Tax on Forex Trading Profits in Nigeria (2026)

Nigeria Tax Act 2025: in force from 1 January 2026; individuals’ gains taxed at personal income tax rates of 0% to 25%, collected by state revenue services

Table of Contents

Nigeria rewrote its tax laws for 2026. If you make money trading forex or CFDs with a broker like FxPro, here is what changed and what to keep in mind. This is general information, not tax advice: your situation decides how your profits are taxed.

What changed on 1 January 2026

The Nigeria Tax Act 2025 came into force on 1 January 2026. For individuals, the old flat 10% capital gains tax is gone. Chargeable gains are now added to your other income and taxed at personal income tax rates, which run on a sliding scale from 0% to 25%.

Is trading income or a capital gain?

That depends on how you trade. Occasional trading can look like investment gains; frequent, organised trading can look like business income. Either way, under the new law both end up taxed at personal income tax rates for individuals, but the difference can affect what you may deduct and how you report. A tax adviser can tell you which applies to you.

Who collects the tax

Personal income tax on individuals is administered by the internal revenue service of the state where you live, for example the Lagos State Internal Revenue Service for Lagos residents. The federal tax authority sets the national rules.

Records worth keeping

Monthly statements from FxPro Direct showing deposits, withdrawals and closed trades.
Bank and card statements for every transfer to and from FxPro.
The exchange rate you got each time naira was converted to dollars or back.
Notes of any fees and charges you paid.

Good records make it simpler to work out your gains, and they help if a bank asks where incoming dollars came from. Our funding and withdrawal guides explain the money flows.

Things to watch

Losses: ask an adviser whether and how trading losses can reduce your taxable income.
Changes: the government has talked about adjusting some rates; check the current position each year.
Residence: if you live abroad for part of the year, different rules may apply.

Sources

Checked in October 2026. Found something out of date? Tell us and we will fix it.