Crypto Tax in Nigeria

A structured summary of how individual crypto taxation works in Nigeria — the tax regime, headline rate, accepted cost-basis methods, exemptions and anti-avoidance rules.

General information generated from our jurisdiction dataset, not tax advice. Rules change — verify with a local professional.

Individual crypto tax — Nigeria

General Information

Default Framework

IFRS

Crypto Classification

Intangible Asset, Inventory

Tax Year

Calendar Year (M12)

Functional Currency

NGN

FX Source (Reporting)

CBN

FX Source (Tax)

FIRS

Transaction Rate

Daily Spot

Hyperinflationary

✗ No

Individual Tax — Regime

Tax Regime

Capital Gains

10% CGT on disposal of assets. SEC has recognized crypto. Regulatory framework evolving.

Tax Rate

10%

10% CGT under CGT Act

Individual Tax — Cost Basis

Measurement Basis

Historical Cost

Cost Method

FIFO

Method Electable

✓ Yes

Permitted Methods

FIFO, WAVG

Country Override

Standard

Individual Tax — Exemptions

CGT Exempt

✗ No

Holding Period

—

HP Benefit

—

Annual Exemption

—

Threshold Exemption

—

Individual Tax — Anti-Avoidance

Wash Sale

✗ Off

Same-Day Rule

✗ No

Superficial Loss

✗ No

Loss Restriction

Unrestricted

Loss Carryforward

Unlimited

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Is crypto taxed for individuals in Nigeria?

Nigeria applies a Capital Gains treatment to individual crypto. The table above shows the headline rate, cost-basis method and any exemptions.

Which cost-basis method does Nigeria use?

See the cost-basis section above for the default method and the alternatives Nigeria permits for individuals.

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