₦airaland Forum

Look for PZ to rally as Q3 is also expected in a few weeks.

dapix:
https://punchng.com/pz-cussons-drops-africa-exit-plan-cites-nigerias-recovery-and-growth/?utm_source=rss.punchng.com&utm_medium=web

Thanks so much

zendi:
"Dear Esteemed Client,
Kindly find below our bank account details for trading purposes:

Bank Name: Wema Bank
Account Name: Morgancapital Securities Limited
Account Number: 0125780364

OR

Bank: Zenith Bank Plc

Account name: MorganCapital Securities Limited

Account number: 1013840874

Please ensure that your name and CSCS number are clearly indicated in the payment narration for proper allocation


Regards,

Oluwaferanmi Akerewusi

Customer Service Representative

​
MorganCapital Securities Ltd.
(A member of MorganCapital Group)

Mobile: 08115190510, 08115190550.

NIJ House
Plot 2o, Adeyemo Alakija Street,
Victoria Island, Lagos State.
www.morgancapitalgroup.com"



NOTE : I obtained this info from them months ago but have not recently used them, though a very old client.

Please I need Morgan's account numbers for the deposit of clients funds. I emailed them twice this morning and they are yet to respond. I am not sure the Polaris number I have is still valid.

I think not. You have to be a gambler to want to bet.

Agbalowomeri:
You have lumped two conditional probabilities

If you were a gambler and want to bet that Tinubu will approve the suspension of the implementation of the CGT before midnight on December 31st, pending a review, what sector/stocks will you bet on?

Indeed. The following statement if true will mean that it is individual transactions of value >150m and profit>10m, and not aggregate that can be taxed.


"The law also exempts smaller transactions; disposals under N150 million with gains below N10 million..."

Yoursfaithful:
https://businessday.ng/business-economy/article/nigerian-investors-get-full-cgt-relief-on-reinvested-shares/

Confused government..

The temptation is great though. You only get one chance to acquire these refineries at give away prices.

mikeapollo:
The biggest mistake Oando would ever make is to get involved in any NNPC refinery matter!
They should stay clear and avoid the controversies, conspiracy theories, misinformation, politicking, etc that such move would bring.

After you missed Dangote Refinery?🤣

emmanuelewumi:
Who will determine the compensation?

Presco should come to Ogun State, we have land for the in Ogun State

The abraka-dabra continues. The NNPCL is just being quoted as saying they will partner with a private sector company in 2026. The link is below. The NNPCL said they were considering this same option during Kyari's time, just before they abandoned it and proceeded to restart the refinery. Let's see how the government will play this before the 2027 elections.

https://www.google.com/amp/s/businessday.ng/energy/article/nnpc-to-engage-private-partners-to-rebuild-refineries-ojulari/%3famp

bolton08:
There are speculations within NNPC that Port Harcourt Refineries could be sold to Oando.

Wish the brokers amongst us would give us a hint of who is selling, and why. Is it FPIs reacting CGT, or local institutional investors?

toyeoye:
Very well over 9B....Over 200M units traded on Monday

Maybe the talk of the private placement at N31 is what is keeping the price hovering at 30-31. The huge bids are always at 30, virtually capping the price at that level.

yMcy56:
What actually is holding FBNH down?
Huge bids against offers for the past weeks now....
Maybe Otedola is not done yet or looking for the right time to hit the market who knows...

Bills and their amendments can also be initiated by the legislature. It is only a rubber stamp legislature that waits for the executive to present bills.

Streetinvestor2:
Who presented the bill.Who is to represent amended version for senate to pass again

Who passed the law? Was it not the Senate? Who can amend it? Is it not the Senate?

yMcy56:
Senate urges Wale Edun to review the 30% CGT....as a matter of URGENCY

https://nairametrics.com/2025/11/13/n2-trillion-market-loss-senate-urges-edun-to-review-30-capital-gains-tax/

FG suspends plannned 15% import duty on PMS, diesel

https://punchng.com/fg-suspends-plannned-15-import-duty-on-pms-diesel/


One can't help but have an uncomfortable feeling that there is confusion among those steering our country's economy.

