The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has released new guidelines for the taxation of virtual assets, setting out a formal framework for how digital asset activities will be administered and taxed in Nigeria.
The guidelines apply to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other persons engaged in virtual asset activities.
The development marks a significant step in Nigeria’s efforts to bring the rapidly expanding virtual asset ecosystem within a clearer and more structured tax administration framework.
New Compliance Requirements
According to a public notice signed by the management of the NRS and JRB, the guidelines establish applicable tax obligations for virtual asset transactions, including registration, reporting and record-keeping requirements.
They also provide principles for the valuation of virtual assets and clarify the tax treatment of transactions involving digital assets.
The framework is to be administered in accordance with the provisions of the Nigeria Tax Act, 2025 and the Nigeria Tax Administration Act, 2025.
NRS Seeks Greater Transparency
The Revenue Service said the issuance of the guidelines is aimed at providing greater clarity, certainty and consistency in the administration of Nigeria’s tax laws as the virtual asset ecosystem continues to evolve rapidly.
It said the framework is also designed to promote voluntary compliance, enhance transparency and support the development of a fair and efficient tax system for digital asset transactions.
The NRS urged affected taxpayers and stakeholders to familiarise themselves with the provisions of the guidelines and ensure compliance with their applicable tax obligations.
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The Guidelines on the Taxation of Virtual Assets are available for download through the official websites of the Nigeria Revenue Service and the Joint Revenue Board.
The move places virtual asset operators and other participants on clearer notice that digital asset transactions are now subject to a defined administrative framework under Nigeria’s current tax laws.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.