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The short answer
Rent on Nigerian property is paid in naira, so moving it abroad means converting it through an authorised dealer bank. The clearest right to repatriate belongs to foreign capital that was brought in through a bank and documented on a Certificate of Capital Importation (CCI), which lets profits and capital be remitted net of tax; without one, you rely on the ordinary FX routes. Either way, keep the tenancy agreement, rent receipts, withholding tax credit notes and evidence of tax paid, because banks and tax authorities ask for them.
Owning a flat or house at home is common among Nigerians abroad. Collecting the rent is the easy part; turning naira rent into pounds, dollars or euros in your account abroad is where landlords get stuck. The rules depend on how you paid for the property in the first place.
When a CCI matters
A Certificate of Capital Importation is issued by an authorised dealer bank, on behalf of the CBN, when foreign capital comes into Nigeria for investment. A Mondaq guide (19 September 2024) explains that it is issued within 24 hours of the inflow, the bank files returns with the CBN within 48 hours, and it enables repatriation of dividends, profits, interest, capital and sale proceeds, net of tax, in convertible currency through an authorised dealer. Templars' FAQ notes that a CCI is not mandatory, but without it an investor cannot access the official FX market to repatriate.
| How you bought | What it means for rent |
|---|---|
| Foreign currency sent through a Nigerian bank, CCI issued | Ask the bank whether the CCI covers the property investment and whether rental profit can be remitted under it, net of tax |
| Foreign currency sent, but no CCI was requested | The inflow may be documented by bank records but not on a CCI; ask the bank what it can do |
| Paid in naira (from Nigerian savings or a naira transfer) | No CCI; rent is naira income, moved abroad through ordinary routes, or kept in naira |
CCIs are mostly used by companies and portfolio investors; whether one was issued for a personal property purchase depends on how the payment was processed. Ask the bank that received the money.
The tax side
Rent is income and is taxable in Nigeria. Where the tenant is a company, it will usually deduct withholding tax before paying you: PwC's summary of the 2024 Deduction at Source (Withholding) Regulations lists rent at 10% for corporate and individual, resident and non-resident recipients. The tenant should give you a WHT receipt. Nigeria's tax laws were rewritten from 1 January 2026, so ask your tax adviser what applies now.
Banks remitting profits under a CCI expect evidence that tax has been paid; the Mondaq guide notes that tax clearance is needed for dividend and interest remittances. Under section 72 of the Nigeria Tax Administration Act 2025, a tax clearance certificate (TCC) is to be issued within two weeks of a demand, or reasons given for refusal, and it shows income, tax payable and tax paid for the last three years.
Papers to keep, every year
- The tenancy agreement and any renewal.
- Receipts for each rent payment (verifiable ones are easier to check).
- WHT receipts from corporate tenants.
- Evidence of tax filed and paid, or a TCC.
- Agent or property manager statements, if you use one.
- For a CCI route: the CCI and the original inflow records.
Worked example
Example only. Bisi in Birmingham lets her Lekki flat to a company for ₦6,000,000 a year. The company deducts 10% WHT (₦600,000) and pays ₦5,400,000 into her naira account, with a WHT receipt. She bought the flat in naira, so there is no CCI. She keeps ₦1,400,000 in naira for service charge and repairs, and converts ₦4,000,000 when she chooses. At an illustrative all-in rate of ₦2,000 per pound, she receives £2,000 (₦4,000,000 ÷ 2,000). She keeps the tenancy agreement, the WHT receipt and her Nigerian tax records with the conversion record, because her UK tax return may also ask about foreign rental income.
What to check first
- How did the purchase money enter Nigeria, and was a CCI issued?
- Is your tenant deducting WHT, and are you getting receipts?
- Is your Nigerian tax position up to date, so you can show evidence if a bank asks?
- How does your country of residence tax foreign rental income? Ask the local tax authority.
- Do you need all of the rent abroad, or should some stay in naira for the property?
Where Pryme fits
A Pryme account, opened from any country, receives naira rent and holds USD, GBP and EUR alongside it. Rent stays in naira until you choose to Swap, and the app shows the rate and the fee before you approve. Tenants and agents can be given verifiable receipts and statements from VerifyDoc.ai (receipts). Outside Nigeria, these services are provided through regulated partners. See also the property paper trail and moving naira savings abroad.
This is general information, not tax or legal advice.
Questions people ask
Can I send my Nigerian rent income abroad?
Yes, after converting it through an authorised dealer bank. A CCI from your original investment, where one exists, gives the clearest route to remit profits net of tax.
Do I need a CCI to repatriate rent?
A CCI is not mandatory, but Templars notes that without one an investor cannot access the official FX market for repatriation under it. Without a CCI you use ordinary FX routes.
How much withholding tax does a company tenant deduct on rent?
The 2024 regulations, as summarised by PwC, set rent WHT at 10%. Ask whether any change applies under the 2026 tax laws.
What tax evidence do banks want before remitting?
Usually proof that tax has been paid, such as a tax clearance certificate, and the documents behind the income.
Sources
- Mondaq: How to successfully repatriate capital and profits in Nigeria (19 Sep 2024) · accessed Oct 2026
- Templars: Repatriation of funds and capital importation in Nigeria, FAQs (c.2020) · accessed Oct 2026
- PwC Nigeria: Highlights of the Deduction at Source (Withholding) Regulations 2024 (Jul 2024) · accessed Oct 2026
- Nigeria Tax Administration Act 2025 (gazette text) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.