₦airaland Forum

awesomeJ:
ACA's 24bn investment in ARADEL was exited at about N400bn. About N370bn gains will be taxed at 10%
(37bn)

If they had waited 4 more months the rate would have been 30% (N111bn)

Wow..
This is knowledge put to practice
Wisdom is profitable to direct.

Agbalowomeri:
Oh was this actually provided for? That's the only sensible thing to do

It's over 2hrs long.
Take your time.

For specific time-frames that touched on the capital market, watch from the timelines below:

Capital market Ngx:
1:29:18--->1:31:18

Crypto
1:44:10--->1:45:07


https://www.youtube.com/watch?v=ueynd-F0zWA

Lofty1000:
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

Yes.. only taxable on the year you sell not the full length of years you held the stock🤷

Agbalowomeri:
What if your shares owned predates the law and you sell say in five years?

Interesting question..
Well, everything thing about the old law should end this 2025.
Any assets carry over into 2026 will be based on the new law.

That said, I think they should charge one CGT on the 5th year one sells only based on the new tax law if applicable.
FG shouldn't back date and charge you CGT in the preceding 4yrs.
One never sold, neither did one utilise any gain proceed for personal use.
So why charge? 🤷

GeneralDae:
So I interpret this to mean that first your portfolio must cross 150 million, and then the aggregate net gain must be in excess of 10 million. Meaning both conditions must be true for me to be taxable if I’m interpreting it correctly.

No.. I suppose If Each criteria is met in isolation, you will pay CGT tax on either
1)150m and above
2) 10m Gain and above.

Anything less, you probably pay PIT tax on your Net gains alone(from your capital of less than 150million) within a 12month period.

brotherly:
Capital Gains Tax liability is triggered when an investor's annual portfolio turnover surpasses ₦150 million, generating a net gain in excess of ₦10 million. The tax is assessed on the aggregate net gain of the entire portfolio, rather than on the gains from individual securities.

Yes. Exactly. This butresses the interpretation from my understanding.

emmanuelewumi:
Money that would have been spent.

It is better for the investor to have been informed about his CGT liability if any immediately after the transaction

Your submission is what is reflected in the old finance law I suppose.
Each Gain on every NGX transaction was treated in isolation and taxed on CGT separately.

The new law treats your NET-GAIN for a calender year (12months period) as CGT taxable if 10m and above or 150m and above turnover for a calender yr.

What the Govt can do is to give a timeline for individual filings to avoid penalties.

Also if one makes a net loss within a yr(loss exceed gains like say -7million by Dec 2026), no CGT is paid for that year 2026.
However if one makes about 15m CGT gain the following year by December 2027, you net loss by Dec 2026 will be debited from your Net Gain of 15m by Dec 2027.
(15m-7m=8m)
You have a net Gain of 8m and you won't pay tax CGT for 2027 calender year as far as you can prove it when filing your tax returns..

crownprince2017:
My question is

At what point will government tax an investor? Will you be taxed immediately you banked the cash or they will wait for you to submit your tax returns.

It's obvious they will wait for you to return it since the time interval to pay ur CGT tax gains is 12 calender months if 10m and above.

donleo92:
Dangote is really on a dangerous part.....


This man wants full monopoly on oil and gas in Nigeria. And most people ain't seeing it that way.


See union has to be formed. The government should call Dangote to other

Isn't it possible to get an internal union?
Like a private union amongst it's members only that fights for their collective interest?
That should be accepted by Dangote Refinery.

For info purposes, Larfarge still has majority stake in Huaxin.
I still wonder the magnificent difference in control.

awesomeJ:
There are credit bureaus like CRC.
Banks may also have their internal algorithms.

OK. Gracias

awesomeJ:
It's cos those ones just give based on credit report and bank account cash flow. No security required at all. Simple and fast.

United capital wanted me to move to their brokers, but paying 1% brokerage fees would even cost me more. Like extra 0.5% on N300m monthly trades is extra 1.5m in brokerage fees.


Anyways, the whole loan situation was due to a heavy real estate project that drained my liquidity, I have cut them way down now since my liquidity has improved significantly.


