₦airaland Forum

Jayce242:
There is nothing like misinformation or ignorance, tax is tax! There is no way it will benefits the citizen in a country where govt account for nothing! Previous monies have not been accounted for, this will be no way different.

NNPCL debts has been written off
Financial Cash out for some.

They should write off my tax as well Ooo
Otherwise provide social services cash out.

Has the market closed?

otokx:
Has the market closed?

Don't worry, just get prepared next year.

I wish you a happy new year in advance.

Half of 750m usd has gone to seplat. Tony Tony

I was pleasantly surprised to find CONOIL small dividend resting in my account just now.

Zagee:
Half of 750m usd has gone to seplat. Tony Tony

Are you confusing Tony for Otedola?

Abi are you referring to a different 750m USD?

awesomeJ:
Are you confusing Tony for Otedola?

Abi are you referring to a different 750m USD?

You are not aware Tony got his owm 750?? Well. he has just applied it

awesomeJ:
Are you confusing Tony for Otedola?

Abi are you referring to a different 750m USD?

😂😂😂

emmanuelewumi:
Just 103% subscription. Got roughly N257 billion

Without extension,
despite the price.
Despite the turbulent month of November amid Trump and tax balablu.
Still raised 0.25Trillion in a month!!
about Half of either Benue or Kogi proposed 2026 budget
This life no balance.

People stretched themselves for the company.

The company get plenty goodwill.

jonnysessy:
Don't worry, just get prepared next year.

I wish you a happy new year in advance.

I just hope the man wasn't planning to exit his large holdings today by 1pm so as to escape CGT.
Only to find out... Ọ la gho
(it has gone)

Zagee:
You are not aware Tony got his owm 750?? Well. he has just applied it

Ohh..
I see what you mean.
The AFREXIM Bank facility.

awesomeJ:
Yes sir.

If I buy a stock with N50m in January, and by June, it's done 100% and is then valued at N100m

Even if I sell and have no plans to remain on the market, I will sell for N100m, then repurchase for N100m and resell for N100m.


Two transaction tranches:.
First leg: I entered at N50m and exited at N100m , N50m gains .

It won't be taxable cos I'm deploying the process into the second tranch.


Second tranch:

I entered and N100m and exited at N100m

No profits hence no tax.

This is EXTREMELY WRONG!
And it could get you in trouble with Tax Authorities.

If Oyedele devised a system that could be gamed in such a SIMPLISTIC way, he would NOT be the second-most HATED man in Nigeria.

CORRECTION:

First thing you must understand is that the gain chargeable to tax would be the based on the AGGREGATE transactions on your portfolio.
NOT individual transactions.

So based on your example,
First transaction has Sales Proceeds of #100M and Cost Price of #50M.

Second transaction has Sales Proceeds of #100M and Cost Price of #100M.

Calculation would look something like this:

Aggregate Sales Proceeds= #200M (#100M + #100M)
Aggregate Costs= #150M (#50M + #100M)

Chargeable Gain is STILL #50M.

You'd be somersaulting for NOTHING.

The ONLY time you'd NOT have to worry about CGT is when you are continuously REINVESTING with no intention to take out any money from the gains you made on NGX.

Which seems to be your own PLAN.

But for people who intend to withdraw anything from the gain, that strategy is a WASTE of time.

Another thing to NOTE is the timeline when the REINVESTMENT clause kicks in.

[b[i] Section 34(iii) proceeds from such disposal, notwithstanding the threshold in (i), are reinvested within the same year of assessment in the acquisition of shares in the same or other Nigerian companies.
[/i]][/b]

So when you advised people to consider spacing their transactions over weeks, let them know to keep the year of assessment in mind.

chimex38:
Without extension,
despite the price.
Despite the turbulent month of November amid Trump and tax balablu.
Still raised 0.25Trillion in a month!!
about Half of either Benue or Kogi proposed 2026 budget
This life no balance.

