₦airaland Forum

HesInMe:
Quit this nonsense. I don't own a single Presco stock (though I wish I did). But we all have a stake in Nigeria's attractiveness as a destination for private investment. These sort of actions, which I'm glad to see the Edo government distancing itself from, hurt investor confidence and affects all of us -- shareholders or not. A rising tide lifts all boats.

People sabi English for this forum ooo!
Sometimes I wonder why my mama and papa make me go school for village, and not one of the Cambridge/Oxford International Montessori Schools. Me too for dey speak better grammar for here instead of the "nigbati, nigbati" wey I dey speak now.

crownprince2017:
Some people will claim they are fighting for a better Nigeria where companies can thrive and n generate wealth for her investors but will be happy at any slight bad news[b][/b] even though they are not verified.
I wondered the difference between them and the people they claimed are the problems of the state.

Where is integrity?

Just thinking out loud

People are not really happy at the bad news; but they believe that bad things are happening because matters are not being handled properly in the nation e.g. injustice, bad governance (in principle) or a particular bad govt (i.e. politics).
If citizens are cared for, happy, motivated and appreciated, they will always defend their country/govt.

awesomeJ:
Again CGT really no longer exists, it's been subsumed by CIT and PIT.

There's already provision to reduce CIT to 25% next year, hence the reason capital gains will be taxed at that rate cos it'll be reckoned as part of CIT.

For individuals, the relevant law is PIT, and there is nothing to suggest that a 25% flat rate is consistent with the new law or even the existing PIT rates.

Raider76:
The abraka-dabra continues. The NNPCL is just being quoted as saying they will partner with a private sector company in 2026. The link is below. The NNPCL said they were considering this same option during Kyari's time, just before they abandoned it and proceeded to restart the refinery. Let's see how the government will play this before the 2027 elections.

https://www.google.com/amp/s/businessday.ng/energy/article/nnpc-to-engage-private-partners-to-rebuild-refineries-ojulari/%3famp

The biggest mistake Oando would ever make is to get involved in any NNPC refinery matter!
They should stay clear and avoid the controversies, conspiracy theories, misinformation, politicking, etc that such move would bring.

Toluway:
Is this man o k.?
This is still unacceptable!

https://businessday.ng/business-economy/article/fg-plans-cgt-reduction-to-25-in-2026-taiwo-oyedele/

I am beginning to think this Taiwo Oyedele does not know what he is talking about. He seems to be talking anyhow in desperation to please and impress the govt at all costs.
Who reduced the CGT rate from 30% (as passed by law) to 25%? For individuals, how did they determine that every person (or CG gain of N10m and above) is assessable to PIT at 25%?
Without the NASS amending the CGT law, any implementation of same contrary to what the law says is a breach of the law and provides a perfect opportunity for the implementation to be injuncted or scrapped all together.
Their demonic fixation on extorting and stealing from investors will surely hit the rocks! Clueless, reckless, money-sucking govt with nothing to show for all the revenue from subsidy removal, energy tariff hikes, floating the naira and countless loans taken all within 2 years.

Sirchiboy:
Nigerian man sells his house in Lagos for N60m, relocates to UK where he lives in one-room apartment with his two children

I pray the 2 kids get accepted by the UK govt for permanent residency or as citizens. With that, the man would recover and regain whatever losses he suffers currently.
He must have taken such decision with some serious considerations.

Locotrader:
Market to welcome T+2 as Nov 28 approaches.

ASI likely to gain +5% to +12% between late Nov and December.

T+2 will

1. Improve liquidity more than expected

2. Foreign portfolio investors will return because settlement now aligns with global standards

3. Brokers will increase trading volumes

4. Year-end optimism[b] (“Santa rally”) kicks in

5. No major negative policy or FX shock as the year ends.


What you will see:

Banking stocks jump first (Zenith, GTCO, UBA, Access)

Insurance stocks pick up volume

Big-cap industrials (BUA, Dangote, MTN) benefit from foreign inflow

Penny stocks will become liquid and rally due to sentiments


👉 Finally Japaulgold and Royalex will bounce back.

Happy weekend to you all.
We will be back in the market from next week for our Xmas Ram.

The CGT would destroy all the highlighted items if it is not explicitly scrapped by Jan1. Nothing good would happen in the NGX until the public is satisfied with the CGT issue.

