Nigerian equities are in the red again as panic-driven sell-offs wipe out roughly N1.8 trillion in market value within just four trading sessions this month.
The NGX All-Share Index (ASI) slid for the fourth consecutive day, dropping from 154,123.62 points at last Friday’s close to 150,026.55 points by Thursday, trimming year-to-date gains from 49.74% to 45.76%.
According to investors who spoke to Nairametrics, the panic sell-offs are linked to the federal government’s proposed 25% capital gains tax set to take effect in January 2026, which will apply to profits above a N150 million threshold.