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

At least the uncertainty about CGT seems over. We may now have a normal Santa 🧑‍🎄 rally in December/January.

Agbalowomeri:
Una don make plenty money today o

Tomorrow is for the smart money exit

Who is selling GTCO? Bids at 85.80 get cleared quickly and replaced by offers.

Edun also mentioned review of tariffs. I hope they don't reduce the 15% tariffs on imports of refined oil. That is really Trump's issue with Nigeria and not any Christians. Unfortunately he got the government acting scared and the political opposition and religious leaders saying all sorts of irrelevant things.

nosa2:
Nigeria likely to review capital gain tax, Edun says

https://ngxforum.com/thread/124/marketwatch?page=2&scrollTo=436

The Government is not an Islamic financial institution.

Excellent7:
It is red everywhere!

Funny thing is that the government does not intend to participate in sharing from the realized losses but wants a piece of realized gains.

The market will have to bounce back up from tomorrow. It usually does after such a sharp one day fall. Otherwise we are in for a long one.

Ginalex:
FBNH 29+, UBA 34+, GTCO 77+, Zenith 54+ ati béèbéèlo Oyedele you'll be judged

I think nothing short of a clear announcement will stem this tide.

mikeapollo:
All that is required is for them not to implement that aspect of the law, simple. They don't need to make any announcement of suspension or whatever.
Finance Act 2021 had CGT 10% which was never implemented, and there was no uproar anywhere.

What are the odds that Tinubu will suspend this CGT? I want gamble on that.

We like fire fighting not preventing.

awesomeJ:
As long as we achieve the desired goal, even if na to presidency. Having a targeted action is what might work.

Buy I still feel NGX and the likes could have done much better to raise investors' concern while the laws were being drafted.

Sounds like me

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.

Lucky you. I also sold just before the interim dividends payment

nosa2:
Sold most of it a while ago

You still holding GTCO?

nosa2:
Picked up more FBNH, Zenith Bank and PZ today.

This bleeding has do.

I expect a reversal soon

People with this kind of holding don't sell in a hurry.

handsomebolanle:
Make e try sell first… lol
He has to sell in tranches

Could you please give the link to the full analysis on Ellah you screenshot?

handsomebolanle:
😁😁

Normally we shouldn't reword a law. We can only try and interpret the words as they are.

innovestor:
Section iii of the same 34a could be rewoded to mean "portfolio", as long as you buy shares with the sales value (irrspective of the 150 and 10m rule) within the same year.

I agree with your interpretation. I attach a shot of the section. Best us for people to get the Gazette itself.

Another point to consider is "... disposal of shares in any Nigerian company ...". This may mean that it is individual company based. There is no mention of "PORTFOLIO" in the law. Each company is regarded as a separate asset, just like in real estate where each property is regarded a separate investment. That means you have to own and dispose of shares worth N150m on aggregate in one company, and gain N10m from when you bought them before you pay tax. This maybe why they said that more than 97% of people in the market will not be affected. I may be wrong here. Hope the lawyers in the house would help.

Namaster:
This is how it's worded in the NTA 2025:

"Provided that gains accruing to a person on disposal of shares in any Nigerian company shall not be chargeable gains where the

(i) disposal proceeds, in aggregate, is less than 150,000,000 and the chargeable gain does not exceed 10,000,000 in any 12 consecutive months,"

It means the ONLY way to escape tax is that the Sales Proceeds must be less than #150M AND the Net Gain must be #10M or less.

BOTH of these conditions must be present if you want to AVOID the CGT.

If you meet ONLY one of the 2, then you'll be TAXED.

Another way to illustrate this is:

Above #150M sales proceeds but below #10M gain = TAX.

Below #150M SP but above #10M gain = TAX.

Above #150M SP and above #10M gain = TAX.

Below #150M SP AND below #10M gain = NO TAX.

Hope it's clearer now.