By Daniel Oluwatobiloba Popoola
The Nigeria Revenue Service (NRS) has issued the Guidelines on the Taxation of Virtual Assets, providing a clear administrative framework for taxing virtual assets in the country.
The Service disclosed this in a statement issued on Saturday, 8 August,2026, directed at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners, and other persons engaged in virtual asset activities.
According to the statement, the Guidelines set out applicable tax obligations, including registration, reporting and record-keeping requirements, valuation principles, and the tax treatment of virtual asset transactions, in line with the provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The NRS explained that the issuance of the Guidelines was part of its commitment to providing clarity, certainty and consistency in the administration of Nigeria’s tax laws as they relate to the rapidly evolving virtual asset ecosystem.
The Service stated that the Guidelines were intended to promote voluntary compliance, enhance transparency, and support the development of a fair and efficient tax framework for digital asset transactions.
It urged all affected taxpayers and stakeholders to familiarise themselves with the provisions of the Guidelines and ensure full compliance with the applicable tax obligations.
The Guidelines on the Taxation of Virtual Assets are available for download on the Nigeria Revenue Service website at www.nrs.gov.ng.
