₦airaland Forum

awesomeJ:
SEPLAT at 5917.
Finally!

145k loading

chai. We waited. Meanwhile it's selling above 6k on the London exchange

megawealth01:
If ARADEL is that price some people think that OANDO wont sell above 100. I just dey laugh sha

But Aradel also has a working refinery and pays very good dividends. Oando need to pay dividends to come close.

One funny fact: Do you know that the founder of Aradel (Chief Aret Adams) did not live to see it's current glory.

May our investments mature in our lifetime.

yMcy56:
If ACCESS should pay even if it's 0.50k, it should fly and come close to 30 or above.....

"...but can they"?
With God nothing shall be impossible.....
ACCESS make you surprise us 😁

Access will pay N1. A promise is a promise.

yMcy56:
ARADEL officially @670!
PZ on full bid @41.70!
ELLAH on full bid @13.47!

* N650.10 ARADEL crossed...

Aradel. No regrets. But I wish I bought more. This stock has delivered.

megawealth01:
Expected 💯

That result is just excellent 👌

chimex38:
If it hits my bank account(withdrawal)as against my broker account and then I change my mind and reinvest the proceeds back into a stock.

Another case is reinvesting dividends that usually hits the account.
Will i still be taxed just because it hit my account?

CGT should not be collected on dividends.

Aradel now 615. All you waiting at 400 make Una dey wait

Panadee:
The TIN will sort that out

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:
FIRS will have their job all cut out on this matter. They are going to see the total chaos everywhere. they are looking at the cumulative turnover in all shares put together and not what each delivers

No doubt they will make a demand notice for the aggregate but it is up to you to raise those exemptions.
That is where annual returns will come in.
You all will have to seek services of accountants to make returns for tax purposes or to claim exemptions, if not they will claim tax on both taxable and non taxable profits

Streetinvestor2:
whr did u see this line of argument in what he shared. Whr did u see that the 150 million must be in an individual nigeria stock. Abi eye dey pain me.what I saw is aggregate oh

Law dey one kind. It depends on how you read it. But courts often read the law as a whole to understand the intendment of the law maker. I have attached the law as shared by Ositadima.
If you look at the provisor to Section 34 (1)(a) you will notice the law makes reference to "in any Nigerian company"
Go down to 34(1)(a)(iii) which he coloured yellow you will then notice the law talking about acquisition of shares "in the same or other Nigerian companies"

By necessary legal inference "in any Nigerian company" talks about one and the same company, (when the law dealt with disposal)

When the law wanted to bring in other companies in terms of acquisition or reinvestment, it used the phrase "in the same or other Nigerian companies"


We have not seen the interpretation section for more clarity.

unite4real:
in fact if one starts with N20 million capital and selling after 10% gain each time, one will need just 6 round trips to surpass the N150 million threshold.

And they want us to believe they are coming for the high net worth guys?

many JIJO traders will hit this figure with little capital, starting with less than 15% of the N150 million threshold.

govt will end up scamming us

How do you treat the issue of reinvestments. Each jijo round is actually a reinvestment and ought to be exempted from tax. I think aggregate in the context of the tax law means total sale from a pool.
Lets say a person with 1million units for Aradel worth 500million, decides to sell N20million units 8 times within a year his aggregate would certainly be N160million.

But another person with total holding of N20million does jijo 8 times. Each jijo is a reinvestment not necessarily an aggregate for tax purposes.

This whole CGT on shares is actually for the bigger boys.
From the attachment by Ositadima, it is clear that you have to sell share in "a nigerian company" and the total sale in that company must be over N150million with the chargeable gain over N10 million in 12 months.
Most of us wey dey do this argument no even get portfolio of over 150million not to talk of 150million shares in one(a single) Nigerian company.

But for others, it's simple sell less than 150million Naira per year.
Or if you sell over 150million Naira worth of shares in one company, reinvest in some other companies and sell the next tax year.

sboga:
so after all d gra-gra over the cgt d one ting dat is clear is dat the ones wid the huge gains must sell to aviod the tax before next year...re-enter next year with new cost base.

tank u

To avoid tax, you don't have to sell. CGT cannot arise if you don't sell. It is only when you sell that you become liable to pay CGT on the profit you make from the sale.