People stretched themselves for the company.

The company get plenty goodwill.

It helps that about 70% came in as FDI.

So the actual amount raised is more like N100bn, which is still a solid figure.

But I just didn't like that you were making it seem like my friend's state was low budget 😁😁😁

Most insurance firms in the different categories have met and surpassed the recapitalization requirement.

Very few have a billion or two to add to meet up.

About two insurance firms have negative capital.

Another two or three need to raised around N15b to meet up.

Much activity should not be expected as many of the insurance firms may not visit the market to raise fund other than to bolster their capital

yMcy56:
ACCESS: Stock na water.....lol
Only God knows who these guys using the stock to play ping pong are.....

Meanwhile, EUNISELL @115!!
What a wonderful stride!

*NO SHIFT IN INSURANCE RECAPITALISATION*
https://thenationonlineng.net/no-shift-in-2026-recapitalization-deadline-naicom-insists/

Namaster:
This is EXTREMELY WRONG!
And it could get you in trouble with Tax Authorities.

If Oyedele devised a system that could be gamed in such a SIMPLISTIC way, he would NOT be the second-most HATED man in Nigeria.

CORRECTION:

First thing you must understand is that the gain chargeable to tax would be the based on the AGGREGATE transactions on your portfolio.
NOT individual transactions.

So based on your example,
First transaction has Sales Proceeds of #100M and Cost Price of #50M.

Second transaction has Sales Proceeds of #100M and Cost Price of #100M.

Calculation would look something like this:

Aggregate Sales Proceeds= #200M (#100M + #100M)
Aggregate Costs= #150M (#50M + #100M)

Chargeable Gain is STILL #50M.

You'd be somersaulting for NOTHING.

The ONLY time you'd NOT have to worry about CGT is when you are continuously REINVESTING with no intention to take out any money from the gains you made on NGX.

Which seems to be your own PLAN.

But for people who intend to withdraw anything from the gain, that strategy is a WASTE of time.

Another thing to NOTE is the timeline when the REINVESTMENT clause kicks in.

[b[i] Section 34(iii) proceeds from such disposal, notwithstanding the threshold in (i), are reinvested within the same year of assessment in the acquisition of shares in the same or other Nigerian companies.
[/i]][/b]

So when you advised people to consider spacing their transactions over weeks, let them know to keep the year of assessment in mind.

What's your basis for this correction?

As far as I'm concerned you're just assuming.

What the tax man has said is that once you reinvest, your cost basis becomes the new N100m, you thinking it'll be aggregate of all you purchased is an assumption.

Cos no where in the tax laws is aggregate cost meantioned.

You're fabricating it out of imagination.

Please bring facts to disprove this, so we can all learn.

As it is, you're just countering with your own interpretation, not really what the law says.

Aggregate cost is something that doesn't exist anywhere in the law.

awesomeJ:
It helps that about 70% came in as FDI.

So the actual amount raised is more like N100bn, which is still a solid figure.

But I just didn't like that you were making it seem like my friend's state was low budget 😁😁😁

True, I forgot the FDI from that Siat group.

No vex for the states matter, I have no issues with them.
Just trying to quantify that amount in context.
(Good you brought it up though for clarification. Didnt see it that way)

awesomeJ:
Fbn closed at N47.9

I picked at 40.65 averagely.

Agba saw it, he was still waiting at 27.

I no fit touch fbn with a long pole Lol

Agbalowomeri:
I no fit touch fbn with a long pole Lol

When you've not even touched GTB.

Someone of us know when 40.65 is too cheap to ignore, especially when Otedola still has a trillion naira looking for a new home.

ARADEL. -1.46%
CONOIL. ±
ETERNA. ±
OandO. +0.50%

Also @Namaster, Imagine if I bought shares with N50m, sell for N100m, reinvest N90m and withdraw N10m.

Your interpretation expects me to pay the entire N10m as tax?

Abi how would you calculate?

