₦airaland Forum

deathwing:
Don't stress the poor guy. This law had a round of public hearings and nobody said anything...everyone was just spazzing out over VAT rate. The nigerian chambers of trade and commerce and all the association of brokers and other making noise now kept quiet because stocks were pumping. Make una leave Taiwo alone and carry una cross.

The guy himself deserves all the stress because he has been insensitive to issues raised about the public and investors

The attention was more on PAYE and the VAT rate (7.5% vs 15%) and the sharing formular amongst States. So immediately after the politicians agreed on the VAT, the bill was more or less rushed for approval with minimal scrutiny of other areas.
But I agree that the NGX/SEC, and industry players should have mobilized for a strong advocacy against the CGT. Or maybe they thought it would not be implemented, just like in Finance Act 2021

Agbalowomeri:
What volume do you think is exiting NGX? Go check, it is not heavy

The red started just after Trump pronouncement. We have had the CGT memo the entire year so while now and not December?

No, the red started after Taiwo Oyedele had a call with local and international investors, which was organized by Standard Chartered Bank where the foreign investors expressed their frustration with the CGT. The meeting held about 2 weeks ago and the red started a few days after that. Tump was just an inconsequential coincidence.
https://nairametrics.com/2025/10/22/international-investors-are-frustrated-with-taiwo-oyedele-reports/

The same Taiwo a few days later, dismissed the concerns of both local and international investors
https://dailypost.ng/2025/10/27/capital-gains-tax-taiwo-oyedele-dismisses-claims-nigerian-investors-are-frustrated/

Ginalex:
WAHALURDDD

I called the line but no one picked!
Vawulence calls loading!

I just found Taiwo Oyedele's email and phone number on his Instagram page:
enquiries@fiscalreforms.ng or WhatsApp: 08109753151

Agbalowomeri:
Na CPC dey cause bear not CGT

It is not the Country of Particular Concern (CPC). CPC would only affect mostly new or potential investors coming into the country
Investors already playing in the NGX (foreign and local) would not mind if it is only about CPC.

Itzlinda:
I think petition won't really change nothing. When the billionaires (dangote and co) fortune index dropped by significant margin because of the drop in the price of their holdings, I think that's why federal govt will act. Or when companies starts firing people because there's no liquidity in the companies.

Thank you for the understanding and insights!

awesomeJ:
I'm talking about the impact of the talks when the people who can do anything about aren't even aware you're making them. If you write a petition or find a forum where they can read about your concerns, that'd have an effect.


Do you realize for months now, you hardly go a day without mentioning CGT here, what impact do you think that's having on the policy?

So many issues are discussed on NL, in different sections and on various topics.
Policy makers and people in govt source public opinion from various platforms, especially in this era of social media. It is not only by petition.
Whether they are aware of what people say here or not, it is only for them to say, and not for any one of us on NL.
No one should be more Catholic than the Pope

Agbalowomeri:
I want Zenith @40-45 for 50% of my portfolio, then wait for N35
But it could do a short-term rebound at 48-50/51 (very strong support)

GTCO stubborn

The 'Undertaker''.
You want to see these stocks ''tucked'' below a price range

awesomeJ:
Can a petition be co-written remotely? would it work in this case? if so maybe you can volunteer to draft one against the committee on why the CGT is ill thought or ill timed, then some of us here can sign it.

I believe coming up with an action plan is better than just speaking about it.

Anyways, some of us are still sailing along the market waves. All I need is 10% a month. I'm already halfway there MTD.

Citizens opinions form a good basis for public policy in most societies and nations.
Not everybody that speaks out needs to write a petition.
And I hope people speaking against the CGT does not do any harm to your interests?

awesomeJ:
Index on track to have one of its heaviest sheddings this year. And MTNN full offer is yet to impact.

This market is really showing people shege

It is not the ''market'' per se.
This is classic case of a poorly-thought policy intervention by the govt (i.e. CGT) killing market enthusiasm and confidence.

ositadima1:
Lagos lori ìfilọ.

I would never risk my money in State Govt. Bonds

deathwing:
I just dey ask sha (because naija NGX doings still seem trapped in 1999. You have to search for everything and nothing is centralized). I will buy today on the floor for 1360.

Contact th4e issuing houses. I listed them in my response to your post earlier on

Itzlinda:
It is obvious CGT it is what is making the market to tank.

We need strong catalyst for this downturn to reverse.

The bear seems to be in charge.

We told them but they would not listen!

deathwing:
I still have not seen any official info on how to get Presco RI

Search for it in Google or contact the following:

Lead issuing house for the Rights Issue is Rand Merchant Bank Nigeria Limited,
Joint issuing houses:
Coronation Merchant Bank Limited, Afrinvest Capital Limited, CardinalStone Partners Limited, FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited, Greenwich Merchant Bank Limited, SCM Capital Limited and Stanbic IBTC Capital Limited.

Source:
https://businessday.ng/companies/article/presco-to-raise-n237bn-through-rights-issue-to-shore-up-working-capital/

deathwing:
Waiting to see where TIP settles before trying for the Public Offer

They may still push the price to a favourable range for the public offer to look attractive

GeeKudi:
I think its fair.

