to corporate income tax on their profits and must register, apply Know Your Customer checks, and report transaction data, with penalties for default. This is general information, not tax advice.

Nigeria's crypto framework has changed rapidly, from the 2021 banking restriction to its removal in December 2023, the Investments and Securities Act 2025, and the Nigeria Tax Act 2025. Rules, licences, and the availability of individual platforms can shift again. Confirm the current position with the SEC, the CBN, or the FIRS before acting.

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