This is not a bug but a design issue. The documentation is aware of this.
I think searching include files in the directory from which the assembler was called is not a good feature, mainly because this complicates the creation of single-project makefiles that don't recurse into the sources' directories.
BTW, there is a simple workaround for this on makefiles. Still, the majority of C compilers search quoted includes on the source's directory by default and nasm should do the same thing.
JJ
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> [search includes on the source's directory]
NASM can not add the path of the input file name to the include file path,
because standard C doesn't provide a means for extracting or obtaining the
path component of a file name. In fact, such a means would be incompatible
with certain operating systems. (Thus it is up to the user to provide a -I
option which replicates the path that is part of the input file name.)