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CapitalGainsTaxNigeria: FG Reaffirms Commitment to Balanced Policy Outcomes

Phinadon Mag

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Quick Summary:
CapitalGainsTaxNigeria as the Federal Government assures stakeholders of fair and balanced implementation of the Capital Gains Tax while celebrating the listing of MoFI’s Real Estate Investment Fund Series 2 on the Nigerian Exchange.

The Federal Government of Nigeria has reaffirmed its commitment to achieving balanced outcomes in the implementation of the Capital Gains Tax (CGT), assuring investors and market participants of continued engagement to ensure fairness and inclusivity.

The assurance was given by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the Nigerian Exchange (NGX) closing gong ceremony held in Lagos to commemorate the listing of the Ministry of Finance Incorporated (MoFI) Real Estate Investment Fund (MREIF) Series 2.

Government’s Position on Capital Gains Tax

Mr. Edun acknowledged the concerns raised by stakeholders regarding the Capital Gains Tax, emphasizing that the government would maintain open dialogue with the capital market to ensure that the policy supports both national revenue goals and investor confidence.

Market Context and Investor Sentiment

According to the Nigerian Exchange (NGX), the listing of MREIF Series 2 took place amid cautious trading in the equities market, as investors adjusted portfolios in response to both global and domestic economic developments.

Analysts observed that while market liquidity remains strong, aligning fiscal policies with investor expectations is essential to sustain confidence and encourage long-term participation in Nigeria’s capital market.

NGX Leadership Calls for Policy Balance

Temi Popoola, Group Managing Director of NGX Group, reaffirmed the capital market’s role as a driver of inclusive growth and urged the government to ensure that fiscal policies like the CGT strike a balance between revenue generation and market stability.

He added that the NGX Group remains committed to supporting the Renewed Hope Agenda by mobilizing private capital for sustainable, long-term development initiatives.

Collaboration for Housing and Economic Growth

The ceremony highlighted the collaboration between the Federal GovernmentMoFI, and the private sector in mobilizing innovative financing for Nigeria’s housing sector.

Ahonsi Unuigbe, Chairman of NGX, described the listing as a defining step toward transforming Nigeria into a leading economy that guarantees shared prosperity.

Jude Chiemeka, Chief Executive Officer of NGX, noted that MREIF demonstrates how the capital market can provide practical solutions to national challenges.

Armstrong Takang, Managing Director of MoFI, explained that MREIF would provide long-term, low-cost mortgage financing, making homeownership more accessible to millions of Nigerians. He added that the initiative would stimulate local economies, expand inclusive participation, and strengthen the housing value chain.

MREIF as a Model for Inclusive Growth

With over 1,000 mortgages already disbursed, MREIF continues to expand middle-class wealth and deepen capital market participation. The initiative is being positioned as a model for inclusive growth, demonstrating how institutional capital can drive financial stability and social progress.

Entertainment

The Dangers of Over-Pampering: A Warning from Mama G.

Ikechukwu Emmanuel

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Veteran Nollywood actress, Patience Ozokwor, affectionately known as Mama G, has issued a poignant caution to parents regarding the potential pitfalls of over-pampering their children. Her insights, delivered with characteristic candor, underscore the critical link between childhood experiences and the development of responsible, independent adults.

Ozokwor argues that shielding children from challenges and readily providing for their every whim can, paradoxically, hinder their growth. She contends that allowing children to “struggle” and “go through the process” of earning what they desire is essential for character building. This approach, she clarifies, is not about inflicting hardship but rather about fostering resilience and an understanding of the effort required to achieve goals.

The actress also touched upon the delicate subject of family wealth and inheritance. She advocates for instilling in children the drive to create their own success rather than passively expecting to inherit their parents’ achievements. Mama G revealed she applied this principle directly with her own son, encouraging him to build his own home rather than assume entitlement to hers.

