Nigeria has introduced a 15% tax on cryptocurrency profits, though industry professionals are criticizing the absence of comprehensive regulatory guidelines.

New Tax Regime for Cryptocurrency Profits in Nigeria

The Nigerian government is planning to implement a new tax regime for cryptocurrency profits, beginning in January 2026.

Industry Perspectives on the Tax

Some industry experts have expressed concerns regarding the timing and potential effectiveness of the new tax. Conversely, others view it as a positive development, signifying a move towards acknowledging cryptocurrency as a recognized financial instrument.

Tax Structure and Exemptions for Traders

Details regarding the specific tax structure and any exemptions for cryptocurrency traders are forthcoming from the Nigerian government.