₦airaland Forum

KarlTom:
The aim of the 43 shareholders of Providus was to remain private by paying off Unity shareholders, thus that payout figure was made VERY attractive.

I might be wrong but we wait...

faoogoke:
*The Nigerian Stock Exchange (NSE)* has suspended trading in the shares of the following companies:

Unity Bank Plc
Fortis Microfinance Bank Plc
Thomas Wyatt Nigeria Plc
Multi-Trex Integrated Foods Plc
Golden Guinea Breweries Plc
Deap Capital Management & Trust Plc

I am not surprised at Deap Capital suspension. I said it about two months ago.

KarlTom:
Edited

This is old news 😂

No go give people hypert**

faoogoke:
*The Nigerian Stock Exchange (NSE)* has suspended trading in the shares of the following companies:

Unity Bank Plc
Fortis Microfinance Bank Plc
Thomas Wyatt Nigeria Plc
Multi-Trex Integrated Foods Plc
Golden Guinea Breweries Plc
Deap Capital Management & Trust Plc

I am not surprised at Deap Capital suspension. I said it about two months ago.

cantiride2:
Multi Trex are they still in operation?

PETERiCHY:
Gold prices hit a record high in Asian trade on Wednesday, crossing $4,000 an ounce for the first time as safe haven demand grew amid heightened political and economic uncertainty.

Bets on more interest rate cuts by the U.S. Federal Reserve also buoyed bullion, with focus turning to upcoming addresses by several officials this week.

Spot gold rose 0.6% to a record high of $4,010.84/oz, while gold futures for December rose 0.7% to a peak of $4,033.27/oz. Gold futures had risen past $4,000/oz on Tuesday.

https://www.investing.com/news/commodities-news/gold-prices-hit-record-high-cross-4000oz-amid-political-economic-uncertainty-4276107

BARGAIN HUNTERS TAKE NOTE!

Raider76:
Oyedele clarifies Capital Gains Tax, cautions evaders

https://punchng.com/oyedele-clarifies-capital-gains-tax-cautions-evaders/

“We have eliminated the special rate for capital gains tax. It now aligns with the income tax rate of the payer. If a small business pays zero per cent corporate tax, its capital gains tax is also zero per cent. Likewise, low-income earners exempted from PAYE will pay no capital gains tax,” he explained.

Raider76:
Oyedele clarifies Capital Gains Tax, cautions evaders

https://punchng.com/oyedele-clarifies-capital-gains-tax-cautions-evaders/

“We have eliminated the special rate for capital gains tax. It now aligns with the income tax rate of the payer. If a small business pays zero per cent corporate tax, its capital gains tax is also zero per cent. Likewise, low-income earners exempted from PAYE will pay no capital gains tax,” he explained.

KarlTom:
Unity Bank Shares will be absorbed by Providus-Unity.
The ticker will be changed accordingly.
The new entity will be relisted as an IPO at a revalued price (est. btw ₦2:50-₦3:00)...

KarlTom:
Someone is quietly accumulating ARADEL

Raider76:
Oyedele clarifies Capital Gains Tax, cautions evaders

https://punchng.com/oyedele-clarifies-capital-gains-tax-cautions-evaders/

“We have eliminated the special rate for capital gains tax. It now aligns with the income tax rate of the payer. If a small business pays zero per cent corporate tax, its capital gains tax is also zero per cent. Likewise, low-income earners exempted from PAYE will pay no capital gains tax,” he explained.

megawealth01:
All these tax money sef... How accountable to the people will the FG be?. Nobi to collect am be the probs but will they be accountable like other sane countries do?

mikeapollo:
The CGT does not make sense, irrespective of this explanation by Taiwo Oyedele.
For example, what about unemployed/unengaged persons who make profits of say N200m-N1billion in the NGX? What CGT rate would applied to them?
Again how would activity in the capital market be deepened if high net-worth individuals (who provide most of the liquidity) are made to pay CGT of about 25%

Agbalowomeri:
How I come dream say ACCESSCORP paid 30kobo interim dividend?

Abi na high fever

Itzlinda:
They won't sir. My hope is that this will tickle people conscience to fight corruption.

If they tax you 25% of your ngx profit, you won't find it funny when you hear say one government official steals 1b because you know it's your money

mikeapollo:
It may still not make any difference in this country. Fighting corruption has more to do with respect for rule of law, judicial processes and system, citizen's level of education, awareness, poverty levels, unity of purpose, social security and empowerment etc.
One still cannot do jack if a governor or govt official embezzles money so far the current systems remain the same, even if one pays 30% tax or CGT.

PETERiCHY:
President Bola Tinubu has approved a N4tn bond to clear verified debts owed to power generation companies and gas suppliers as part of efforts to stabilise Nigeria’s electricity market and restore confidence in the sector.

The Minister of Power, Adebayo Adelabu, made the disclosure in Abuja at the Expert Forum on ‘Uninterrupted Power: The Industrial Imperative’ organised by the Nigeria Economic Summit Group, where he outlined ongoing reforms under the Federal Government’s Renewed Hope Agenda to make the power sector sustainable and commercially viable.

According to him, the bond approval forms part of a broader financial stabilisation plan designed to address legacy liabilities that have hindered investment and liquidity across the electricity value chain.

“To stabilise the market, Mr President has approved a N4tn bond to clear verified GenCo and gas supply debts. Alongside this, a targeted subsidy framework is being developed to protect vulnerable households and ensure a sustainable path toward full commercialisation and a viable industry.”


https://punchng.com/tinubu-approves-n4tn-bond-to-clear-gencos-debts-power-minister/


TRANCORPIANS FASTEN YOUR SEATBELTS!!!

Itzlinda:
They won't sir. My hope is that this will tickle people conscience to fight corruption.

If they tax you 25% of your ngx profit, you won't find it funny when you hear say one government official steals 1b because you know it's your money

Raider76:
Oyedele clarifies Capital Gains Tax, cautions evaders

https://punchng.com/oyedele-clarifies-capital-gains-tax-cautions-evaders/

“We have eliminated the special rate for capital gains tax. It now aligns with the income tax rate of the payer. If a small business pays zero per cent corporate tax, its capital gains tax is also zero per cent. Likewise, low-income earners exempted from PAYE will pay no capital gains tax,” he explained.

Agbalowomeri:
How I come dream say ACCESSCORP paid 30kobo interim dividend?

Abi na high fever

faoogoke:
Mr Oyedele is the only one who understands the new Tax law, and he will explain tire.

mikeapollo:
For example, what about unemployed/unengaged persons who make profits of say N200m-N1billion in the NGX? What CGT rate would be applied to them?

KarlTom:
The aim of the 43 shareholders of Providus was to remain private by paying off Unity shareholders, thus that payout figure was made VERY attractive.

I might be wrong but we wait...

Namaster:
One of the major goals of the NTA 2025 is to harmonise several taxes.

For the purposes of taxation, the NTA 2025 treats CGT EXACTLY like Income Tax.

So if an unemployed individual makes profits of #200M in Capital Gains on the NSE, he'll be taxed like someone who works a high-paying job and earns a salary of #200M.

First 800k would be taxed at 0%
Next #2.2M taxed at 15%
Next #9M taxed at 18%
Next #13M taxed at 21%
Next #25M taxed at 23%

Remaining #150M would be taxed at 25%

Instead of getting #20M, the government would get #47.93M from YOUR money.

That's MORE than a 100% increase in Tax Liability!

Yet Oyedele is out there CAMPAIGNING for the New Reforms and touting its "simplicity" as if people are happy to take simplicity in exchange for being FLEECED to death.

It's even WORSE for Corporate entities.

Instead of paying #20M based on the Old Laws, they'd pay #60M according to the NTA 2025. Or #50M if Tinubu eventually reduces CIT to 25%.

People will eventually RUN away from NGX.