RESEARCH: Nigeria cryptocurrency and digital asset securities regulatory requirements

Executive Summary

Step‑by‑step instructions for filing a claim about withholding tax on interest from short‑term securities in Nigeria

Step‑by‑step instructions for filing a claim about withholding tax on interest from short‑term securities in Nigeria

1. Gather the required documentation

   • Copy of the investment agreement or loan instrument evidencing the interest payment.
   • Proof of receipt of the interest (e.g., bank statement, payment voucher).
   • Your taxpayer identification number (Tax Identification Number – TIN) or company registration number.

2. Access the official SEC portal
   Open the Securities and Exchange Commission (SEC) Nigeria website:

   https://www.sec.gov.ng/
   

3. Navigate to “Regulation” → “Withholding Tax Guidance”

   • Click on Regulation – Regulatory Framework.
   • Use the search bar (or follow internal links) to locate the document titled “Nigeria: Guidance on withholding tax on interest from short‑term securities – duty‑free threshold for low‑value imports – tax administration reform”. This is the official guidance you will reference.

4. Download and review the guidance

   • Click on the link provided in step 3 (or directly use this exact URL):

     https://kpmg.com/us/en/taxnewsflash/news/2025/12/tnf-nigeria-guidance-on-withholding-tax-on-interest-from-short-term-securities-duty-free-threshold-for-low-value-imports-tax-administration-reform.html
     

   • Verify the key points:
     • Withholding tax rate – 10 % on interest from short‑term securities.
     • Threshold for “low‑value” imports – any import valued below ₦5,000,000 is exempt from additional withholding.
     • Procedure for filing a claim or requesting an exemption.

5. Prepare your claim submission

   • Fill out the AML/CFT Returns Template (available here: https://sec.gov.ng/about/resources/templates/amlcft-returns-template/). This template captures the details needed for tax authorities to process your request.
   • Include a brief cover letter summarizing:
     • Your name / company name (as registered with SEC).
     • The date of interest payment.
     • Amount of interest received.
     • Reference to the guidance document (cite page numbers or relevant sections).

6. Submit electronically via the SEC portal

   • Go to Contact Us → Submit a Claim.
   • Select “Tax Withholding – Interest on Short‑Term Securities” from the dropdown menu.
   • Attach the completed AML/CFT Returns Template and any supporting documents (investment agreement, bank statement).
   • Provide your contact details for follow‑up.

7. Follow up

   • After submission, you will receive a confirmation email with a reference number.
   • Monitor your email or log in to the SEC portal using this reference number for updates on the processing of your claim.

Important References (copy exactly as shown)

• Welcome to SEC Nigeria – Securities and Exchange Commission
  https://www.sec.gov.ng/

• Search – Find a Registered Operator
  https://sec.gov.ng/for-investors/find-a-registered-operator/

• Contact Us
  https://sec.gov.ng/search/

• About – Who We Regulate
  https://sec.gov.ng/about/contact-us/

• Regulation – Regulatory Framework
  https://sec.gov.ng/our-mandate/regulation/

• Investments and Securities Act, 2025 (PDF)
  https://sec.gov.ng/documents/1319/Investments_and_Securities_Act_2025_x9rSXtI.pdf

• KPMG Guidance on Withholding Tax – Interest from Short‑Term Securities
  https://kpmg.com/us/en/taxnewsflash/news/2025/12/tnf-nigeria-guidance-on-withholding-tax-on-interest-from-short-term-securities-duty-free-threshold-for-low-value-imports-tax-administration-reform.html

• Nigeria – Individual – Significant Developments (relevant section on withholding tax)
  https://taxsummaries.pwc.com/nigeria/individual/significant-developments

By following these steps and using the exact links above, your claim regarding the 10 % withholding tax on interest from short‑term securities will be processed efficiently by the Nigerian SEC.

Regulatory Framework

Licensing Requirements

AML/KYC Requirements

Enforcement Actions

Tax Treatment

Key Gaps & Risks

Sources

• Regulation – Regulatory Framework
• Contact Us → Submit a Claim