₦airaland Forum

ekineme:
If God bless you even your enemies will come seeking your assistance.
ISRAEL has proven they are at the very top of Air defense system.

Greece and Israel have good relationship, right from Biblical times.
Greece is not one of those misguided European countries who attack Israel just because they want to be politically correct to please some people.

Agbalowomeri:
Election is in February 2027

Go check history for ASI performances the year before each election. Make someone help us with the data

Sorry, the election is Feb2027.
Yes, the ASI performance usually shrinks just before elections, usually in the last quarter (Oct-Dec) of the preceding year. Then it jumps back after a successful election. From now to October 2026 is almost a year, long enough to achieve something in the market if this govt does not disrupt it with silly things like the CGT etc.

rajput4real93:
Good day everyone. I'm new here and I'm undecided on which stock to invest in among Aradel, Seplat, and Eternaoil. I'm a long-term investor. Please, I need your honest advice. Thank you.

Seplat is the best amongst the three, followed by Aradel. The two of them are in the upstream oil sector with good performance history and management.
For Eterna Oil, the downstream sector is now dominated by Dangote who may likely establish retail stations for distribution of his products. If that happens, existing marketers/distributors like Eterna Oil would struggle to survive.
Only the upstream sector is free from Dangote's onslaught, at least for now.

RandDigital:

https://www.youtube.com/watch?v=HAXtilaWe2I?si=qqTjJgEXee4U56ft

After spending more than 13 hours onboard a grounded aircraft at Johannesburg’s OR Tambo International Airport, 160 Palestinian refugees have finally been allowed to disembark and enter South Africa on Thursday evening.

Global Airways, the Johannesburg-based charter operator that flew the group from Nairobi to Johannesburg, confirmed in an updated statement that “all of the passengers have been allowed off the plane and allowed to enter South Africa," adding that they are in the process of clearing immigration.

Earlier in the day, the airline had said the passengers were declared inadmissible on arrival, despite the fact that their travel documents and passenger list had been submitted to South African authorities 24 hours before departure, in line with immigration protocol.

The passengers — all Palestinian nationals who left Gaza on November 12 — travelled from Israel to Kenya, arriving in Nairobi around 2am on 13 November, before connecting to Johannesburg on the Global Airways charter.

They were never assured of their final destination, and were only allowed off the plane at O.R. Tambo after hours of negotiations involving multiple government departments and humanitarian organisations.


https://www.youtube.com/watch?v=HYIxesryBnQ?si=rkzffyohsaiH7Zw5

Humanitarian organisation Gift of the Givers confirmed it was on-site to provide food, medical care, and accommodation to the exhausted passengers.

“These people endured 13 hours onboard in inhumane conditions after fleeing a war zone,” said Gift of the Givers. “Many of them wish to apply for asylum in South Africa, while others plan to continue to other destinations.”

Gift of the Givers founder Dr Imtiaz Sooliman earlier thanked DIRCO Director-General Zane Dangor and International Relations Minister Ronald Lamola for stepping in to facilitate the refugees’ entry, commending their actions as “in keeping with South Africa’s humanitarian and pro-Palestinian stance.”

Sooliman explained that the crisis arose because Israeli authorities refused to stamp the refugees’ passports on exit, leaving them effectively stateless when they arrived in South Africa.

“Israel deliberately did not stamp the passports of these poor people to exacerbate their suffering,” he said. “We thank the South African government for intervening and receiving them with compassion.”

Gift of the Givers teams are coordinating emergency relief efforts for the refugees as they begin processing their asylum applications.

Why is it that there is no mention of the airline that transported them from Israel to Kenya before connecting to Johannesburg via Global Airways?

Agbalowomeri:
The market has no where else to go but down, whether now, January February Apr o, the direction is down before the elections

The elections is May 2027, bro.
There is still a whole year 2026 before then. Long enough for someone to make something good

pluto09:
https://nairametrics.com/2025/11/13/tax-nigeria-partners-with-over-100-countries-to-track-remote-workers-income-oyedele/

“The requirement under this new law is that everybody, whether you earn your money from Google or whether you earn it from XYZ Limited in the Bahamas, you have to declare your income yourself. If you fail to do it, the system will then gather intelligence, which is when the money hits your bank account.”

