Crypto Tax
Calculator
Calculate Nigerian tax on cryptocurrency transactions — buying, selling, trading, and staking. Capital gains tax on crypto profits under the NTA 2025.
Crypto Transaction
Cryptocurrency Taxation in Nigeria
Under the NTA 2025, gains from selling, trading, or disposing of digital assets (Bitcoin, Ethereum, USDT, etc.) are treated as capital gains. Individuals pay 10% CGT on the net gain. Companies pay 30%. The gain is calculated as the disposal proceeds minus the acquisition cost minus any allowable transaction fees.
What Counts as a Taxable Event?
Taxable events include: selling crypto for Naira or any fiat currency, trading one cryptocurrency for another, using crypto to purchase goods or services, and receiving crypto as payment for work. Simply holding crypto (HODL) is not taxable — tax only applies when you dispose of or exchange the asset.
Staking and Mining
Income from crypto staking, yield farming, and mining is treated as ordinary income and taxed under PAYE bands for individuals. The fair market value at the time of receipt determines the taxable amount. When you later sell the staked/mined crypto, any additional gain is subject to CGT.
Frequently Asked Questions
No. Merely holding cryptocurrency without selling, trading, or spending it is not a taxable event. Tax only applies when you dispose of the asset.
Use the weighted average cost method: total amount spent on all purchases divided by total units acquired. This gives your average cost per unit for CGT calculation.
Yes. Swapping Bitcoin for Ethereum (or any crypto-to-crypto trade) is a disposal event. Calculate the gain based on the Naira value of the crypto received minus the cost basis of the crypto given up.
Airdrops are treated as income at fair market value when received. When you later sell the airdropped tokens, any gain above the value at receipt is subject to CGT.
Yes. Capital losses from crypto disposals can be offset against other capital gains in the same year or carried forward for up to 4 years. Losses cannot offset salary or business income.
The NRS is working with Nigerian financial institutions and exchanges to share transaction data. Even peer-to-peer (P2P) transactions through banks can be flagged through bank account monitoring.
If your total capital gains from all sources (including crypto) in a tax year are below ₦1 million, you may qualify for the small gains exemption. This applies to individuals only.
Declare crypto gains in the capital gains section of your annual tax return. Report each disposal separately with dates, amounts, and gain calculations. Keep exchange records and wallet transaction histories.
Yes. Converting USDT to Naira is a disposal. If the Naira value at disposal exceeds your cost basis (the Naira value when you acquired the USDT), the difference is a taxable gain.
DeFi yields (from lending, liquidity provision, or staking) are treated as income when received. The fair market value in Naira at the time of receipt is your taxable income, subject to PAYE bands.
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