₦airaland Forum

pluto09:
https://punchng.com/no-automatic-bank-deductions-under-new-tax-laws-oyedele/

Oyedele dismissed claims that the government would monitor or debit individual bank accounts, stressing that taxpayers would only be required to declare their income at the end of the tax year.

“People think that the government will debit their bank accounts from next year, and how they even came up with that, I have no idea. Nobody will debit your account for any amount you transfer. Whether it’s a billion or one thousand naira, at the end of the year, you tell the government yourself,” he said.

emperor00:
If this is not their plan then why did they go to great lengths by inputing the clause in the bill? They are still yet to give clarifications on what happened

jonnysessy:
Happy New Year to you all
Happy new CGT to all NSEMPA members.
Happy profitatable year to us all.
Happy new compounding to us all.
Happy new patience in holding.
Happy new balancing of portfolio.
Happy new holding and reduce JIJO
Happy new banking recapitalization.
Happy new insurance recapitalization.
Happy new correct description in money transfer.
Happy new 2026 to us all.

royal200:
Please i need a guidance on stock and investment. Please who can help. I like investing /buying stocks of 500k evert month till year ends. Please i need to know where to start and what to buy

chimex38:
@Namaster @mallamOmonile1, anyone please.
I know you've over cracked your brain this evening on this tax scenarios enough for headache esp Namaster.

Just a direct question please:

Since CGT applies to physical properties as well.
if someone sells a property and invests proceeds in NGx, will it be taxed?
Isn't it more like asset reinvestment?

mallamOmonile1:
Dear Chimex38

My opinion on your question is:

The reinvestment exemption only applies to sale of shares that is reinvested into purchase of shares. It is strictly a share -to-share stuff.

Therefore to answer your question directly, the sale of property will be taxed appropriately even if the proceeds are reinvested in stocks.

Just my view ni o, i no too know book.

jonnysessy:
Happy New Year to you.

This is a great milestone if you can be consistent with it. I had also set a similar record for myself this 2026. The following are the things that you will do to achieve your aims:

1. You need to register with a stockbroker.
2. You need to know which company you will like to have in your portfolio ( know what they do)
3. Define why you are buying ( for capital appreciation, dividend, retirement, long term or short term, trading etc)
4. Study the current financials of the company. Could be quarter reports. You can even check their financials for the last five years.
5. Commit your money by buying the shares of your choice.
6. Once you have made the first purchase. Watch the price movement. It can either go up or down. Don't let that worry you. You can buy more to average down.
7. You must also decide if you are buying a penny stock or high price stocks. It all depend on you and the cash at your disposal.
8. Diversify your portfolio. Pick a stock from different sectors.
9. Pick the best in each sector ( the best form of diversification if you can maintain it)
10. Read widely on anything pertaining to stocks. Read through this thread and form your own opinion.
11. You remain the CEO of your porfolio. Always do your own due deligence before you commit your money.

It may not be easy to recommend any stock for you now since i don't know your answers to some of the questions asked. But, i will let you know the companies in my portfolio in no particular order:

1. Zenith Bank
2. Seplat
3. Aradel
4. Presco
5. Okomu oil
6. UCAP
7. NAHCO
8. NB
9. WAPCO
10. Dangote Cement
11.MTNN
12. Transcorp Power
13. May and Baker
14 CAP
15. African Prudential
16 GTCO
17 Fidelity Bank
18. UBA
19. Access Bank
20. NGX
21. NIDF
22. Ikeja Hotels
23. Chams
24. Oando
25. Daar
26.Dangote Sugar
27. Stanbic IBTC
28. Custodian
29. Total.

Those are the stocks i presently have in my two different accounts. I am presently working on how to reduce it to 12 compannies. You don't need to have shares of every company on NGX

Namaster:
Let's break it down.

First deal is a #50M gain from a sales proceeds of #100M.

Second deal is a FULL reinvestment of #100M.

Third deal is a sale proceeds of #30M with ZERO gain or loss.

Your AGGREGATE would look like:

#50M gain +/-#0 =#50M.

So Tax Authorities would assume that #50M is your Chargeable gain from your activities for that year of assessment.

And ordinarily, the full #50M would be subjected to tax.

But since you only withdrew #30M, that's the portion that would be subjected to tax.

It's just like the law says.

jp130:
If I were to be you, I will not reduce the number, rather I will select some stocks and increase my holding in them.

very good stocks you have there.
happy new year to us all

Namaster:
NO.

The purpose of the REINVESTMENT Clause is to RETAIN money in the NGX.

The way you explained it made it sound like Oyedele collected billions from Tinubu just to design a BIG, FAT and extremely obvious LOOPHOLE.

The tax law FIRST looks at individual transactions.
Then AGGREGATE portfolio.
Then what you did with ANY gains from that portfolio.

What that means in numbers

Scenario 1.

1. A first transaction of #100M Sales Proceeds from a #50M cost price. That's a potentially chargeable gain of #50M.

2. FULL REINVESTMENT.

3. That's EVERYTHING you did in the NGX that year of assessment.

Your tax liability related to CGT for that year would be ZERO.

Scenario 2.

