Handling Foreign Currency Income

Many Nigerians earn in foreign currencies, especially freelancers and content creators. Here's how KeepAm handles it:

Supported Currencies

How Conversion Works

When you add foreign income:

Exchange Rate Source

We use the Central Bank of Nigeria (CBN) official rates. These are updated daily on business days.

Example

You receive $1,000 from a US client:

Tax Implications

For Nigerian tax purposes:

Tips for Foreign Currency

What About Domiciliary Accounts?

If you keep money in a domiciliary account:

Common Questions

Q: What if I'm paid via PayPal or Payoneer?

A: Log the amount you actually received in your account, after their fees.

Q: Do I pay tax when I convert to Naira?

A: No, the taxable event is when you earn the income, not when you convert.