Oyedele acknowledged inconsistencies in the recently signed tax legislation, particularly regarding turnover thresholds.

“Section 147 of the Nigerian Tax Administration Act says N100 million. Section 202 of the Nigerian Tax Act says N50 million for turnover,” he noted. “The answer to your question is yes, it was an error.”

That is how this Taiwo Oyedele talks crap, and when it backfires he starts to change mouth up and down

nosa2:
You know its not yet uhuru sha. I suspect we will still have a dip in the banking sector before we moon. With regards the other sectors I wish una well. My money is not touching anything that is not a Nigerian bank. Make una enjoy those ones

But the banking sector is highly regulated and CBN policies can affect their performance, which makes them unpredictable sometimes.

awesomeJ:
The bolded is not correct.

You can use gains in any one stock to offset in another stock as long as they're both nigerian companies, listed or not.

Okay, I stand to be corrected. Will re confirm because the issue had been discussed here in the past.

Fred2020:
Exemption at portfolio of N150M or less which he said is over 90% of the market participants according to him.......no CGT payable at all.

For larger holder many groups are exempted including PFAs, REIT and others.. also loss can be carried forward use to offset gain.

Third, the based period is Dec 2025.

This sounds reasonable in my opinion. Personally the only issue is that makes CGT higher than CIT (@25% in the new tax act) but the exemptions are quite broad

I think the capital market reaction was driven by a lack of clarity which he has now provided

The exemption of N150m is nothing ''reasonable'' because investors are not paying any CGT right now, even if the portfolio is N500m or N1billion. So why should N150m be a plus or credit to this new law?
And how does one ''carry forward'' a loss to offset gain, because the CGT is charged per stock? So you have to offset the loss in GT against the gain in the same GT and so on. if someone made a loss in GT, he cannot offset against the gain in Zenith, until when he is able to buy and sell the same GT in the same year or maybe in the following year. So one may never be able to offset the loss against gains because investors sell and buy different stocks that give them better returns,

Fred2020:
[b]The law is reasonable [/b]in my opinion, but he should have been proactive in clarifying the small details.

In his conversation with Channels TV, he claimed he had provided details to key investors over several Teams call.

As someone who only recently left consulting he likely has minimal stake in the equities market due to potential conflict of interest checks they do for new clients.

His handling of the issue has been very naive

How is paying CGT of 25%-30% CGT reasonable?
Are you saying the reaction of the whole capital market that rejected it was wrong or unreasonable?

yMcy56:
If it's 1%, I also believed it will make more money for the govt because people won't even mind or bothered about it.

If 1% is too high, they can still raise good money by making it 0.5% or 0.3% etc.

awesomeJ:
Taxing 1% on sales could be taxing investor's capital which is worse.
They already take 0.3% through the SEC, taking it to 1.3% is like a 333% hike, worse than the 200% hike on CGT, and it won't be avoidable like CGT is.

There is already commission on sales, so my point is they may review that one a little bit, if necessary. It may even be .025% or 0.5% or .001% etc

Fred2020:
Taiwo Taiwo!!

Why did he have to wait for the market to take a beating over several days before providing clarification on the law.

This is why younger people are not investing. The NSE trading like a crypto coin!

What he did was not to provide clarification. He was forced to change his mouth and backtrack from his earlier position.
He had earlier insisted that the law would be applied retrospectively and also dismissed the concerns of local and international investors at a meeting organized by SCB

awesomeJ:
I get your point on this, It seems people aren't really seeing the ambiguity in the law.

Tax man says i need to file my tax return for 2026 by March of 2027.

tax law says if i reinvest within 12 months of sale (not within same year) i won't be tax liable.

so if i sell by December 2026 and haven't reinvested by March 2027, but still plan to reinvest before Decemebr 2027, how do I file?