1. A first transaction of #100M Sales Proceeds from a #50M cost price. That's a potentially chargeable gain of #50M.

2. FULL reinvestment.

3. Sold new acquisition of #100M at #100M.

4. Withdraw.

5. PAY TAX!

That's because the New Laws are applicable on NET GAINS.
And for Net Gains to be a factor, you must be looking at a BIGGER picture, i.e, the portfolio.

So, first transaction has a gain of #50M.
And you broke even in the second deal so made #0 gain or loss.

Net Gain for your portfolio would be #50M-#0 =#50M.

That #50M would be subjected to tax.

OsunOriginal:
The new law encourages reinvestment instead of withdrawal which is good for NGX. I see a massive growth coming over the next few years.

EDUECO:
If you're a newbie start buying ACCESSCORP because it is the best banking equity in terms of future value and current price!

ACCESSCORP enabled the actualization of Dangote refinery.Dangote said it in one of his interviews.

A happy and prosperous 2026 to everyone.

Streetinvestor2:
It won't still be like 2019 because one person does not have organic 12 million vote following him up and down like Buhari..lol

Streetinvestor2:
Why u dey waste u strength. Your initial interpretation is very correct. Any one can be forming guru on the matter to make tax consultant feel special. The only thing thr is space it for some time for next stock investment as new reset.@osita once collaborate this position. I no send anyone opinion on the stupid tax law.I have my faith it won't go beyond 2027 for them to get out.
I don even warn one bank person as he called to talk about TIN number. Is thr luck they now say they are using NiN.They won't see my shishi.If you be big customer to me you pay for your goods to my supplier account directly. It is legal in business transactions You go wait for turn over explanation tiya no evidence

emmanuelewumi:
Well that was an article on Facebook that I shared

zendi:
Happy New Year BNSITL.

Brothers 'n Sisters In The Lord.

CGT or not, successes be our experiences, in both trading and investing, with good health, this year and onwards, in Jesus' Name.

onegentleguy:
It's a new down fine people!

First, we must thank God Almighty for the most peerless privilege of life and continues guidance.
...honestly, we can never thank him enough!

It's hello 2026!
There can be no better way to begin the year than the noble act of giving--extending a helping to those in need.
You don't necessarily need to look too far away; just start where you are. Visit the nearest Hospital, Care Center or Orphanage Home near you today. You can also reach out to a family member/loved one, friends or even a stranger in need of a shoulder to lean on.
Nothing can be deemed too small. As I always tell folks; value isn't a function of amount but of intent and impact.

As we mark the beginning of another year, we earnestly pray that God will continue to direct our actions and inactions, grant us strength in health and immeasurable blessings; and enlarge our experience of joy in ways that surpass human understanding.

For us @ FINMAP, 2025 was a beautiful year with so many pockets of great WINS.
Divine on our side, 2026 will be even BETTER!
Here's raising a glass to a fruitful and fulfilling experience this year and beyond. 🥂🥂
May we all live as long as we want, and never want as long as we live and may the best of 2025 be the smallest of milestones in 2026 for you and yours!

~Finmap

Agbalowomeri:
Una still dey on top this tax matter
If you no wan pay tax, the government cannot force you because they are not yet sophisticated

Mankind2024:
Vote of Confidence in Vitafoam Nigeria PLC Management.
As a proud shareholder of Vitafoam Nigeria PLC, I extend my heartfelt commendation to the Board and Management, led by Group Managing Director/CEO Mr. Taiwo Adeniyi, for their outstanding leadership and exceptional results in the financial year ended 30 September 2025.
Despite a challenging and extremely difficult operating environment, the company delivered stellar performance, with revenue growing 35% to approximately ₦111.37 billion and profit after tax surging over 1,400% to around ₦14.3 billion. This remarkable recovery reflects strategic foresight, operational excellence, and resilient execution.
I fully support, in advance, all resolutions proposed for the 64th Annual General Meeting scheduled for 5 March 2026, including the recommended dividend of ₦3.00 per share, the bonus issue, and other agenda items.
Looking ahead, the future appears brighter than ever, with expanding distribution networks across Nigeria and neighbouring West African countries positioning Vitafoam for sustained growth and greater shareholder value.
Well done, Team Vitafoam! Keep up the excellent work.

onegentleguy:
It's a new dawn fine people!

First, we must thank God Almighty for the most peerless privilege of life and continues guidance.
...honestly, we can never thank him enough!

It's hello 2026!
There can be no better way to begin the year than the noble act of giving--extending a helping to those in need.
You don't necessarily need to look too far away; just start where you are. Visit the nearest Hospital, Care Center or Orphanage Home near you today. You can also reach out to a family member/loved one, friends or even a stranger in need of a shoulder to lean on.
Nothing can be deemed too small. As I always tell folks; value isn't a function of amount but of intent and impact.

As we mark the beginning of another year, we earnestly pray that God will continue to direct our actions and inactions, grant us strength in health and immeasurable blessings; and enlarge our experience of joy in ways that surpass human understanding.

For us @ FINMAP, 2025 was a beautiful year with so many pockets of great WINS.
Divine on our side, 2026 will be even BETTER!
Here's raising a glass to a fruitful and fulfilling experience this year and beyond. 🥂🥂
May we all live as long as we want, and never want as long as we live and may the best of 2025 be the smallest of milestones in 2026 for you and yours!

~Finmap