Nigeria Issues Guidelines for Taxing Virtual Assets

The Nigerian government has introduced new guidelines for taxing virtual assets and cryptocurrencies in the country. The Nigeria Revenue Service (NRS) issued the guidelines, which provide a framework for handling digital asset transactions.

The introduction of the guidelines comes after President Bola Tinubu signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise digital asset regulation and curb financial fraud. The NRS said the guidelines are in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.

The new framework classifies virtual assets into three broad categories: cryptocurrencies and exchange tokens; fiat-referenced stablecoins; and virtual assets representing financial or investment rights. For stablecoins, gains will be determined based on the underlying fiat currency, while no withholding tax will apply at the point of disposal.