What the new tax landscape means for you
This section is particularly relevant for domestic and foreign investors with Nigerian equity, bond, or business exposure. Investors seeking to understand Nigeria’s tax on investments, withholding tax in Nigeria, capital gains tax in Nigeria, or how Nigerian tax policy affects stock market returns will find this section directly useful.
Nigeria’s tax environment in 2026: What changed and what it means
Nigeria’s tax landscape shifted materially heading into 2026, and understanding those changes is now a necessary part of any investment decision involving Nigeria.
The CBN banking recapitalization and its tax implications
Nigerian banks are currently undergoing a recapitalisation exercise with a March 2026 deadline. Several banks have raised capital through public offers and private placements – including First HoldCo’s ₦107 billion private placement, which was listed on the NGX in January 2026. For investors who participated in these offers, the tax treatment of any gains depends on the instrument and holding period. Rights issues and bonus shares are subject to specific CGT and WHT treatment under Nigerian law, and investors should confirm this with a qualified local tax adviser.