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ADVERTISEMENT

NGX Enlightens Stakeholders on Capital Gains Tax Ahead 2026 Rollout

Temi Popoola ngx Group

Temi Popoola, MD/CEO, NGX Group

The Nigerian Exchange Group (NGX Group) recently led a high-level virtual dialogue to break down the Capital Gains Tax (CGT) provisions in the upcoming Tax Reform Act 2024, set to take effect in January 2026.

The event convened regulators, investors, issuers, intermediaries, and policymakers to align understanding and surface implementation concerns.

Unpacking the New CGT Framework

A central point of discussion was the 30% CGT rate on gains from share disposals, which mirrors Nigeria’s corporate income tax.

Stakeholders debated critical details including:

  • How to establish base cost (with suggestions to compute from the effective date)
  • The tax treatment of cross-listed securities, with cautions about compliance complexity and potential for double taxation

NGX & Policymakers Bridge Market and Policy Perspectives

Alhaji Umaru Kwairanga, Chairman of NGX, emphasized the Exchange’s role as a mediator:

“At NGX, we believe policy shifts must be clearly understood and calibrated to preserve market confidence. Our core function is facilitating engagement so reforms support sustainable growth.”

From the government side, Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy & Tax Reform, added that the reforms are meant to foster fairness and transparency—not to deter investment. He noted that platforms like this stakeholder forum help ensure market feedback is reflected in how the law is implemented.

Temi Popoola, NGX’s Group CEO, echoed the need for market resilience:

“Reforms of this scale will raise important questions for issuers and investors. Through structured dialogues, we provide clarity, enable adaptation, and help the capital market remain forward-looking.”

Participants lauded the session as timely, underlining NGX’s growing standing as a bridge between policy architects and industry players

[Source: Leadership News]

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Tags: Gains TaxNGXshareholders
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