H

ojesymsym:
Few points I was able to gather from the session.


Before now we had a CDT act so unlike before where we had different tax acts and documents, we now have one signle law on anything tax.
Filings are to be done 2 times a year. June and December. Transactions that occur between Jan and June are to be filed in June, ditto for June to December in December.
CGT applies to gains in securities and capital market.
Loses can set off from other chargeable gains which means you can use losses from one asset sale to offset gains from another asset within the same assessment year. The old CGT law did not allow this until the act of 2020.
Non resident is liable to tax on gains made from Nigeria
The provision now also ensures that FDI also have to pay CGT even if they use SPV to run their business in Nigeria
One way to avoid paying CGT is to use the gains to buy another security within same calendar year irrespective of whether you made a gain of 10M or not.
Bonds and FG securities are still likely to be excempted
Timing your disposal can also help in reducing your CGT
You can use your loss making assets to offset your gains when you sell both within same period
Risked aversed people can focus more on dividend gaining asset since that dividends only attract 10% WHT
When filling your returns for CGT, all your refunds should provable. Contract documents come in place here
Same for when you reinvest.
Use all of those details to self declare your gains. Do not wait for the tax man to come and help you calculate.
Know what is taxable and not taxable, do not misclassify.
Crypto will also be liable to CGT
Identify Tax Exempt Table Income Portfolio abd assign more resources to them
Looks like even mutual funds are CGT taxaable (This one I was not clear on)

All the above would be meaningless trash if they go ahead with this useless CGT. The market will crash beyond crash! Extortionists wanting to cash in on investors' capital and risk

nosa2:
As sad as this sounds, the fact is that so far the insecurity is affecting only the economically irrelevant population of Nigeria and as such I don't see it having much of an impact on the earnings of companies on the NGX

How could you say such or describe people, human beings as ''economically irrelevant population'' of Nigeria?
These people are farmers, they are traders, they are consumers, they are teachers, students, etc. They contribute to the economy and GDP of the nation.
The performance of stock markets (all over the world) is not only about earnings of companies. Stock markets are driven by news, information among other factors.
If we are fortunate to be living in the city, let us appreciate people living in remote parts of the country, they also contribute to the economy and cannot be described as ''economically irrelevant''.
News of insecurity in the nation surely affects foreign investments

Dialpad:
I hope this taxation thing will not backfire on this government.

You want to copy the west but you don't treat your citizens the way they treat theirs.

The only thing you do is to make promises, I even heard that they can go into your account and deduct taxes.

That's when you will know Nigerians no get joy.

Don't mind the clueless govt and its tax man called Taiwo Oyedele. It was this same man that said prostitutes are supposed to pay tax, and his govt would be shameless enough to collect such taxes!

FreeStuffsNG:
Kudos to the Ghanaian police too. They acted on the intelligence by Nigeria Police to apprehend him in Ghana and handed him over to our diligent Police officers.

Ghana has seemingly become a second home for people who commit crimes in Nigeria then run to Ghana for cover.

Nigeria Police really did a great job in the investigation of this crime. Our officers deployed high tech to locate, track and monitor his calls and movement till he was apprehended in Ghana.

Exactly the reason some Ghanaians are reacting recently about the influx of criminal-minded Nigerians into their county

jonnysessy:
When the bears take over market, the topic of discussion changes. NSEMPA is a place to feel the pulse of the nation while relaxing and waiting for when market will pick up. I am still waiting for when Santa rally will happen so that i can offload some meaningless stocks in my portfolio. Or is there no such rally as we are approaching December ?

Today is a new dawn, we watch the way of the market today.

True. Insecurity in the nation is having a toll on NGX

nosa2:
This opinion is at huge variance from reality. Lets just agree that we are where we are and we should try and profit from where we are

which or whose ''reality''?

These retards don't stop deluding themselves.

Gotocourt:
The United States also entered the war by bombing three Iranian nuclear sites in a grave violation of international law.


IRAN still had choice to disobey 🤷🏿

US bombed only 1 nuclear sites; Israel bombed 2.

nosa2:
I dont know how well you follow govt policy but two things happened after the #OccupyOjota Protests; firstly GEJ made funding funding for the Almajiri schools a priority and secondly they pushed for incentives to be given to Dangote, or anybody, to build a refinery.

