Tax by country
Nigeria — tax on crypto and investments
Nigeria Revenue Service (NRS, formerly FIRS); State Internal Revenue Services for resident individuals. Tax year 1 January – 31 December. Last verified 28-10-2026.
| Country | Currency | Tax year | Authority | Last verified | Status |
|---|---|---|---|---|---|
| NG | NGN | 1 January – 31 December | Nigeria Revenue Service (NRS, formerly FIRS); State Internal Revenue Services for resident individuals | 28-10-2026 | approved by the owner (accountant), 28-10-2026 |
Related article: hq-fs.com/blog/crypto-tax-nigeria
Not tax advice. Rules summarised from official sources, linked where each rule is stated, as verified on the date above. Confirm with a qualified adviser before filing.
At a glance#
Capital gains#
2026 tax year (NTA)#
Chargeable gains are part of an individual's taxable income (NTA s.28(2)(a)(v)) and are taxed at the Fourth Schedule rates (NTA s.58) (PwC).
| Chargeable income band (NGN, 2026) | Rate |
|---|---|
| First 800,000 | 0% (PwC) |
| Next 2,200,000 | 15% (PwC) |
| Next 9,000,000 | 18% (PwC) |
| Next 13,000,000 | 21% (PwC) |
| Next 25,000,000 | 23% (PwC) |
| Above 50,000,000 | 25% (PwC) |
Individuals earning the national minimum wage are outside the Fourth Schedule charge (NTA s.58).
NRS virtual-asset categories (2026)#
All categories as summarised by Aluko & Oyebode.
| Category | Examples | Treatment |
|---|---|---|
| 1 Cryptocurrencies and exchange tokens | BTC, ETH | Income tax on disposal gain; stamp duty on eligible transfers; 1% WHT |
| 2 Stablecoins and payment tokens (non-yield) | Fiat-pegged tokens | Income tax on disposal gain; stamp duty on eligible transfers |
| 3 Security and investment tokens | Tokens regulated as securities under the ISA | Income tax on disposal gain; stamp duty except tokenised Nigerian stocks and shares (NTA s.184(h)); 1% WHT |
| 4 Utility and governance tokens, yield component of yield-bearing stablecoins | Gaming, DAO tokens | Income tax on disposal gain; staking, DeFi and liquidity rewards taxable on receipt |
| 5 NFTs | Digital art, music | Creator: income on sale, VAT on supply. Investor: income tax on USD gain; 1% WHT |
| 6 Sovereign digital currencies | eNaira, foreign CBDCs | Outside the VA framework; treated as fiat |
2025 tax year (CGTA, Finance Act 2023)#
Income#
2026 (NTA, NTAA, NRS guidelines)#
| Event | Treatment | Valuation | WHT |
|---|---|---|---|
| Mining rewards | Income on receipt | USD FMV × CBN/NAFEM rate on receipt date | 10% if via licensed VASP |
| Staking rewards | Income on receipt; cost base stepped up | Same | 10% |
| DeFi yield, lending, liquidity rewards | Income on receipt; cost base stepped up | Same | 10% if via licensed VASP |
| Airdrops and hard forks with realisable value | Income on receipt; cost base = FMV at receipt | Same | 10% |
| Airdrops and hard forks without realisable value | Taxed on disposal, on full proceeds | At disposal | Not stated |
| Salary paid in VA | Employment income; employer deducts PAYE | USD FMV × CBN/NAFEM rate on payroll date | PAYE |
| Professional fees paid in VA | Income; VAT on the fee | USD FMV × CBN/NAFEM rate | 5% or 10% |
| Business trading in VA | Business profits; VA losses deductible only against VA business profits | Market value | 1% on disposals |
Income from all these sources is aggregated and taxed at the Fourth Schedule bands above. Reporting of VA receipts as income is also required by NTAA Fifth Schedule para 3.
2025 (PITA)#
| Annual taxable income band (NGN, 2025) | Rate |
|---|---|
| First 300,000 | 7% |
| Next 300,000 | 11% |
| Next 500,000 | 15% |
| Next 500,000 | 19% |
| Next 1,600,000 | 21% |
| Above 3,200,000 | 24% |
| Minimum tax | 1% of total income where reliefs leave no taxable income or a lower tax |
Crypto income (staking, mining, airdrops) in 2025 had no specific rule.
Cost basis and record keeping#
| Item | Rule |
|---|---|
| Lot-matching method | Not prescribed in the NTA chargeable-gains Part or the NTAA Fifth Schedule. The NRS guidelines set a USD cost base per acquisition |
| Same-day / 30-day rules | None identified |
| Cost base for income-taxed receipts | Stepped up to USD FMV at receipt (staking, DeFi, airdrops with value) |
| Currency of computation (VA, 2026) | USD, with the USD gain converted at the CBN/NAFEM rate on the disposal date |
| Taxpayer records | Books in English, kept at least 6 years after the year of assessment the income relates to (NTAA s.31(5)); VA activity records under s.31 (NTAA Fifth Schedule para 5) |
| VASP records | Customer transactions and identification data kept at least 7 years after the last transaction (NTAA Fifth Schedule para 6(f)) |
| Penalty, failure to keep books | NGN 10,000 for a person other than a company; NGN 50,000 for a company (NTAA s.102) |