₦airaland Forum

awesomeJ:
Look up the meaning of speculated and stop abusing it. You may also copy my post to chatGpt to have it explain it to you.

Turn on the Think longer button on the AI if you use a free plan.

Validated:
So Dangote does not want union, too bad. Even in developed economies, unions are allowed. You cannot continue the monopoly, unionization is a MUST HAVE.

awesomeJ:
You're exactly right, I commented without even reading the actual results, I just read the earnings summary.

Thanks for pointing this out.

Now, a better comment:

Naira closed May 29thth 2025 at 1586.15

It closed August 28th 2025 at 1535.47

That's a N50 gain in the intervening period
If their net FX exposure is $70 million (that is for both credit and the net value of trade receivables and trade payables in fx). Then it explains the N3.5bn gain.

Loan from their parent company alone is $40m and the FX gains of about N2bn is explicitly mentioned.

Is naira likely to gain N50 every quarter over their current reporting year?

Maybe, maybe not. That would imply naira at 1385 by May 31st 2026.

It's important to mention that the naira has already gained another N60 from the level it was at in May. If the gains continue till November (next month end), they should report another c. 4bn in Fx gains all things being equal.


Then the big one, the 12bn other income.

How likely is that to reoccur?

Well they had some assets (depot facilities) across the country which they carry at a value of about 1bn on their books.

They sold just N137m worth for about 12bn.

That's nearly 100x (87x)

By interpolation, since the real estate market isn't going into depression, the remaining 876m could still be sold for another 76bn in profits.


So those are what the numbers show currently.

Thanks again for making me correct the lazy comment I initially dropped.


Please add the new context @emmaodet.

Happy new month guys, happy new quarter (our favorite Q4) and happy independence!

emmanuelewumi:
How can they have capital gain tax on turnover?

SonofElElyonRet:
You said you wanted to discourage prostitution by heavy taxation... That's what I said is akin to increasing fuel price to discourage smuggling to neighbouring countries. Why not just enforce the relevant laws to stop the vice or crime It's not rocket science. Taxing them heavily is by implication recognizing the trade, dude!
You yourself said the man said he wasn't sure if he should refer to the prostitute scenario "in a church".. na you take your mouth talk am. Networks Club is a Christian body. RCCG is a Christian body. Outsiders were not barred but essentially for their members.
p.s. There was opening and closing prayer and they gave praises to the christian God during the prayers. Abi did you see them saying Muslim prayer there?

SonofElElyonRet:
Epistle according to Chimex..
RCCG organized the programme for its members but outsiders were not barred. I can assure you that the regular praise and worship, prayer session etc were probably included in the programme. Na church programme first and foremost
As for taxing them heavily to stop the act, you sound like those who advocated increase in petrol price to stop smuggling to neighbouring countries

SonofElElyonRet:
*Organized by RCCG City of David Branch for its members.. you can fact check.
*---------
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GeeKudi:
If he pays CGT on a total volume of N120m, what then is the essence of the N150m threshold?

unite4real:
FIRS will carry out a SUBSTANCE OVER FORM (Beneficial Ownership test)

in this case you have to ensure that funding the accounts were not from you. If you send money to their account before they transferred it to the brokerage account, then it will be tracked.

Also make sure that the proceeds from sales do not end up in your account. If they sell and the money goes to your account through their account, then you are the beneficiary.

Unless you have to allow them use the proceeds or gains that they cash out to solve their personal problems without your interventions.

these tax guys are prepared on paper but whether they are physical and technically prepared is what i doubt strongly

SonofElElyonRet:
@1 and 2: So why was he quick to admit it shouldn't be said in Church? That was gathering of believers. Church isn't the building. It was inappropriate for the setting
@3: The goal was to say they want your money as tax, no matter the source
@4:If the bible used the analogy of the prostitute, it was to ultimately teach Israel to forsake their "immorality/promiscuity" with other gods and be faithful to Yahweh. Which moral does collecting tax from prostitutes teach? Not on all fours..

Anyway, you've had your say and I've had mine. We agree to disagree...

mikeapollo:
Do you know some joint accounts do not have BVN?

handsomebolanle:
Isn’t it better for other employers to sack every PENGASSAN member??
Let every employer stop all this nonsense.

Let’s not get petty on these matter.

Joyful365:
So many egg heads on this thread are praising Dangote. It shows why Nigeria is this sick and lacking development.

There's no single country that has developed where the working class has low purchasing power due to poor wages and poor working conditions.

Unions are there to enforce the right of workers, especially in a capitalist environment fueled by greed and a corrupt, incompetent government.

Nigeria is where it is today because 80% of the working class are underpaid and ill-treated - whether in the private sector or in the public sector.

Don't let the greed of what you stand to gain by purchasing Dangote refinery shares make you turn a blind eye to the bad and greedy behaviour of the capitalist.

Whatever you will gain, whatever wealth you will build, you won't have the security and peace to enjoy it in a society where majority of the working class is living from hand to mouth and engaging in unethical conducts to make ends meet.

There's no hiding place for any of you.

And I like the fact that the west is tightening its visa laws and making it harder for you to run there after supporting nonsense in your country. You will stay back here to enjoy the monster you all create because of greed and shortsightedness.