But if I see a 5% monthly offer, I'll certainly still take it. Cos I need to hit 0.2% of all retail trades soon 😁😁😁.

I love the market like that.

Please who audits, gives or issues credit report?
Deposit money banks of one's account or official specialised agencies?

zendi:
https://www.tvcnews.tv/court-orders-forfeiture-of-7m-found-in-providus-bank-vaults/

Fear of EFCC, all of a sudden it has become "mystery cash".
Dat Kain "mystery"


That's how I also learnt on twitter that NNPCL that has 49% stake in LNG as Nigerian LNG , created an offshore entity in Caymans island and registered the entity as NNPC LNG with an undisclosed part of percentage of the 49% called "equity LNG".
Reason?
To avoid tax(which is legal anyway).
1)But then, isn't the tax they are running from accruing to the same FG? Why run?

2)But it raises the question of transparency in their report.

3) Dividend from that portion of NLNG doesn't return to the federation account.

Any advantage for this?
I don't buy the tax idea.
It's looking like FG is a proxy for some kind of deals.

and if the tax avoidance is true, why encourage Nigerians to pay tax if FG dey run From tax?

https://x.com/realkelvin07/status/1970377693200818299

zendi:
What a judicious usage

So, off to Instanbul just to master the art of rendering wifely support to their Chairmen husbands.
This one is more than wastefulness.
It's a grave insult to taxpayers.

But this thing cuts accross the entire public service, and not limited to Loc Govts, which I cited only as an example.
Have you heard how an unknown person dumped $7M in the vault of a Lagos branch of Providus?

Seven Million Dollars cash for God's sake, let me write it out in full. As at the last I heard, EFCC was still looking for the unknown looter, suspected to be a govt official. Meanwhile the loot has been seized by Govt

Taxpayers have many reasons to be angry in this country.

Exactly.
I support them being angry.
Guaranteed judicious use of resources as good as 85%-90% will be a good one. But even our National Budget hasn't been implemented that high to the letter. How much more tax?

zendi:
What a judicious usage

So, off to Instanbul just to master the art of rendering wifely support to their Chairmen husbands.
This one is more than wastefulness.
It's a grave insult to taxpayers.

But this thing cuts accross the entire public service, and not limited to Loc Govts, which I cited only as an example.
Have you heard how an unknown person dumped $7M in the vault of a Lagos branch of Providus?

Seven Million Dollars cash for God's sake, let me write it out in full. As at the last I heard, EFCC was still looking for the unknown looter, suspected to be a govt official. Meanwhile the loot has been seized by Govt

Taxpayers have many reasons to be angry in this country.

Ahhh.. This is a serious sth that's becoming just a joke..
How can he amaze such cash and wasn't even flagged digitally or otherwise for explanation or so. Even if na withdrawals from multiple sources.

Over ₦10.5bn!!
Damn

zendi:
Hmm, this man is saying the saying of his office. When he is invited to make remarks on taxation, will he tell people that it's punishment?

In nations of public sector transparency, trust and accountability, tax compliance should be a happy Civic obligation.

But, what of the other side, nations perceived to be high on the corruption index, aka lootocracies ?

If you're perfectly sure that your Local Govt Chairman cannot, ever, limit himself to his salary and allowances, it will be painful to the soul handing over your tax for allocation to the tiers of Govt.

Abeg make everybody dey pay tax oo, regardless.

Latest Tax usage from FAAC

Govt pay foreign debt from the reserve. Such as Eurobonds investments from foreigners or borrowed money from outside the country or fund our foreign embassies as well as pay country association dues,etc

Bulk of GTCOs 1Trillion PBT H1-2024 came from forex unrealised gains of ₦630bn shown below. Ballooing non cash-backed EPS.
So this years EPS is cash backed in comparison.

They improved as much as ₦28bn(19+9) on other Fixed-income traded instruments and Forex gains from a previous loss position!
That's efficiency in portfolio reallignment if you ask me.

leo1234:
He made the statement when gtco was selling close to #100.
Percentage dividend yield is calculated based on current price not what happened in the past. After all, some people bought gtco for less than #10.

OK.. but it won't be instant at Least unless he was confident selling out instant 15% yield on next dividend @100.
Then you are probably right to call him out.

