Nigerian Investment Tax Calculator
Understand withholding tax (WHT) on your investment income. Know exactly how much you keep after tax.
Understanding WHT in Nigeria
The Nigerian tax authority (FIRS) imposes 10% Withholding Tax (WHT) on interest from Treasury Bills, money market funds and fixed deposits, and on dividends. FGN Savings Bonds — and other Federal Government bonds — remain exempt under the Nigeria Tax Act 2025. Treasury Bills lost their exemption from 28 October 2025. This calculator shows your net after-tax return for each instrument type.
Educational purposes only. Tax laws change. Consult a qualified Nigerian tax professional (ICAN/CITN member) or FIRS for authoritative guidance.
Investment Income
Tax Breakdown
10% WHTWHT Rate
10%
Withholding Tax Applied
₦500.0K
10%
₦50.0K
₦450.0K
| Gross Investment Income | ₦500,000.00 |
| Capital Gain (if applicable) | ₦0.00 |
| Total Pre-Tax Income | ₦500,000.00 |
| WHT Rate | 10% |
| WHT Deducted | ₦50,000.00 |
| Capital Gains Tax (CGT) | ₦0.00 |
| Net Income After Tax | ₦450,000.00 |
| Effective Tax Rate (on total) | 10.00% |
Tax Treatment: Fixed Deposit
Interest earned on bank Fixed Deposits is subject to 10% Withholding Tax, deducted by the bank before crediting your account. This applies to all tenors and amounts.
Consider FGN Savings Bonds for tax efficiency if liquidity timing permits.
Nigerian Investment WHT Rate Table
Withholding Tax rates per FIRS / CBN regulations as at 2026.
| Instrument | WHT Rate | Legal Basis | Notes |
|---|---|---|---|
| FGN Savings Bond | 0% | Nigeria Tax Act 2025 | Fully tax-exempt |
| Nigerian Treasury Bills | 10% | FIRS / Nigeria Tax Act 2025 | WHT since 28 Oct 2025 |
| Money Market Fund | 10% | PITA | Applied to distributions |
| Fixed Deposit | 10% | PITA | Applied to interest income |
| Dividends | 10% | CITA | Applied at source |
| Dollar Fund | Varies | PITA / treaties | Depends on structure |
Post-Tax Yield Comparison
Typical yields after 10% WHT is applied. Tax-exempt instruments keep their full nominal rate.
Note for Diaspora Investors
If you are a non-resident Nigerian, double taxation treaties between Nigeria and your country of residence (UK, US, Canada, Germany and others) may further reduce or eliminate your WHT obligations. Consult a registered Nigerian tax professional or your bank's diaspora services for guidance specific to your situation.
This calculator is for informational purposes only. Tax laws change and individual circumstances vary. Consult a registered tax professional or FIRS for authoritative guidance on your specific tax obligations.