The Nigeria Revenue Service (NRS) has released new guidelines outlining the taxation framework for cryptocurrency and other virtual assets in Nigeria, in line with provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The guidelines are targeted at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax professionals and individuals involved in virtual asset activities as the Federal Government moves to expand the tax base and improve compliance within the digital economy.
In a public notice issued on Monday, the NRS announced the formal release of the Guidelines on the Taxation of Virtual Assets, describing the document as an administrative framework for regulating tax obligations associated with digital asset transactions.
According to the agency, the guidelines provide clarity on key areas including registration requirements, reporting and record-keeping obligations, valuation principles and the tax treatment of virtual asset transactions.
“The Guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria. They set out the applicable tax obligations including registration, reporting and record-keeping obligations, valuation principles, and the tax treatment of virtual asset transactions,” the NRS stated.
The revenue service said the move forms part of broader reforms aimed at improving certainty, transparency and consistency in tax administration as digital assets become increasingly integrated into Nigeria’s financial system.
The agency added that the framework is designed to encourage voluntary compliance, enhance transparency and support the development of a fair and efficient tax system for digital asset activities.
The NRS advised all affected individuals and businesses to study the guidelines and comply with their tax responsibilities.
“All affected taxpayers and stakeholders are encouraged to familiarise themselves with the provisions of the Guidelines and ensure full compliance with the applicable tax obligations,” the agency said.
The guidelines are available for download on the official website of the Nigeria Revenue Service.
The release represents another development in Nigeria’s evolving approach to cryptocurrency regulation. While authorities previously focused on restrictions around digital assets, recent reforms have shifted towards establishing clearer legal, tax and regulatory structures for the sector.
The new framework follows the enactment of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025, which introduced major changes to the country’s tax system, including provisions covering emerging areas such as virtual assets.
The reforms are expected to strengthen tax administration, increase government revenue and provide greater certainty for businesses and investors operating within Nigeria’s growing digital economy.
