Do Nigerians Living Abroad Need to File Personal Income Tax in Nigeria If They Have Nigerian Bank Accounts for Investments and Transfers?

Short answer: It depends on your tax residency and where your income comes from.

Not everyone living outside Nigeria must file Nigerian Personal Income Tax.

Let me explain simply 👇

Does Tax Filing Apply to Nigerians Living Outside Nigeria?

Under Nigeria’s tax law (Personal Income Tax Act), your obligation depends on:

1. Where You Live (Tax Residency)

You’re considered tax resident in Nigeria if:

You live in Nigeria for 183 days or more in a year

You have your main business in Nigeria

Your employer is in Nigeria

If you live abroad permanently, you may not be required to file Personal Income Tax in Nigeria.

Your Situation (Based on Your Question)

You said:

You live outside Nigeria

You do business outside Nigeria

You only have Nigerian bank account

You use it for stock trading

You send money to family & friends

Here is what applies:

Case 1: Foreign Income Only

If:

Your income is earned outside Nigeria

Business is outside Nigeria

Employment is outside Nigeria

Then:

✅ You may not need to file Personal Income Tax in Nigeria

Because Nigeria generally taxes Nigerian residents, not non-residents.

Case 2: Nigerian Income Exists

You may need to file if you earn income from Nigeria like:

Nigerian salary

Nigerian business income

Rental income from Nigeria

Dividends from Nigerian companies

Nigerian consulting income

In this case, you may need to file with:

Federal Inland Revenue Service (sometimes)

OR

Your state tax authority like

Lagos State Internal Revenue Service

What About Stock Trading in Nigeria?

If you only:

Buy Nigerian stocks

Receive dividends

Then:

Good news 👇

Dividend income is usually:

✅ Already taxed at 10% Withholding Tax

So:

You may not need to file separately.

Sending Money to Family & Friends

This is:

❌ Not taxable

❌ Not income

❌ No tax filing required

So you’re safe there.

Simple Rule

You likely do NOT need to file if:

✔ You live abroad

✔ You earn abroad

✔ Only use Nigerian bank for investment

You may need to file if:

✔ You earn income from Nigeria

One Important Tip

Many Nigerians abroad still file Nil Returns to:

Maintain tax record

Avoid future issues

For visa / loan / investment proof

Not compulsory — but sometimes helpful.

Since you’re active in investment discussions (like your FGN bonds, stocks, etc.), this becomes useful if you plan:

Getting bank loans

Large investments

Business registration later

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