You heard of the Arise TV lady whose life has been taken in the president's own FCT. Criminals like those who did this act are created because of the hopelessness created by greedy monopolists and capitalists who take advantage of the unemployment situation in a country to underpay workers and make them work under unfavorable conditions.

There's no hiding place for anyone, innocent or not, if you continue to support a society fueled by greed and economic deprivation of majority.

You won't enjoy your wealth in peace. You can not enjoy your wealth in peace in such environment.

pluto09:
The reversal of the sale of the refineries by Yar Adua was one of the decisions taking by a sitting president that really pained me.

Another one was by GEJ when he allowed vested interest to bully prof Barth Nnaji out of the power ministry.

handsomebolanle:
Lols. I understand your plight… This Union in a way check/balance the foreign investors. Workers were literally treated a slaves.
It’s sad it’s our own person that wants to go this route.

Trust me, many IOcs have been on this path and they all knows how it turns out. I’m sure many would have called Dangote on this .

Let’s see what the resolution will be

Itzlinda:
That's exactly how he says it. It was inappropriate for him he said that. He said the law doesn't care if the income is legal or not

KarlTom:
Are you sure about the bolded?

Anyway, I don't think he will ban them because conservatively 70% of these unionists/workers are linked to the Niger Delta and he would not want them to 'return to the creeks'...

GeneralDae:
And PENGASSAN workers are still there collecting salaries and paying dues to PENGASSAN on non functional refineries 😊😆.
Who do us this thing? 😊.

pluto09:
I don't think Yar Adua was bullied by anyone. He was more of a welfarist who believed that state assets should not be sold.

SonofElElyonRet:
Saying below in church is gross

President Bola Tinubu’s tax czar, Taiwo Oyedele, says all Nigerians, including ladies engaging in prostitution popularly called “runs,” are mandated to pay tax per the new tax reforms set to be enforced in January 2026.

In the eyes of the new tax law, Mr Oyedele explained, there are no distinctions between legitimate income and illicit funds.

Mr Oyedele, who chairs the Presidential Committee on Fiscal Policies and Reforms, on Saturday, educated members of the Redeemed Christian Church of God, City of David parish in Lagos, on the reforms of the tax law signed by Mr Tinubu in June.

The administration, according to Mr Oyedele, will levy taxes on all services rendered in exchange for money, a rule he explained applies to sexual transactions.

“If somebody is doing run girls, they go and look for men to sleep with; you know that’s a service,” Mr Oyedele explained to the RCCG congregation. “They will pay tax on it.”

The tax czar further stated that the law itself does not have the capacity to distinguish between income obtained from legitimate means and illegitimate ones; hence, all income is deemed taxable.

“One thing about the tax law is it doesn’t separate whether what you’re doing is legitimate or not; it doesn’t even ask you. It just asks you whether you have an income. Did you get it from rendering a service or providing a good? You pay tax,” Mr Oyedele said.

KarlTom:
I'm already working on this...

The more, the merrier

mikeapollo:
So what happens if I have more than 1 TIN?
Don't tell me it is not possible

Mpeace:
I totally agree with you. As long as CGT is not treated as WHT which is taken from source, it's only when the money hits the account that you are taxed, reinvested money/aggregate sale will not be taxed until it hits the account.

unite4real:
Units I guess

leo1234:
I million dollars 💸

jonnysessy:
Loading ? I don't understand what you mean :

And why FUGAZP, what is P doing in FUGAZ ? Are you now telling me that Providus is now a first-tier bank ?

KarlTom:
...

leo1234:
Providus becomes 9th largest bank after merger with Unity bank


https://businessday.ng/banking/article/providus-becomes-9th-largest-bank-after-merger-with-unity-bank/

Streetinvestor2:
He can not work with brokers
If u sell a stock and the money has not left ur broker account to ur bank account. It can not be seen as money leaving and won't be considered as gain yet.It is believed the money is still thr for reinvestment which is exempted from CGT
It is only when money hits ur bank account it can be scrutinized for gains.

unite4real:
This form of rebasing is the most appropriate thing to do. I have a feeling that this CGT matter will end up in court because from all the webinars I have attended and enquiries I have made, the CGT is retrospective which is a terrible decision by the authors

Lofty1000:
If you watch the video very well
The guy say that they work closely with broker and will get all your information from them

emmanuelewumi:
That should be the logical thing to do. The application should not be retrogressive.

The price of those stocks from 1st January 2026 should be assumed as the purchase price...

Assuming Presco is N1500 on the 1st of January 2026. 100k units will be worth N150 million.

If the investor sells all his holdings in December 2026 at N2500 per share or got approximately N250 million from the sale. Then he will pay CGT on the N100 million profit.


I am of the opinion that they also need to give allowance for inflation. A good investment ought to hedge inflation

Lofty1000:
This is the voice of the master
The master has spoken what more can I say
Salute!!
And anyhow it turns (good or bad) I still have to salute to the master.
Salute!!!

Bro don't sleep on these ooo
Any thing met on your portfolio will be considered
Any green regardless of the year of acquisition will be copied and sent to tax office