Nigeria Slaps 1.5% Stamp Duty on Bitcoin Transactions

The Nigerian Revenue Service (NRS) has introduced a new tax policy for cryptocurrency transactions in Nigeria, imposing a 1.5% stamp duty on eligible trades.

Registered crypto exchanges and Virtual Asset Service Providers (VASPs) will collect and remit the tax directly from digital asset transactions, without requiring users to make separate payments.

The NRS provided an example of how the new system works: if a buyer pays ₦1 million to purchase 1 Bitcoin, the exchange will deduct 0.015 BTC, representing the 1.5% stamp duty, before crediting the customer's wallet.

The policy aims to bring digital assets into Nigeria's formal tax system and improve tax compliance across the country's rapidly growing cryptocurrency market.