We all know the ₦7 final dividend this year was all for the recap exercise:.
-Boost share price
-reduce issued OS..
Obviously not sustainable in the long run at least.
But they will get there organically with time.

leo1234:
This is how they want to pay dividend of 15%.


I am beginning to dislike people that speak with too much confidence these days.

Imagine the way S. Agbaja was speaking with confidence about banks delivering 15% dividend yield.

Those who bought at 40-45 early last yr before this recapitalisation are already above 10%.

In2-3yrs time, those who buy at these prices ₦80-₦100 might start hovering around 10%-12% yield..

The classical riddle:
You need to have your cake🎂 before you eat it
doesn't hold for stocks.
Which is what you are asking for.

Ironically, the reverse holds true.

Eat your cake(Invest) 🎂 then you can have it
(15% dividend yield)

GeneralDae:
Gross external reserves $43 Billion already in CBN’s book.

Update.
Your $45bn minimum year end target still on point.

ositadima1:
Sorry, I meant the final annual report that shows the complete picture.

OK..true 👍

ositadima1:
Let’s wait and see the audited results first.

are both not Audited?
Zenith(PwC)
GTCO(EY).
Or is there another audit?

ositadima1:
According to my dividend discount valuation, GTCO should be at a minimum of ₦112. Just wait for the emotional sellers to push it down a bit, then enter. As long as they can maintain this ₦8 dividend—hopefully even increase it next year—the outlook remains strong.

The downside is:
They are paying against old OS unlike Zenith.
The upside is: they are paying from their profit unlike Zenith paying from reserve if ayam not mistaken.

Agbalowomeri:
Na GTCO release results, na ACCESS dey collect wotowoto

Banks and contagion effect.

yMcy56:
They're punishing ACCESS because of their stinginess and buy-buy spree....
I expect ACCESS to surprise investors.

Meanwhile, ACCESS requesting for time extension to publish results.....
https://doclib.ngxgroup.com/Listings-site/corporate-disclosure-site/Documents/ACCESS_HOLDINGS_EXTENSION_OF_TIME_TO_PUBLISH_RESULTS.pdf

Na October be that for Q2 n Q3.
Effect of Acquisition spree

brain54:
Without laws and borders, yes...


Without religion no.

Religion is not a fundamental factor for a country to exist.


Just because it's coming from the white house many people here will agree!

Laws are not enough to cover all the nuances of life existence and interactions.

Even culture and traditions help, but still not enough.

Even personal philosophy or personality choices can more from religion than constitutional laws.

Religion comes strong with nuances in personal relationships with populace and with oneself which laws can be abused or cant be categorically defined.

emmanuelewumi:
I guess the only guy among them probably died while trying to rescue the ladies

highly possible.
also I read somewhere that they instinctively followed the basement exit route for safety.
The basement is where the inverters and source of the fire originated from.
You can imagine the smoke inhalation there.

It's unfortunate really.

GeneralDae:
I think what CBN is also considering is FAAC. This FAAC has always been an issue to the CBN even from the time of Soludo but they tame it via money instruments.

We are now sharing FAAC of over 2 trillion naira every month and a lot of these settle in banks because lots of state Governors use private banks unlike the FG who uses CBN.

The 50% CRR is to absorb this monthly until our growth rate becomes good enough to absorb the flow and inflation gets below 10%. We are coming from an era where we printed 23 trillion naira and now we have increased naira FAAC almost fourfold.

The CBN needs to keep removing as much naira from the system and destroying them (ie not redeploying them to the system by giving them to FG to spend again).

Taiwo Oyedele has advised we share FAAC daily to solve this problem because it’s always been an headache to CBN but even more with increased FAAC.

I believe the 50% would be reduced to 25% soon but I get your point that if we are applying 50% CRR then we don’t need necessarily high interest rates to control money supply and inflation.

hmm..insight

lionshare:
With cumulative inflation from 1999 to 2024 exceeding 2,400%, does it make sense to adopt this as the current effective inflation rate?

Lol.. Well, there should be a time frame. especially beginning from when govt takes power.

Also, yes 2400% should be compared with the effective purchasing power of the passes or minimum wage increase rate within the same time frame