Nigeria Imposes 1% Crypto Tax Withholding for Exchanges

Nigeria has issued detailed crypto tax rules that require exchanges and P2P marketplace operators to collect, report, and remit taxes arising from virtual asset transactions.

The Nigeria Revenue Service published the Guidelines on Taxation of Virtual Assets on July 31, which explains how the Nigeria Tax Act 2025 and Nigeria Tax Administration Act 2025 apply to digital assets.

According to the guidelines, platforms must withhold 1% from taxable crypto disposals, while stablecoin sales remain exempt. Staking rewards, mining income, airdrops, and DeFi rewards may face 10% withholding when classified as taxable income.