Nigeria Crypto Tax 2026: New NRS Rules - Stamp Duty, WHT and PIT Explained

Nigeria's tax system was rebuilt in 2026: the Nigeria Tax Act 2025 replaced FIRS with the Nigeria Revenue Service (NRS), and on 31 July 2026 the NRS published its first detailed virtual asset guidelines. Stamp duty, withholding tax and VAT now touch everyday crypto activity.

What Changed in 2026

• New tax authority: the Nigeria Tax Act 2025 and NTAA 2025 took effect on 1 January 2026, with FIRS becoming the Nigeria Revenue Service (NRS).
• First virtual asset rules: the NRS Guidelines on Virtual Assets, issued 31 July 2026 - 1.5% stamp duty on fiat-crypto ramps, 1% withholding tax on disposals and 7.5% VAT on exchange fees.
• Stock gains moved: chargeable gains on stocks now fall under progressive PIT (0-25%) instead of the old flat 10% CGT.
• Staking and mining: 10% withholding tax applies.
• VASP duties: virtual asset service providers must collect customer TINs; penalties reach up to NGN 10 million.

The NRS Virtual Asset Rules, in Detail

Stamp duty 1.5%: charged on fiat-to-crypto and crypto-to-fiat ramps - in other words, when naira enters or leaves a virtual asset service provider.

Withholding tax 1%: withheld on disposals of virtual assets.

VAT 7.5%: applies to exchange fees charged by platforms.

VASP obligations: platforms must collect customer TINs. Non-compliant VASPs face penalties of up to NGN 10 million.

How Your Gains Are Taxed

Crypto gains are taxed at progressive personal income tax rates. The first NGN 800,000 of annual gains is exempt, after which rates step up at 15%, 18%, 21%, 23% and 25%. Importantly, gains are computed in USD - so keep USD-denominated records of every transaction.

Staking, Mining and the New Stock Rules

Staking and mining: a 10% withholding tax applies to staking and mining rewards.

Stocks: chargeable gains on shares now fall under progressive PIT at 0-25% instead of the old flat 10% capital gains tax. That is a major shift for stock investors - modest gains can now be taxed lightly, while high earners pay more.

Staying Compliant in 2026

Register for a TIN with the NRS if you have not already, use compliant exchanges that collect TINs and withhold correctly, and keep USD-denominated records - gains are computed in USD, so a naira-only spreadsheet will cause headaches at filing time.

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