In an era where parental instincts often lean towards providing comfort and ease, Mama G’s words serve as a timely reminder. Her message resonates with the timeless wisdom that true preparation for adulthood lies not in the absence of struggle, but in the learned ability to navigate and overcome it. Parents, she suggests, must find a balance that nurtures their children without inadvertently undermining their capacity for self-reliance.

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Entertainment

Burna Boy has reportedly made history as the first Nigerian artist to achieve 4 billion views on YouTube.

Ikechukwu Emmanuel

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Nigerian Afrobeats sensation Burna Boy has once again etched his name in the annals of music history, reportedly surpassing an astounding four billion total views on YouTube. This monumental achievement not only solidifies his status as a global superstar but also marks a significant milestone as he becomes the first Nigerian and Sub-Saharan African artist to reach such a staggering figure.

The reported feat encompasses the combined views across Burna Boy’s official YouTube channel, a testament to the enduring appeal and widespread reach of his music videos. From infectious rhythms to compelling visuals, his work has consistently captivated audiences across continents, transcending geographical and cultural boundaries.

This latest accomplishment builds upon a series of remarkable achievements on the video-sharing platform. As far back as 2021, Burna Boy shattered records by becoming the first Nigerian artist to exceed one billion total views on YouTube, foreshadowing the immense global impact he would continue to cultivate.

His impressive catalogue boasts a string of hit songs that have collectively garnered millions of views, each a testament to his unique artistry and genre-bending sound. Tracks like “On The Low,” “Ye,” “Last Last,” and “For My Hand” have become anthems, resonating with fans worldwide and contributing significantly to his colossal view count.

Burna Boy’s journey to global recognition has been characterized by consistent innovation, authenticity, and a relentless dedication to his craft. A Grammy-winning artist, he has not only brought Afrobeats to the forefront of the international music scene but has also proudly showcased the richness and diversity of African culture to a global audience.

This four-billion-view milestone is more than just a number; it represents the profound influence and unwavering popularity of an artist who continues to break barriers and redefine the landscape of contemporary music. Burna Boy’s success serves as an inspiration, demonstrating the immense potential of African artists to command a global stage and leave an indelible mark on the world.

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News

Nigerian military personnel have successfully rescued the wife of a retired general within 24 hours of her abduction.

Ikechukwu Emmanuel

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The Nigerian Army has successfully rescued Mrs. Adonkie, wife of retired Brigadier General Basil Adonkie, within 24 hours of her abduction from her Federal Capital Territory residence. This swift and decisive action was detailed in a press statement released on the Nigerian Army’s official Facebook page on Thursday, September 3, 2026.

According to the statement, the rescue operation was launched after Mrs. Adonkie was kidnapped on Tuesday, September 1, 2026. Troops from the Guards Brigade and Army Headquarters Garrison, acting on credible intelligence, swiftly mobilized. Their coordinated efforts led them through the Aco Estate–Goza Community axis, where they engaged the kidnappers. The pressure exerted by the troops forced the abductors to abandon their victim and flee into the surrounding bushes.

Mrs. Adonkie was subsequently found and rescued at Angwan Sabo Village. Following the rescue, troops intensified their pursuit along the Aco Estate-Angwan Sayawa axis, deploying additional forces to block potential escape routes.

The operation continued to yield results on Wednesday, September 2, when troops intercepted two suspected members of the kidnapping syndicate near Gaube Village in the Kuje Area Council of the FCT. This follow-up operation also led to the recovery of significant weaponry, including an AK-47 rifle, one AK-47 magazine, and 19 rounds of 7.62mm Special ammunition.

The Nigerian Army has confirmed that clearance and tracking operations are ongoing across the area to apprehend other members of the kidnapping syndicate. They commend the vigilance and cooperation of residents, reiterating their commitment to protecting lives and property. The Army further assured the public of their continued collaboration with other security agencies to sustain intelligence-driven joint operations aimed at dismantling criminal networks and enhancing security throughout the FCT and its environs. This incident underscores the dedication and effectiveness of the Nigerian Army in combating criminal activities and ensuring the safety of citizens.

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