Nigeria’s revenue agency has issued guidelines requiring crypto platforms and peer-to-peer marketplaces to collect, report and remit taxes. Platforms must withhold 1% on taxable disposals of crypto assets, 10% on staking, mining, airdrops and DeFi, and 1.5% stamp duty on token-to-fiat and fiat-to-token transfers. Income tax deducted at source and stamp duty may be paid in the originating token of the transaction, while VAT must be remitted in fiat currency. Stablecoin sales are exempt from the 1% withholding tax, and companies other than small companies face a 30% tax rate.
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