The Chief Executive Officer, NGX, Temi Popoola, disclosed this at the Nigerian Economic Summit Group Fiscal Policy Roundtable held at the weekend.
According to him, the tenets of the 2021 Finance Act brought a lot more clarity on investment such as the Real Estate Investment Trust , Capital Gain Tax and Securities Lending transaction. Further highlighting the direct impact of the act, Popoola stated that the introduction of the capital gains tax on transactions over N100 million is a welcome development in line with the government’s drive towards an increased tax bracket.
According to him, as retail investors were the primary drivers of the market in 2021 and largely fell below the N100 million cap, this policy should drive further participation by those in this category.
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