I have already mapped out my way around it in a very legal manner. E no worry me again

emmanuelewumi:
A journalist friend with the defunct National Concord newspaper, he covered labour union activities informed that an insider in the union reliably informed him that what the workers did to the 3 refineries they can never be productive again and if repaired can't be profitable for the owners.


Since mid 90s after the crisis, we relied on importation for local consumption

What PENGASSAN just did is not different from what gave rise to the declaration of state of emergency in Rivers state. Why take such decision that threaten the supply of petroleum products and the economy as a whole. They took it too far. Lets see how the government react.

emmanuelewumi:
Terrorists and economic saboteurs

If let unrestricted, PENGASSAN will transfer dangote refinery into the list of Nigeria's many failed refineries.

This is the time we know if this government actually wants to save Nigeria or not. It's time to ban PENGASSAN. If they stop crude oil supply to Dang refinery, the refinery will simply import from other countries and Una Naira go carry the consequences except if they don't want the Naira to appreciate.

Not a bad day. Dangcem, MTN, PZ etc went up. Index over to you

awesomeJ:
N2.5 interim.

Would have been more impressive if their interim/final ratio was normal.

It's an improvement on last year's N2. They also paid N3 as final dividend for last year. Not bad.

Zenith and Stanbic improved on their interim dividend. I believe Access will do better.

unite4real:
shebi there was news flying around that the banks will not pay interim dividend apart from GTCO due the forbearance issues.

Now at least they paid which shows their strength. I believe when they are all out of the woods, return to quality dividend payment is sure

Let's see what GTCO pays. The should do better.
I no trust Access but they may surprise us.
But forget the poor dividend, the fact that they are able to pay dividends shows they might have met and resolved the CBN forbearance issue.

emmanuelewumi:
Yet the markers who accused Dangote Refinery that the price of the one exported was cheaper by N56, are not ready to sell cheaper than Dangote but they are accusing of crashing the price...

What stops them from importing from West African countries where it cheaper and sell to Nigerians

Dangote seem very prepared. He has been giving them what they deserve.

Sunrisepebble:
What have we been buying ?

This man. Where have you been. In your absence your Aradel has been doing well

Aradel seriously doing some quantity. Over 6billion Naira done. Is that a seller? Cos the price has fallen to 520 officially as much of the huge trades were done at 520.

Yesterday, I saw Rano Rice in the market here in Imo state. I have also seen BUA rice and other BUA foods.
Dang rice and Dangfoods where are you?

Meanwhile I think those guys at NSE need to encourage RANO to list on the exchange. His company and products have spread through our Nigeria. He happens to be the only northerner in the petroleum sector with outlets in almost all the states of Nigeria including the southeast.

leo1234:
Just waiting for gtco H1 financial report 😴

This time last year it was already out. Last year's H1 result was released on 11th September 2024

Streetinvestor2:
Bros which level be your own..lol

Lol. He high no be small.

Olaide1295:
You cannot just see headline and make blanket deductions from it. Subsidy to encourage local oil production is not same as subsidy to encourage consumption of an imported commodity.
By the way, what you call the "US subsidy" is even a reduction in the royalty the oil producing companies pay if they produce more, not like the govt is spending out of pocket.

Whichever way you put it, it is still subsidy. When you remove subsidy on everything including electricity that is generated locally, you destroy local production in general and consumption. Why not remove royalties and taxes on crude oil produced and consumed locally by indigenous refineries in order to boost and encourage expansion as you put it. When they place your business premises on Band A that's when you will understand.
Pls don't read my comment on the surface this FG removed subsidy on a whole lot of things apart from petrol, electricity and education.

I just saw this topic on the front page.
Yet they advised us to remove fuel xupsidi.
That it's the only way we can survive. Now we pay more than fuel subsidi itself

https://www.nairaland.com/8516514/united-states-spends-31-bilion

The type money wey dey enter Aradel. Shebi Una say na selloff. Ok oh. 22billiin Naira done this morning already and price appreciation follow join

Chinkili dividend from CILeasing landed earlier today. I didn't even fill any form for this one

megawealth01:
PZ and CADBURY go soon rub shoulders?

PZ have serious debt issues, unlike Cadbury. PZ also has higher OS. It will be difficult for PZ to catch up though not impossible.
Q1 result (which is due already) should give a pointer.

egojeny1:
AIICO, ELLAH, PZ no gree this morning

I expect to see PZ above 40 in a very short time.

Sugar is doing very well this morning