The Federal Government of Nigeria has unveiled new regulations governing the taxation of cryptocurrency transactions and assets, as part of its broader effort to modernise the tax framework and capture revenue from digital financial activities. The rules, which take effect in 2026, aim to clarify how crypto gains will be taxed and to strengthen compliance among investors, traders, and service providers.
Under the new framework, individuals and businesses engaging in crypto trading, staking, lending, and other digital asset transactions will be required to report gains and losses for tax purposes. Although specific rates and thresholds are still being finalised by the Federal Inland Revenue Service (FIRS), the policy direction signals that crypto profits will be treated similarly to capital gains and other forms of investment income.
In a statement issued alongside the policy update, government officials emphasised that the measures are designed not to stifle innovation but to bring transparency, accountability, and fiscal fairness to the rapidly growing digital asset space. They also noted that the rules aim to protect investors, reduce tax avoidance, and align Nigeria’s tax regime with international best practices.
The government’s move comes amid increasing adoption of cryptocurrencies by Nigerian citizens, who have been among the most active global crypto users, particularly for peer-to-peer transactions, remittances, and savings. Authorities believe that a clear tax regime will help integrate digital assets into the mainstream economy while generating revenue for national development.
The new rules are expected to include provisions for:
Tax treatment of capital gains from crypto disposals Reporting requirements for exchanges and custodians Guidelines on mining, staking, and decentralized finance (DeFi) activities Mechanisms for withholding and compliance enforcement
Industry experts say that this development marks a significant milestone in formalising Nigeria’s crypto economy, but they also caution that successful implementation will hinge on robust regulatory guidance, public education, and cooperation between tax authorities and digital asset platforms.
OYOGist observes that while the policy represents a step toward fiscal integration of digital assets, many crypto stakeholders are eager for detailed regulations, clear compliance timelines, and practical reporting tools.
The Federal Government has indicated that further details, including the specific tax rates and guidelines, will be published in the coming weeks ahead of full implementation in 2026.
