The Federal Government of Nigeria has announced that virtual currencies, including cryptocurrencies, will now be subject to taxation under the country’s new tax reform framework.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, confirmed the development, stating that the inclusion of digital assets in Nigeria’s tax net is part of broader efforts to modernize fiscal policy and expand government revenue sources.
According to Oyedele, the reform framework is designed to ensure fairness and efficiency in taxation, while addressing emerging sectors of the economy such as fintech and digital trading. He emphasized that the move aligns Nigeria with global best practices, as many countries have already introduced tax regimes for cryptocurrencies and other virtual assets.
The announcement is expected to have significant implications for crypto traders, exchanges, and investors operating within Nigeria, as compliance requirements will now extend to digital transactions.
