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Nigeria: Guidance on direct and indirect taxation of virtual assets

Information Circular No. 2026/21 provides comprehensive framework for tax treatment of various categories of virtual assets.

October 7, 2026

The Nigeria Revenue Service (NRS) on July 31, 2026, issued Information Circular No. 2026/21 (Guidelines on the Taxation of Virtual Assets), providing a comprehensive framework for the registration, tax obligations, reporting, filing, enforcement, and further clarity on transactions that relate to virtual assets in Nigeria.

The circular seeks to provide certainty on the tax treatment of various categories of virtual assets, including cryptocurrencies, stablecoins, tokenized securities, utility tokens, non-fungible tokens (NFTs), and decentralized finance (DeFi) activities. In addition, the circular clarifies the responsibilities of taxpayers, virtual asset service providers (VASPs), peer-to-peer (P2P) marketplace operators, and other stakeholders involved in the virtual asset ecosystem.

Read a October 2026 report prepared by the KPMG member firm in Nigeria

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