You're right, it's another part they need to address.

They just rushed to pass the law after it was initially put in abeyance to resolve the issues about VAT rate and sharing formular which some politicians raised. Most of the focus was on VAT and PAYE.
The whole CGT thing should be suspended for now.

An alternative, simpler way for the govt to make more revenue in the capital market is for them to increase the commission on sales by say 1% which goes straight to the govt. Majority of investors would not mind and this would not cause much chaos in the market

Valthegreat:
This is very easy naa, just search for Oyedele's number and ask him to change his mouth again and insist on retrospective implementation of his CGT law from the pit of hell. It's just as simple as that and you can get Aradel at even 450

Raider76:
Who passed the law? Was it not the Senate? Who can amend it? Is it not the Senate?

The ''white man'' that made the pencil also made the cleaner/eraser

yMcy56:
Senate urges Wale Edun to review the 30% CGT....as a matter of URGENCY

https://nairametrics.com/2025/11/13/n2-trillion-market-loss-senate-urges-edun-to-review-30-capital-gains-tax/

The NASS should just help us kill this CGT once and forever!
Make Akpabio and Natasha join hands do this for NSEMPA

chimex38:
Nope. No body taxes your sale proceeds if you sell in Dec.

Your full sales proceeds automatically becomes your cost price if you decide to buy in March 2026.

So what happens if I sell on Dec 31 and decided to withdraw whole cash in the following Jan or Feb?

Ikaeniyan0:
There's a time on nairaland Obidients, do create threads on nairaland daily, crying and wailing about how the naira was falling, where have they all disappeared to?

What was the exchange rate on May 29, 2023 when Tinubu became president and the rate today?
Do you celebrate failure because you scored 15% last year and now scored 30% this year?

omoredia:
Good move. Tinubu got it very right this time. One language will help for better understanding

The first 3 years in school (Class 1-3) should involve local languages so the kids can understand better.

unite4real:
Go to page 91 of the Act.
Below and attached is the section of the Act that mentioned this.

"company shall not be chargeable gains
where –
(i) the disposal proceeds, in
aggregate, is less than N150,000,000 and
the chargeable gain does not exceed
N10,000,000 in any 12 consecutive
months, or
(ii) the shares are transferred
between an Approved Borrower and a
Lender in a regulated Securities Lend"



What does the word AGGREGATE mean to you.

So selling and buying in the ''same year of assessment'' is the real deal now.
So if I sell on 31 December hoping to invest the proceeds in March, the govt will tax the proceeds of December. What happens when I want to reinvest the proceeds to buy another stock in March? Will govt refund?

awesomeJ:
I sold my TOTAL under pressure cos of this 15% ad valorem 😁😁😁

Good thing I still have cheap CONOIL.

FG has suspended the 15% duty

They should suspend the CGT as well.
This govt should invite very good technocrats that can give them good advice on how to run the economy.
Their main focus seems to be on using every means to imposes taxies, levies to generate revenue and it is creating big problems!

awesomeJ:
Watch the video I shared before the data.

I was quoting Oyedele. The data might be stale or outright inaccurate, I don't know where he got it from.

He is inaccurate and also displaying ignorance.
The value of portfolios in the market cannot be static as share price changes or increases, Hence 20% or more of portfolios in the market can be over N150m in a bullish season.

awesomeJ:
With a N150m portfolio, I'll probably sell N500m monthly( N1bn for both buy/sell)

And with a N15m portfolio, I might hit the 150m sale in just one quarter (300m total transactions)

So it's not right to say because people have Portfolios below N150m, then they won't hit the threshold.

It's even possible to have a N2bn portfolio and not sell up to N150m per year, whereas you could have just N10m and sell up to N300m if you trade actively for an entire year.

These are some of the things stakeholders should probably explain to him.