Awon ota po ju enemy lo

Agbalowomeri:
Lol for an act that has been passed into law? We joke a lot in Naija. The 25% rate is not bad IF people FEEL the impact of the government. I look around me, I can't even point to anything that I am benefitting from government aside good road network and that one sef na recent thing which also depends on where you live

Finance Act 2021 had 10% CGT but it was never implemented by Buhari.
The law is made for man; so it can be amended or suspended by the president. What would be wrong is to go ahead and implement it using a different rate without first going to NASS to amend the rate accordingly. But from experience, the implementation can be suspended without going to the NASS.

emmanuelewumi:
Na lie.

They are all the same.

How do you generalize in such manner?. Is this govt the first and last in this country?
There was 10% CGT in Finance Act 2021, but it was never implemented by the Buhari administration.
So, it depends on the philosophy of the president.

Agbalowomeri:
Shey you no dey pay 10% for dividend, fixed deposit and so on?

Interest and dividend are a bit different, in my view.
The CGT will be charged per company stock. You may incur losses in one stock and there will be no compensation or incentives from govt to reduce the effect of the losses. But when you make gains in another stock, it will then attract CGT. So your losses and gains may be parallel that is why I think 5% CGT would be a good compromise.
So it is not like dividend or interests which are ''certain'' flows in a way.

Agbalowomeri:
10% is fine for individuals

To give N50m out of N500m?

brosiye99:
True but when You know the antecedents of this govt from Lagos, You can be sure that they won't back down. A 15% for companies is fair and 7.5% for individuals and then watch the impacts on the market before further action.

Thankfully, they will not be in govt forever.
A lot of their insensitive policies, including this CGT, will be reversed by other govt(s) in the future.

SonofElElyonRet:
Why can't it just be 10% ?

It should be CGT 10% for Companies. Individuals should be 5%.

brosiye99:
Strong presentations to the presidency are being made by different groups and interests for the reduction of the CGT. Before January 2026, there will be some reduction. This is from an insider involved. Let's see how it goes. My dream is even if it is reduced to 17.5% it would be fine. Tax rates should be progressive so as not to be disruptive.

Any CGT above 5% for individuals will discourage investments. With 5%, most investors would not mind and the FG can rake in as much revenue. Companies can still remain at 10%.
Based on info you gave, the most practical thing would be to suspend the implementation until when a new rate is approved by NASS and gazetted. Going ahead to implement it with a different rate would be a breach of the law

Mpeace:
On a very serious note, government need to suspend the provision on Capital Gains Tax on shares transactions. It makes no sense at this point, when need to encourage investment in the stock market.
After paying all the necessary fees which in average is about 3% of capital invested, for buy and sell transactions,10% wth tax on dividends etc , we still take the risk of making a loss or profit from the investment and still pay 30% tax if we make a profit.
I think the government just wants to discourage investment in the stock market.

I remember when Ngozi Okonjo iweala was finance Minister, CGT was already exempted for transactions on Stocks, and to encourage investment in the exchange, she further removed VAT for transactions on stocks.

This government only seeks to take from Nigerians without giving anything in return. See how they asked banks not to distribute FX gains and yet came back to collect almost all the FX gains made by banks by way of tax.

Even now, air fares have skyrocketed because of govt insatiable appetite for all sorts of insensitive levies and taxes
https://independent.ng/sky-high-fares-in-nigeria-blamed-on-expanding-web-of-fg-levies/

This govt is just desperate to extort money from citizens without any commensurate prudent management of resources.

DomPerignon:
Turkey will finish Israel in one day if it comes to a war between two of them.

Even the US will not even dare intervene because Turkey is not a pushover and any threat from Drumpf will see Turkey dump NATO and kick the US out of their country.

Turkey has one of the strongest military in NATO and Europe.

Turkey dumping NATO will see it joining Russia.

Not something the US would want to see.

Dreaming!
Turkey's president cannot even say this! The same way you deceived Iran.
If you don't know, get this straight away: Israel has the strongest and most powerful military in the middle east!

KarlTom:
There should be a news this month wrt Petrotrin...

Wow!. Hope it is very positive.

KarlTom:

You gerrit?

SonofElElyonRet:
If so, I go buy another 5million units

Stocks coming for public offers very soon would offer good yield and long term gain on current prices
Don't forget to overcome your fears, and take a dive!!.
You will survive and make money in the Ocean and Oil.

PuristForest:
Deepcap has been in a sideways channel since aug 25 high of 2.13 which corresponds to 2013 resistance, since then the support at 1.58 has held for this period and we have significant evidence on the chart that monies is entering this asset, a break of the 2013 resistance will open way for 3 which is the next key level . Its time to jump into deapcap. DYOR
ewnation/trial - join ewnation 7 day trial only for 1us,limited offer
ewnation/ngx

Seems you really saw something about Deapcap.

Agbalowomeri:
JAPAUL don woundjure Loco

The Good Book says we should rejoice with those who are rejoicing and also show support to those who are not rejoicing!
Show some understanding! It isn't easy!

Truths9ja:
Source: https://www.thecable.ng/bbc-dg-news-ceo-resign-over-trump-documentary-edit/

BBC does not have any credibility.
They have been telling lies and publishing biased and doctored stories in their so called documentaries. Typical examples are the Israel-Hamas war and their so-called documentary on late Prophet TB Joshua. Now Trump

Raider76:
People with this kind of holding don't sell in a hurry.

Exactly!