If a US employer vests you RSUs or lets you exercise stock options while you're tax-resident in Nigeria, that value is taxable Nigerian income the moment it vests or you exercise — not when you eventually sell — and since January 1, 2026, you're the one responsible for calculating, declaring, and paying it yourself.
This catches a lot of Nigerian tech workers off guard, because equity compensation feels abstract compared to a dollar salary hitting a domiciliary account. But under the Nigeria Tax Act, 2025, which took effect this year, tax residents owe Personal Income Tax on worldwide income — and RSUs and options are employment income, full stop.
What Actually Changed on January 1, 2026
Before this year, enforcement on foreign-sourced income was patchy: if your salary or equity never touched a Nigerian bank account, in practice few people declared it. The Nigeria Tax Act, 2025 closes that gap by shifting the trigger from *where your employer sits* to *your own tax residency*. If you're a Nigerian tax resident — broadly, present in Nigeria for 183+ days in a 12-month period, or with your main economic ties here — your global income is now formally in scope, including salary, bonuses, and equity from a US employer with no Nigerian presence at all (Tribune, Techpoint Africa). Non-residents remain untaxed on foreign income (SmartSMSSolutions).
The tax-free threshold is ₦800,000, and rates climb progressively to a 25% top marginal band (Techpoint Africa) — competitive by global standards, but it now applies to equity income most people never used to report at all.
RSUs: Taxed on Vesting, Not on Grant
The grant date — when your offer letter says you'll receive 1,000 RSUs over four years — isn't a taxable event. Nothing has been earned yet; it's a promise. Tax attaches when each tranche actually vests, because that's when you have unconditional shares with real value (DLA Piper Global Equity Guide).
The taxable amount is the fair market value of the shares on the vesting date, converted to naira, treated as employment income, and taxed at your marginal PAYE rate for that year. If your employer runs Nigerian payroll and withholds correctly, this may already be handled. If you're paid directly by a US entity with no Nigerian payroll — common for remote hires — nothing is withheld, and the obligation to report and pay sits entirely with you.
Stock Options: Taxed on Exercise, Not on Vesting
Options work differently from RSUs. Vesting an option just means you now have the *right* to buy shares at a fixed strike price — there's no income yet because you haven't received anything of value. The taxable moment is exercise: when you actually pay the strike price and take the shares.
Based on longstanding Lagos State Internal Revenue Service guidance that still shapes practice under the new Act, the taxable amount is the spread — fair market value at exercise minus what you paid — treated as employment income and taxed at graduated PAYE rates (Stransact). For a private US company, fair market value usually comes from the company's own 409A valuation; for a public company, it's simply the market price that day.
Selling the Shares Later: Capital Gains Tax
A third, separate tax event happens if you later sell the vested RSU shares or exercised option shares for more than they were worth when you received them. That appreciation is a capital gain, taxed since January 2026 at ordinary personal income tax band rates rather than a flat rate — up to 30% for the gain, though most retail-sized disposals fall under the exemption: gains under ₦10 million and total proceeds under ₦150 million in a 12-month period aren't taxed (SmartSMSSolutions, Stransact). Reinvesting proceeds into shares of Nigerian companies within the same assessment year can also exempt the gain.
So a single equity grant can generate up to three separate tax calculations over its life: vesting/exercise (employment income), and eventual sale (capital gains) — each with its own valuation date.
Converting Vest-Date Value to Naira
Because the tax charge is denominated in naira, you need the USD value of the shares on the exact vesting or exercise date, converted at an official rate for that date — not the rate when you eventually move money or the rate you check months later. Keep the vesting confirmation from your equity platform (Carta, Shareworks, E*TRADE) alongside the exchange rate you used, since both numbers are what a self-assessment — or a later audit — will ask for.
Self-Assessment: Your US Employer Isn't Filing Anything for You
A US company with no Nigerian entity has no PAYE obligation to the Nigeria Revenue Service (NRS, formerly FIRS) and won't file anything on your behalf. That means you must register with the NRS, self-declare the value of vested RSUs, exercised options, and any capital gains, and pay what's owed — with annual returns due by 31 March of the following year (TechCabal). Late registration and late filing both carry escalating monthly penalties, so this isn't a box to leave for later.
What to Set Aside, Concretely
A workable rule of thumb: the moment a tranche vests (or you exercise options), convert the fair market value to naira at that day's rate, and set aside roughly your expected marginal rate — often in the 15–25% range once you're above the ₦800,000 threshold — in a separate account you don't touch. Do this per tranche, not once a year, because RSU vesting schedules usually trigger quarterly and each vest is its own taxable event with its own FX rate.
Common Mistakes That Get Expensive
The two errors that come up most: treating the *grant* date as taxable instead of vesting/exercise (which leads to under-setting-aside because grants often show a much smaller headline number than mature vests), and forgetting that a later sale is a *second*, independent tax event with its own gain calculation — not covered by whatever was already paid at vesting.
Where a Tool Like Kampe Fits In
Kampe is a read-only tool that pulls together your Nigerian and foreign-currency accounts into one honest number, converts balances using a transparent, timestamped rate, and helps you plan ahead of dates like tax deadlines and salary or vest events — it never moves, holds, or touches your money. For someone tracking equity vesting alongside salary and NGN spending, having one place that shows the FX rate and date behind every number makes it easier to set aside the right amount each time a tranche vests, rather than reconstructing it all at filing time. This article is general information, not tax advice — for your specific equity plan and residency status, confirm the numbers with a Nigerian tax professional before filing.