The first was because the government realized that it would be next to impossible to develop the country given the level of ignorance the citizens displayed during the protests. And the second was a bid to give the country's economy a fighting chance when the collapse inevitably happened.

What you call luck is actually a well thought out plan to cushion the effect of the ignorance of the average Nigerian on economic policy.

Most Nigerians think their government is stupid/wicked when the reality is that the biggest problem we have as a nation is that Nigeria is a country where you have to fight/trick the people to help them.

Please, don't let us allude Dangote Refinery to any incentives from GEJ.
Several licenses for refineries were issued by FG but nothing came out of the exercise. There were no incentives to anybody. GEJ wanted to remove the subsidy but it was still based on importation of refined products with no end in sight.
Dangote took the decision to build his private refinery after the botched attempt to buy FG refineries. His initial destination was Ogun state but former Governor Amosun frustrated him, hence Governor Tinubu came in with more favourable terms and better cooperation. That is how he sited it in Lagos.
With the benefit of hindsight, GEJ's presidency was better than Tinubu's presidency (so far)., but GEJ did not give any incentives to Dangote refinery. Dangote himself has talked about the refinery many times and he always mentioned Tinubu as the person that identified with his vision to establish the refinery and he acknowledges him for that.
Like I used to say, Tinubu did well as governor, but he has failed as a president

nosa2:
I hope you don't think I believe we made the right decision? That decision has caused thousands of deaths and immeasurable hardship on millions of Nigerians. But ultimately it was Nigerians that made the decision and it is Nigerians that are suffering the effects.

At the end of the day fuel subsidy is gone but it just took total economic collapse for Nigerians to finally see what their leaders at the time saw. Now we have finally made the right decision I have come back to profit from it. Same way when i saw that we were making the wrong decision I left the country financially and watched as all hell broke loose from the sidelines.

We have never made the right decision! Even up to date, the FG never made the right decision.!
The only right thing that happened, maybe by providence or luck, is that Dangote built a functional refinery! That is our saving grace, which makes it seem as if the govt made a right decision. Without DR, the forex rate could be about N2000-2,500 and we would be doomed

nosa2:
We made the decision and we are where we are. At the end of the day a country is governed by minority say majority way. I am not in the business of telling people I told you so. I am in the business of taking care of myself and my family. Nigerians can decide what they want and I am in the business of crafting and executing a plan that will ultimately make myself and my family make the best of whatever decision Nigerians choose to make.

Fair enough.
We should just be mindful of how we parrot some economic terminologies and jargons that do not align to our situation. It is not everything the IMF/World Bank tells us that makes good economic sense, so we should be bold to pick the right ones and reject the bad ones.
For instance, they would always advise African countries to devalue their currencies so their goods and exports could be more competitive on the international market, but they would never advise the Europeans to do same.

NgeneUkwenu:
Customer Dada Ni! Eka abo sir! ;

The Unholy Trinity and fruitless political sourjourn of Alhaji @atiku from 1998 till date.

1998 - 2006 ➡️ PDP
2006 - 2010 ➡️ ACN
2010 - 2013 ↩️ PDP
2014 - 2018 ➡️ APC
2018 - 2024↩️ PDP
2024 - date ➡️ ADC

The question now is, after 2027 failure... Where?

Anywhere that he wants to go and the people want him. There is no ideological difference between the parties, hence the value is the same

nosa2:
I don't know how old you are but the growth was largely driven by telecoms liberalization and bank consolidation. The next step to push to industrialization was liberalization of the energy sector but the people resisted the govt when they tried to implement the reforms.

The people resisted because they failed to understand that their decisions ultimately affected their future. Now that the future is here the people are learning and crying. This is how nations are built. Nigerians are now learning that there are future consequences to their current decisions.

How do you expect rational citizens of an oil-producing country to understand or accept liberalization of the energy sector based on endless import of refined petroleum products, and ever-weakening forex rates?
Does it make any economic sense to you, if you are not into importation of refined products?
Liberalization should be based on domestic refining of crude, to serve as a spring board for further value addition in the energy value chain, which the govt failed to do with the 4 refineries until Dangote refinery came on board.

Mfunkynation:
I have never experienced this with Morgan capital?
That's why I am asking if it's the normal norm now.
If person sells today, he won't have access to the money to buy another in the same day. Damn!

