Nigeria’s new tax framework for virtual assets could significantly reshape the country’s digital-asset market by imposing new collection, reporting and compliance obligations on virtual asset service providers (VASPs), PwC Nigeria said.

The Nigeria Revenue Service (NRS) published Information Circular No. 2026/21, Guidelines on the Taxation of Virtual Assets, on July 31, 2026.

The guidelines represent the first comprehensive administrative framework for taxing virtual assets in Nigeria, coming as digital-asset activity becomes an increasingly significant component of the economy, PwC said in its report.

It said the guidelines marked a further shift in Nigeria’s regulatory approach from restrictions towards formalisation of the virtual-asset industry.

However, it noted that the guidelines did not specify an effective date, despite introducing obligations that are not expressly contained in the Nigeria Tax Act (NTA) or Nigeria Tax Administration Act (NTAA).

PwC said a single virtual-asset transaction could trigger multiple tax liabilities depending on the nature of the transaction and the applicable taxable event.

PwC flagged potential implications of the stamp-duty provision, noting that the NRS position could imply a broader 1.5 per cent stamp-duty exposure for transfers of goods and intangible property.

It added that transactions of N10 million or less should, based on the law, be exempt from stamp duty, and urged the NRS and VASPs to consider the issue when configuring their systems.