Investing

Yes — foreigners can open a CSCS (Central Securities Clearing System) account through any licensed Nigerian stockbroker (Stanbic IBTC, Cardinalstone, Meristem, ARM Securities, Chapel Hill Denham). You'll need BVN, NIN, passport, and a Nigerian bank account. Alternatively, access NGX exposure via international platforms like Interactive Brokers or invest in Nigeria-focused ETFs (e.g., the Global X MSCI Nigeria ETF, NGE) on US exchanges. The 2026 reform raised the stock-sale tax exemption to ₦150M proceeds per year (gains ≤ ₦10M), making retail equity investing more attractive.

The flat 10% CGT regime was abolished by the Nigeria Tax Act 2025 (effective January 1, 2026). Individuals now pay progressive PIT rates: 0% on total annual income up to ₦800K, then 15% / 18% / 21% / 23% / 25% on higher bands. Companies pay a flat 30% (harmonized with corporate income tax — a major increase from 10%). Listed shares are exempt up to ₦150M proceeds / ₦10M gains per 12-month period. PFAs and REITs are fully exempt. Crypto gains are taxed at the same progressive PIT rates.

Yes, but only on leasehold terms. Under the Land Use Act 1978, all land in Nigeria is held in trust by state governors — no one (Nigerian or foreign) holds true freehold. Property is acquired via a 99-year Certificate of Occupancy (C of O) or Governor's Consent for transfers. Foreigners can hold leasehold directly or via a locally incorporated company. Critical: engage a SAN or experienced real estate lawyer for title search at the state Lands Registry, verify governor's consent, and confirm building approval. Off-plan purchases from less-established developers carry high delivery risk.

Interactive Brokers is the most widely used international platform — it accepts Nigeria-resident clients and provides access to 150+ global markets. Saxo Bank is another strong option. US-based platforms (Charles Schwab, Fidelity, Vanguard) often restrict or close accounts with a Nigerian address due to FATCA/compliance — verify before relocating. For NGX trading, use Nigerian brokers (Stanbic IBTC, Cardinalstone, ARM, Meristem) which support direct CSCS account opening with BVN + NIN.

Nigeria offers high nominal yields (NGX equities, FGN bonds 18–20%, property 5–8% gross) but currency risk is substantial — the Naira lost ~70% of USD value since the 2023 float. Best for expats earning in NGN who want local investments, or USD-earners willing to take FX risk for high upside. Real estate in Lagos prime zones (VI, Ikoyi, Lekki) remains the most popular expat play. The 2026 Tax Reform Act made retail equity investing more efficient (₦150M exemption) but raised CGT for high earners and brought crypto fully into the tax net. Plan your structure (individual vs. company) with a Big-4 tax advisor before deploying significant capital.