Selling property, shares, or another asset at a profit can trigger Capital Gains Tax (CGT) — but how it's taxed depends on who's selling, and several common disposals are exempt outright.
Yes. Under NTA §28(2)(a)(v)/§58, an individual's chargeable gain is aggregated into their total taxable income and taxed at the same progressive PAYE bands, not a separate flat rate. A company's chargeable gain (§27(1)/§56) is folded into total profits and taxed at the existing 0%/30% Companies Income Tax rate instead.
A dwelling-house used as your principal private residence is fully exempt under §51 (once per lifetime, no minimum-ownership period). Nigerian-company shares are exempt under §34(1)(a) if disposal proceeds are under ₦150,000,000 and the gain is ₦10,000,000 or less, or if the shares were fully reinvested in Nigerian-company shares within the same year, or transferred in a regulated securities-lending transaction. Personal effects and chattels (e.g. jewelry, furniture, art, household items) are exempt under §52 if disposal proceeds are ₦5,000,000 or less, or 3x the annual minimum wage if that is higher. A motor vehicle used solely for private or non-profit purposes is exempt under §53 for individuals, up to two vehicles per calendar year, with no value cap.
The NRS Guidelines on the Taxation of Virtual Assets (Circular 2026/21) split digital assets into six categories with different treatment: Cryptocurrency (e.g. Bitcoin, Ethereum) and NFT disposals are taxed with a 1% withholding on gross proceeds; Security / investment token disposals are taxed the same way, since §184(h)'s Nigerian-shares exemption reaches only tokenised Nigerian shares specifically, not security tokens generally; Stablecoin (e.g. USDT, USDC) and Utility / governance token disposal gains are taxed with no disposal withholding (utility/governance token income received from staking, mining, or DeFi is taxed separately, as income at receipt, not as a disposal gain); and Sovereign digital currency (eNaira / CBDC) has no virtual-asset tax obligations at all.
Sovereign digital currency — the eNaira or a foreign central bank digital currency — is treated as fiat, not a chargeable asset, so disposing of it never triggers Capital Gains Tax or virtual-asset withholding under the NRS Guidelines.
There's no small-transaction or de-minimis exemption for crypto or other digital-asset disposals under Nigerian law — §52's personal-chattels exemption is restricted to tangible movable property, and digital assets are intangible by the NTA's own definition. Every taxable digital-asset disposal is chargeable regardless of size.
Estimate CGT on a real disposal, including the exemption checks, with TaxLane's CGT calculator.
Yes. Under NTA §28(2)(a)(v)/§58, an individual's chargeable gain is aggregated into their total taxable income and taxed at the same progressive PAYE bands, not a separate flat rate. A company's chargeable gain (§27(1)/§56) is folded into total profits and taxed at the existing 0%/30% Companies Income Tax rate instead.
A dwelling-house used as your principal private residence is fully exempt under §51 (once per lifetime, no minimum-ownership period). Nigerian-company shares are exempt under §34(1)(a) if disposal proceeds are under ₦150,000,000 and the gain is ₦10,000,000 or less, or if the shares were fully reinvested in Nigerian-company shares within the same year, or transferred in a regulated securities-lending transaction. Personal effects and chattels (e.g. jewelry, furniture, art, household items) are exempt under §52 if disposal proceeds are ₦5,000,000 or less, or 3x the annual minimum wage if that is higher. A motor vehicle used solely for private or non-profit purposes is exempt under §53 for individuals, up to two vehicles per calendar year, with no value cap.
There's no small-transaction or de-minimis exemption for crypto or other digital-asset disposals under Nigerian law — §52's personal-chattels exemption is restricted to tangible movable property, and digital assets are intangible by the NTA's own definition. Every taxable digital-asset disposal is chargeable regardless of size.
Sovereign digital currency — the eNaira or a foreign central bank digital currency — is treated as fiat, not a chargeable asset, so disposing of it never triggers Capital Gains Tax or virtual-asset withholding under the NRS Guidelines.
Yes, for Cryptocurrency (e.g. Bitcoin, Ethereum), Security / investment token, NFT — VASPs (virtual asset service providers) are required to withhold 1% of your gross disposal proceeds and remit it, whether the disposal is a gain or a loss. Credit what was withheld against your final liability when you file your annual return.
No — for guidance only, not tax advice.