The Nigeria Revenue Service (NRS) has introduced a new set of guidelines regulating the taxation of virtual assets, providing a clearer framework for the taxation of cryptocurrency and other digital asset transactions across the country.
The guidelines, released on Monday, are designed to align with the provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025, as the Federal Government moves to strengthen tax compliance and expand revenue generation within Nigeria’s rapidly growing digital economy.
According to the NRS, the framework is targeted at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax professionals and individuals involved in virtual asset transactions.
In a public notice, the agency stated that the guidelines establish the administrative procedures governing tax obligations for digital asset activities, including registration, reporting requirements, record-keeping standards, valuation methods and the applicable tax treatment for virtual asset transactions.
The revenue agency explained that the move is part of ongoing reforms aimed at ensuring greater certainty, consistency and transparency in the administration of tax laws as digital assets continue to gain prominence within Nigeria’s financial ecosystem.
It noted that the framework is expected to encourage voluntary compliance while supporting the development of a fair and efficient tax regime for cryptocurrency and other digital assets.
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The NRS urged all stakeholders operating within the virtual asset sector to study the provisions of the guidelines and comply fully with their tax obligations.
The agency also disclosed that the document is available for download on its official website.
The latest guidelines represent another milestone in Nigeria’s evolving regulatory approach to digital assets, following the enactment of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025, which introduced sweeping reforms to the country’s tax system, including provisions covering emerging sectors such as virtual assets.
Industry observers believe the new framework will improve tax administration, boost government revenue and provide greater regulatory certainty for businesses and investors participating in Nigeria’s expanding digital economy.