Nigeria: Cryptocurrency taxes 2026

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By Eunice Olaleye

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If you trade, stake, or hold crypto in Nigeria, the rules are changing. The government has made it clear that digital assets are now part of the tax system.

From January 1, 2026, profits from Bitcoin, Ethereum, stablecoins, NFTs, and other digital assets are expected to fall under Nigeria’s national tax framework.

Let’s look at cryptocurrency taxes in the eyes of the Federal Inland Revenue Service (FIRS), now known as the Nigerian Revenue Service (NRS) in 2026, and what every crypto holder should know.

The law now covers digital assets

Under the new tax reforms, Nigeria has expanded its tax base to include income from digital activities. This means income from cryptocurrency may now be taxable for Nigerian residents, under the Nigerian Tax Administration Act (NTAA) 2025.

In the past, crypto taxation was unclear due to the industry’s decentralisation. But the government has now given the NRS the authority and digital tools to track and tax crypto profits.

The cryptocurrency taxes framework does confirm that earnings from crypto are treated like other forms of income.

You pay tax only on profit

A common misunderstanding is that the government will tax your crypto wallet balance. Well, that is untrue. You only pay tax when you make a profit.

For example, if you buy Bitcoin worth N1,000,000 and later sell it for N2,000,000, your taxable profit is N1,000,000. However, if you hold your crypto without selling it, there is no gain, so there’ll be no need for tax.

Under this cryptocurrency tax framework, the tax applies only when profits are realised.

Income thresholds for individuals

This new tax system also includes a basic income threshold. Individuals do not pay income tax on the first N800,000 of their total annual income. This includes income from salary, business, or crypto profits.

For example, if your salary is N500,000 and your crypto profit is N200,000. Your total income is N700,000, which is still below the taxable bracket.

The larger investors also get relief. If your total asset disposals in a year are below N150 million, and your profits are below N10 million, you may qualify for exemptions under Capital Gains Tax (CGT) rules.

Different crypto activities may be taxed differently

Not all crypto earnings are treated the same. The treatment depends on how the income is earned, such as trading cryptocurrencies, staking rewards, mining income, NFT sales, and/or DeFi yield farming.

Each activity may fall under different tax categories. Because of this, understanding the rule on cryptocurrency taxes in 2026 is important for anyone active in the crypto space.

Keep clear records

The biggest challenge for most crypto holders is not the tax itself, but keeping accurate records. To calculate your profit correctly, you must track every transaction.

So, what are the important details to include?

The date and time of the transaction
The type of transaction (buy, sell, swap, mining, or staking)
The number of tokens involved
The value in Naira at that time
The purpose of the transaction
Any network or fees paid

Crypto tax software can help automate this process by connecting to your wallets and exchanges. Keeping records well makes it easier to comply with cryptocurrency tax requirements under the Nigeria Tax Administration Act (NTAA) 2025 and the Nigerian Tax Act 2025 and avoid problems later.

Who handles crypto tax compliance in Nigeria?

Two government bodies oversee cryptocurrency regulation and taxation in Nigeria.

Nigerian Revenue Service (NRS)

The NRS is responsible for tax administration. It assesses and collects taxes and ensures individuals and companies follow tax rules

Security and Exchange Commission (SEC)

The SEC regulates the crypto market. It oversees exchanges, wallet providers, and other virtual-asset businesses to protect users and maintain market stability.

The collaboration between these institutions supports the enforcement of the 2026 cryptocurrency tax framework.

How do you file your crypto taxes?

Crypto taxes are filed through the NRS TaxPro Max system, Nigeria’s online platform for tax registration, filing, and payments.

It is, however, expected of both individuals and businesses involved in crypto activities to use this system. Also, taxable businesses may be required to adopt an Electronic Fiscal System (EFS), which was once introduced by the Nigerian Revenue Service. This system is expected to create a digital record for taxable transactions.

Crypto traders must also file a Capital Gains Tax (CGT) return twice a year: