₦airaland Forum

awesomeJ:
Following his tweet yesterday evening, Oyedele went on Channels again this morning to clarify the CGT implementation. 5% dip made them see they needed to calm nerves.

Watch if you want:

https://www.youtube.com/watch?v=BrdUrnUs6QE?si=FdIlm6tRXP-YGo-N

This really the first time I am listening to this guy.In a country that knows what they want with the economy. This guy would have been sacked immediately for all this front and back confusion.This guy knows nothing and over rated.This guy has no investment on ngx.He is just now trying to cover his failures. He was the person who said the law will be retrogressive and is a situation investors have to live with even when he knew devaluation had occurred over time..He is claiming is not the cgt that was responsible. Why then is he retracing his pronouncement. He was over hype all this time.He doesn't even know how he will implement the things in that bill.He is not as smart as I was made to believe all this time listening to the rubbish in this interview. See how he is confused and shaking
For heaven sake how did he get this job

mikeapollo:
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.

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.

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.

He has turned again to say portfolio value of 150 millions. Which now is it.He is confused and cannot present what he read from books well

Streetinvestor2:
He has turned again to say portfolio value of 150 millions. Which now is it.He is confused and cannot present what he read from books well

He is not straight forward person.
Same man that was going round saying CGT would be retrospectively applied now said on TV today that everyone had been misrepresenting the fact. If not between last night and today, he had never mentioned all he said today. I am even having a feeling that all he had been saying before now are what there is in the act. His most recent comments are probably the review they are planning.

Streetinvestor2:
He has turned again to say portfolio value of 150 millions. Which now is it.He is confused and cannot present what he read from books well

I have heard him too. The suit man is confused.

It is obvious he's really not grounded in the nitty gritty of stock market

Although he did say that folks from the NGX and stockbroker etc did NOT raise concerns while the laws were out for debates for months and I think that's true.

Like someone said people were more focused on things like VAT.

Also, more importantly he said there's no way the law could have been written to have full implementation details otherwise it gets overly verbose.

Based on that the actual implementation details will still be subject to adjustments as stated by the finance minister.

But I also agree with you guys @streetinvestor2, @unite4real, @itzlinda.

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)

Ngx

FEDERAL GOVERNMENT MAY SUSPEND NEW TAX LAW RELATING TO NGX.
The drama has just begun😁



https://guardian.ng/news/fg-may-suspend-planned-cgt-over-market-concerns/

It is interesting catching up with this trend after this historic dump.

This tax man keeps saying portfolio worth 150m and did not mention about the 10m gain abi that one does not apply again? He keeps saying majority of investors need not to worry because their portfolio doesn't worth 150m as if the investors portfolio will remain static.

Time will tell

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)

@bolded..
Exactly..

Good morning everyone,

Please I have a quick question... After buying my RI from Presco, I was told I can buy more.

I want to ask if it's possible/okay to do that?

samarine:
Good morning everyone,

Please I have a quick question... After buying my RI from Presco, I was told I can buy more.

I want to ask if it's possible/okay to do that?

You can speak to your stock brokers.

But you're effectively paying extra N50 per share.

That's extra N5m for 100k units.

Why not buy on the floor and maybe help someone close to you with that extra N5m. If you find the right person, it might be enough to change their financial situation forever 😁.

Anyways I believe you might have your reasons for preferring the RI, so speak to your stockbrokers. The rights are also trading on the floor.

🤣🤣🤣🤣 This has to be the funniest statement i have seen this year on this forum...

tagonn077:
You buy a stock for a quick scalp then it dumps 50%… cos you can’t sell for a loss, you’re become a long-term investor attending AGMs and asking management about their corporate vision.

samarine:
Good morning everyone,

Please I have a quick question... After buying my RI from Presco, I was told I can buy more.

I want to ask if it's possible/okay to do that?

Yes, very possible. On the form complete the part asking if you wish to buy additional units. However, note that additional units are not your right so you may not get everything you applied for. Getting additional units depends on availability from those who didn't pick their rights.

Hahahaha... Una no go kill person for here with laugh. I have missed two days of laughter..🤣🤣🤣

Agbalowomeri:
Na Loco disciple

Royalex
Japaul
Caverton
Ati bebelo

Yesterday, almost 13billion(12.9billion) entered Aradel, hmmm these people no want make we buy this stock low.
I missed the chance to top up at below 700. Had to buy high at 710 yesterday. Make Una bring this stock down small naa.

Mpeace:
Yesterday, almost 13billion(12.9billion) entered Aradel, hmmm these people no want make we buy this stock low.
I missed the chance to top up at below 700. Had to buy high at 710 yesterday. Make Una bring this stock down small naa.

Wetin oil and gas do you?

Thank you, for contributing.

I believe it's cheaper taking the RI and I am paying 1420 PS, even for the extra they advised if I wish to take.

awesomeJ:
You can speak to your stock brokers.

But you're effectively paying extra N50 per share.

That's extra N5m for 100k units.

Why not buy on the floor and maybe help someone close to you with that extra N5m. If you find the right person, it might be enough to change their financial situation forever 😁.

Anyways I believe you might have your reasons for preferring the RI, so speak to your stockbrokers. The rights are also trading on the floor.

I appreciate your input.

I am actually taking the offer on NGX platform.

emmasoft:
Yes, very possible. On the form complete the part asking if you wish to buy additional units. However, note that additional units are not your right so you may not get everything you applied for. Getting additional units depends on availability from those who didn't pick their rights.

samarine:
Thank you, for contributing.

I believe it's cheaper taking the RI and I am paying 1420 PS, even for the extra they advised if I wish to take.

Okay.
I am paying 1360 PS on the floor though.

My maths says 1360 is N60 cheaper PS.

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

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:
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.

Toluway:
FEDERAL GOVERNMENT MAY SUSPEND NEW TAX LAW RELATING TO NGX.
The drama has just begun😁



https://guardian.ng/news/fg-may-suspend-planned-cgt-over-market-concerns/

The Bull beckons

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??

Interesting data, please share source.

abbyintuition:
Interesting data, please share source.

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.

Always

edwardaigb:
It's well.

awesomeJ:
Okay.
I am paying 1360 PS on the floor though.

My maths says 1360 is N60 cheaper PS.

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.

Please read the Gazette of the law. There is no mention of "PORTFOLIO", or cumulative transactions. People are just interpreting anyhow. A screenshot of the relevant section was posted here.

Streetinvestor2:
He has turned again to say portfolio value of 150 millions. Which now is it.He is confused and cannot present what he read from books well

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

Don't get it.Does it mean hope fit dey for total side again