If you used aggregate purchase, you would get N140m and sales of N100m, would you interpret that as a N40m loss when in reality there's a N50m profit?


I'm not trying to have a heated debate with you .

I would just like you to analyze different scenarios with your interpretation, so that we can all learn.

Also did you notice that the term aggregate despite being only used for sale, isn't even relevant to reinvestment. It's only relevant to determine whether or not you've reached N150m in sales for the year.


Please teach us. Since the very next market session will already be under these new laws.

awesomeJ:
Also @Namaster, Imagine if I bought shares with N50m, sell for N100m, reinvest N90m and withdraw N10m.

Your interpretation expects me to pay the entire N10m as tax?

Abi how would you calculate?

If you used aggregate purchase, you would get N140m and sales of N100m, would you interpret that as a N40m loss when in reality there's a N50m profit?


I'm not trying to have a heated debate with you .

I would just like you to analyze different scenarios with your interpretation, so that we can all learn.

Also did you notice that the term aggregate despite being only used for sale, isn't even relevant to reinvestment. It's only relevant to determine whether or not you've reached N150m in sales for the year.


Please teach us. Since the very next market session will already be under these new laws.

The tax man will collect the tax due for the 10m you are taking away from the system. That's my own understanding provided you didn't try to take anything away from the system that year you reinvested.

Guys congratulations on a beautiful 2025

Wishing you a bearish 2026

Agbalowomeri:
Guys congratulations on a beautiful 2025

Wishing you a bearish 2026

Same to you Agba

thebargainhunte:
The tax man will collect the tax due for the 10m you are taking away from the system. That's my own understanding provided you didn't try to take anything away from the system that year you reinvested.

That's my understanding too.

But the aggregate buy that Namaster is saying wouldn't make sense in that case since it would be 140m buy vs 100m sale, going by his interpretation, are we to now reckon a N40m loss?

When he comes, he will teach us, with solid anchors for his interpretations.

Agbalowomeri:
Guys congratulations on a beautiful 2025

Wishing you a bearish 2026

When actually do you make your own money in this market ?

Agbalowomeri:
Guys congratulations on a beautiful 2025

Wishing you a bearish 2026

You should wish the bears a bearish market and we bulls a bullish market na.

Which one is this biased wish.

If you want something that covers everyone at a go, then just wish us all a profitable year.

jonnysessy:
When actually do you make your own money in this market ?

Once in a blue moon when crude crashes below $0.

awesomeJ:
Once in a blue moon when crude crashes below $0.

Nigerian Creditors will literally be going house-to-house to take and sell properties.

chimex38:
Nigerian Creditors will literally be going house-to-house to take and sell properties.

Shey you remember that scenario happened 5 years ago during COVID lockdown.
Global oil consumption crashed by over 70%

You had to pay people to buy oil from you 😁😁😀


That's the only thing that will make Agba get some of the prices he's waiting for.

AwesomeJ, understand this:

I am NOT trying to debate anything with you.

I am attempting to RECTIFY the wrong information you passed that could MISGUIDE people and potentially land them in legal trouble.

People could follow it and get in SERIOUS trouble.
Especially the rich people who do BIG transactions in the the NGX.

Best thing for people like that is to get a Tax Lawyer or a Tax Accountant.

Now on your first post:
What the tax man has said is that once you reinvest, your cost basis becomes the new N100m, you thinking it'll be aggregate of all you purchased is an assumption.

You are interpreting this to mean that a REINVESTMENT means a blank state.
That reinvestment wipes out the previous gain.

WRONG!

First thing you need to understand is that CHARGEABLE GAIN is computed on INDIVIDUAL transactions.
But the applicable taxes would be based on the AGGREGATE Portfolio.

jonnysessy:
When actually do you make your own money in this market ?

Whenever I buy low and sell high

Agbalowomeri:
Guys congratulations on a beautiful 2025

Wishing you a bearish 2026

You are welcome..content creator.