Nigeria’s capital market is in turmoil following fresh concerns over the impending 25% Capital Gains Tax (CGT) on share disposals set to take effect in January 2026.
The anxiety stems from new clarifications made by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, during an engagement organized by the Nigerian Exchange Group (NGX) last month.
Oyedele explained that under the new rule, investors who sell shares and reinvest the proceeds in fixed-income securities or other non-equity assets will be subject to a 25% CGT.