Nigeria sets 10% tax rate on crypto rewards

• Nigeria has issued crypto tax rules requiring digital asset platforms to collect, report and remit specified taxes.
• Platforms must withhold 1% on taxable disposals and 10% on staking, mining, airdrops and decentralised finance rewards.
• The guidelines implement Nigeria’s existing tax laws for virtual assets following a broader tax overhaul effective from 1 January 2026.

Nigeria’s Revenue Service has ordered crypto exchanges and peer-to-peer marketplaces to withhold 1% from proceeds on taxable digital asset disposals.

Staking, mining, airdrops and decentralised finance face a 10% withholding rate, while stablecoin sales are exempt from the 1% rate.

Income tax deducted at source and stamp duty “shall be remitted to the Service in the originating token,” the Nigeria Revenue Service said.

Token-to-fiat and fiat-to-token transactions face a 1.5% stamp duty, while value-added tax must be paid in the payment currency.

Withheld amounts count towards final income tax liabilities, while companies other than small businesses face a 30% income tax rate.

Nigeria’s wider tax overhaul took effect on 1 January 2026 and requires virtual asset providers to report customer and transaction information.

The new framework replaced the previous 10% capital gains tax treatment introduced for crypto disposals under Nigeria’s Finance Act 2023.