Do you pay tax on crypto and forex in Nigeria? (2026)

Short answer: yes — profits are taxable. Since 1 January 2026, the Nigeria Tax Act 2025 brings crypto gains (and, on the same logic, forex trading profits) into the tax net, and exchanges now report your transactions to the tax office. Here's the honest, plain-English version — and what it does not mean.

Not tax advice. This is general information on a new, evolving law. Your position depends on how and how often you trade — confirm with the Nigeria Revenue Service (NRS) or a tax professional before you file.

Crypto: gains are now taxed at your income-tax band

The big change: profits on digital assets are no longer a flat 10%. They're treated as chargeable gains and taxed at the same progressive bands as your income — 0% to 25%, with the first ₦800,000 of gains tax-free.

• The taxable event is disposal — selling, swapping or spending crypto for more than it cost you. Simply holding isn't taxed.
• Gain = disposal value − cost basis (after fees), in naira at the time of the transaction, typically on a first-in-first-out (FIFO) basis.
• Crypto you earn — salary, freelance pay, staking or mining rewards — is taxed as ordinary income at your band, not as a gain.

There's a small-disposal exemption: broadly, if your total disposals in the year are under ₦150 million and your gains under ₦10 million, you may fall outside CGT — but confirm the exact scope with the NRS, as thresholds and their application are new.

Work out a rough figure with our capital-gains-tax calculator, and compare platforms on our crypto exchanges page. For the legal backdrop, see is crypto legal in Nigeria?

Exchanges now report your trades

From 2026, crypto exchanges operating in Nigeria must submit transaction-level data for every user to the NRS. In other words, gains are increasingly visible — "they'll never know" is not a plan. Filing is done through the NRS TaxPro Max system, and your NIN now serves as your tax identifier.

Forex: trading profits are taxable too

Nigeria's brokers are regulated offshore (see is forex legal in Nigeria?), so no broker withholds Nigerian tax for you — it's self-assessment. On the same NTA 2025 logic, profits from forex/CFD trading are taxable at your income-tax band. How they're classified matters:

• Occasional trading tends to be treated as capital gains.
• Frequent, business-like trading can be treated as trading income.

Because that line affects what you owe, this is exactly where a tax professional earns their fee. Compare regulated brokers on our forex brokers page.

How to stay on the right side of it

1. Keep records — every buy, sell, swap and the naira value at the time.
2. Separate earnings from gains — they're taxed differently.
3. Register your NIN as your tax ID and use TaxPro Max.
4. Get advice if your trading is frequent or your gains are large.

Frequently asked questions

Do I pay tax just for holding crypto? No — tax applies when you dispose of it at a profit (sell, swap or spend). Holding isn't a taxable event.

Is crypto still a flat 10%? No. Under the 2026 law, individuals' gains are taxed at the progressive income-tax bands (0–25%), with the first ₦800,000 of gains free.

Does my forex broker deduct my tax? No — offshore brokers don't withhold Nigerian tax. You self-assess and file with the NRS.

Educational information, not tax advice. Based on the Nigeria Tax Act / Tax Administration Act 2025 (effective 1 January 2026) and 2026 guidance; the law is new and evolving — confirm your position with the NRS or a tax professional.