My comment is a general one, not specific to Morgan Capital's or any other platform.
But if you discuss with Morgan Capital, they may be able to help you buy immediately depending on the nature or kind of account/portfolio you have with them.

Mfunkynation:
Good afternoon, I make a sell on my meritrade account on 20th November but uptil today the Money hasn't reflected in my trading account.
When I ask meristem about it, they are telling me that the money will reflect after T-3 days.
Does anyone experience this with others brokers?
I don't understand..

Money na bastard!
My guy, cool down. You should see the money latest Wednesday, if nothing else is affecting it.
T+3 means 3 work days after the transaction date, and it is a usual occurrence.
But they want to reduce it to T+2as from Nov28

Oblongata:
He was very gifted! He made our childhood quite exciting!

I remember watching ‘’Ghazab’ and the suspense and action was quite intriguing!


Rest in peace Sir!

Another banger

SonofElElyonRet:
Totally bungled case. How do you sack all your lawyers, then say you want to call witnesses then decide you are no longer calling witnesses? The judge even advised him to reconsider his decisions. Barrister Darlington a well known Kanu supporter and public affairs analyst also said that the case was bungled, just like kanu's former lawyer said.

My brother, let's focus more on substantive justice and let's not dwell too much on legal gymnastics and technicalities. Who is more of a terrorist between Kanu and the various Boko Haram, ISWP, Lakurawa people killing and kidnapping people all over the country? When they are arrested, some are even described as ''repentant'' and re-integrated back into the society and they end up being spies for these terrorists.
Yet, they sentenced Kanu to life imprisonment but allow the real terrorists to go scot-free.
I don't support Kanu himself because some of the strategy of IPOB actually harmed the people of South East e.g. sit at home, and there have been unnecessary bloodshed and killings in the region which is affecting their economy and development.
All the insecurity in the country is now affecting the NGX as well right now.

Rapmoney:
More pics. I hope Ghana doings will not encroach into Nigeria's burial customs?

They tried with the design but they should have sought for some assistance from the Ghanaians who are masters of this craft.
Very soon, this may become source/cause of another rivalry between Nigeria and Ghana (though this has been happening in Ghana for about 30 years or more now)

Beremx:
https://www.google.com/amp/s/www.hindustantimes.com/entertainment/bollywood/dharmendra-bollywoods-he-man-and-original-action-star-dies-at-89-cremated-in-presence-of-family-101763971381996-amp.html

Sholay was a banger! Dharmendra, Amitabh Bachchan and Hema Malini

jonnysessy:
Complete Presco dividend landed safely 😁

Will be channelled wisely into one of the followings today : Zenith, Access, Ucap or UBA. Depending on the one that loses the greatest %

The market may be green this week

Princkez:
Please between VFDGROUP and TIP which is better for long term based on current market price

I would advise you choose VFDGroup

nosa2:
Between 1990 and 2010 China achieved an average annual growth rate of 9%. Between 2000 and 2015 Nigeria achieved an average annual growth rate of 7%.

We were on the path but there were two events that caused us to derail; first was stopping the government from removing fuel subsidy in 2012 and then the 2015 elections.

If we had gotten these events right then we would have been on the path but alas. Anyway Nation building takes decades and centuries so there is no rush

Big mistake in your analysis to just rely on growth rate
What you should ask is: 9% of what? 7% of what? Our economies are not of the same size and depth, hence Nigeria even growing at 10% annually for the next 50 years cannot meet China's success and achievements

nosa2:
The farm was in Nassarawa. Gboko (Benue state) was a different business.

My brother I don pin for Nigeria oh. The removal of fuel subsidy and removal of the FX peg is going to do wonders to our economy in the coming decades. If we can fix our politics in the near future... China's economic miracle will be nothing compared to what we will achieve.

Do you really know what China has achieved with its over 1billion people?
We Nigerians just like to brag and boast sha!

Mirasteel:
He wants to steal Palestinian lands that's why he doesn't want Palestinians to have there own state.

Mention the Palestinians lands that Israel wants to steal and when those lands became "Palestinian lands"
I want to see if people like you know what you talk about.

The market is tough now, but the low prices provide good entry points for potential significant gains between now and Q1 2026.
Access Bank at N20+ is too tempting to ignore.