Nigeria’s tax authority has introduced guidelines governing virtual asset taxation, setting out how cryptocurrency and other digital asset transactions will be treated under the country’s new tax regime.
The Nigeria Revenue Service (NRS) announced the framework on Monday.
It sets registration, reporting and record-keeping requirements for taxpayers, virtual asset service providers , peer-to-peer marketplace operators, tax practitioners and other industry participants.
Individual gains from virtual asset transactions are subject to personal income tax rates of up to 25%. Companies other than qualifying small businesses face the standard 30% corporate income tax rate on taxable profits.
The guidelines also establish valuation principles and define the tax treatment of virtual asset transactions under the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The framework is intended to strengthen compliance as the federal government seeks to expand its revenue base through the digital economy.
It follows years of uncertainty over tax obligations arising from cryptocurrency trading in Nigeria. Although regulators had introduced licensing and oversight requirements for digital asset businesses, operators and investors lacked detailed tax guidance.
The Nigeria Tax Act, which took effect on 1 January 2026, recognises digital and virtual assets as chargeable assets.
The Nigeria Tax Administration Act requires taxable participants involved in activities such as virtual asset trading, exchange, custody and issuance to register for tax purposes.
The guidelines complement wider reforms, including President Bola Tinubu’s Presidential Executive Order on Virtual Assets Coordination, 2026.
The order established a Virtual Asset Council to improve co-operation among regulators.
The council is chaired by the Central Bank of Nigeria, with the NRS and Securities and Exchange Commission (SEC) serving as vice-chairs.
Its other members include the Nigerian Financial Intelligence Unit and Office of the National Security Adviser.
Nigeria’s SEC separately regulates virtual asset service providers and digital asset operators under the Investments and Securities Act, 2025.
Industry participants will need to assess the practical implications of the guidelines as digital asset businesses already face requirements from the NRS, SEC, Central Bank of Nigeria and other agencies.
The NRS said the guidelines were intended to provide greater certainty and improve compliance across Nigeria’s virtual asset market.
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