But it's good he has said the implementations will have adjustments.(In line with what Mr Wale said)

Thank you very much,
This shows he is totally clueless about how the stock market works. And such person was allowed to lead/head a committee on tax matters that affects a key sector like the stocks market without experts drafted from the sector to give proper advice.
A person that bought 10million units of Wema Bank at about N2(i.e. N20m portfolio) few years ago will be having about N200m in his portfolio right now.

unite4real:
N150 million threshold sef does not mean a one off capital.

As explained here earlier, a N20 million startup capital in the NGX can hit this threshold easily. The taxman said the N150 Million is cumulative transactions.

So if I start with N20 M and make a gain of 10% and sold all.
Then use the N21 Million to purchase again and sell after another 10% to realize around N23 million.
Use the N23 Million to buy again and sell at 10% to realize around N25

With these 3 sales, I have cumulatively did a transaction of around N70 million.
This is almost half way to the threshold. Traders will just be hitting this threshold steady with 10 to 15 million if they are steadfast.

They don't even understand how stock trading works in reality. How are they going to monitor or segment the 12 months into when a year starts and ends?
When they say there will be exemption if the N1150m proceeds is reinvested into another stock within the year, how will they calculate the CGT if someone sells N150m shares in December and wants to reinvest the whole money into another stocks in March the following year? Will they collect the CGT in December and return it in March for the person to use to buy another stocks. Or do they expect the selling and buying to occur in the same calendar year?

awesomeJ:
99% of portfolios are below N150m
More interesting? Average age of investors is above 50 years in a country where the average age is 18??

That Taiwo Oyedele is misleading the public in order to impress the president and/or finance minister who gave him the job . How can he say investors are going to benefit from the N150m threshold when they never had to worry about any threshold for tax in the past?
He is the same person that dismissed the concerns of investors and published a lengthy writeup just over a week ago to justify everything about the law but the market crashed afterwards. His comments and insistence are creating more problems . The Finance Minister has been more diplomatic and concilstory n his comments and approach.

The same govt that said they met their revenue target in September.
After removing fuel subsidy, electricity tariff increment, floating the naira to get more revenue, 70% of Banks foreign exchange gains, increasing tuition fees, several loans borrowed.....still nothing to show.
Now, they are pursuing CGT to extort money from investors in the capital market.

unite4real:
It is not just the price at December 31, 2025 that will be used as the base price. It is the higher of the cost of acquiring the share and the price as at Dec 31 2025.

You buy share for N50 in 2020. By December 31 2025 price is N35 and by April 2026 you sell for N55. Your base price will be N50 and so tax will be on N5

Okay, that is the only aspect that has been clarified for now.
The rate still needs to be resolved.

DeepSight:
+
I dont say the dome is useless, its good. It has just never been tested by a worthy adversary. The 95 percent success rate against a decrepit Iran is nothing. By myth, I mean its over-rated so far, and that was shown. Remember the USA was helping them shoot down as well, so you cant even attribute that so called success rate to the dome alone.


+
I did say Israel is vastly superior so I cant see what to argue about here. I generally agree, except on your attempt to say the sanctions have no effect.

If you say the dome is over-rated, tell us how many countries have similar or better air-defense system that has been deployed to shield a country from attacks from about 7 neighboring enemy states the way Israel's Iron Dome has done?

Apcshit:
I don't want to hear anything about their useless war,they should try iran ,I wan check something

Which Iran?
The same Iran that lost its top military generals in just 12 days or another Iran?

When Sanusi Lamido Sanusi started this issue for NNPC to account for all their receipts, some people saw it as an attack on the govt and Jonathan himself made a blunder to sack him as CBN governor

Today, SLS is vindicated

Raider76:
At least the uncertainty about CGT seems over. We may now have a normal Santa 🧑‍🎄 rally in December/January.

The uncertainty about CGT is not yet totally over.
Only one aspect has been clarified i.e. reference price(Dec 31) to be used as ''cost price''.
The market will still recoil if the rate is not amended by mid December.