The Nigeria Revenue Service (NRS) has released comprehensive guidelines on the taxation of cryptocurrency and other virtual assets, establishing a regulatory framework in line with the Nigeria Tax Act, 2025 and the Nigeria Tax Administration Act, 2025.
The new guidelines are targeted at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners and individuals engaged in virtual asset transactions. They provide clear provisions on registration, reporting, record-keeping, valuation principles and the tax treatment of digital asset transactions.
According to the NRS, the guidelines are part of broader efforts to improve tax administration, promote voluntary compliance and provide greater clarity and consistency as virtual assets become increasingly integrated into Nigeria’s financial system. The agency said the reforms are designed to strengthen transparency while expanding the country’s tax base within the rapidly growing digital economy.
The NRS urged all affected stakeholders to study the new guidelines and ensure full compliance with their tax obligations. It added that the document is available on its official website, noting that the initiative marks another significant step in Nigeria’s evolving regulatory framework for digital assets and is expected to boost investor confidence, improve revenue generation and support the sustainable growth of the country’s digital economy.
