Nigeria Tax Act, 2025 · NTA s.33–s.34
Gains when you sell an asset
Gains on disposing of property, shares, foreign currency and digital assets are chargeable, with a relief for smaller share disposals.
Who this lands on: Anyone selling business assets, shares or other property.
Gains accruing in a year of assessment are chargeable to tax, and all forms of property — shares, options, rights, debts, digital or virtual assets, incorporeal property and foreign currency — are chargeable assets (NTA s.33, s.34(1)).
Shares in a Nigerian company are relieved where, in any 12 consecutive months, disposal proceeds are under ₦150,000,000 in aggregate and the chargeable gain does not exceed ₦10,000,000 (NTA s.34(1)(a)(i)).
The relief also applies where the proceeds are reinvested within the same year of assessment in shares in the same or another Nigerian company. Reinvest only part and tax accrues proportionately on the part you kept.
Shares transferred between an approved borrower and lender in a regulated securities lending transaction are not a chargeable disposal.
Virtual asset disposals follow the circular's own dollar-gain method rather than a naira-in, naira-out comparison.