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In a circular to stockbroking firms on Wednesday, the Nigerian Stock Exchange (NGSE) indicated that with effect from February 1, VAT charged on commissions applicable to capital market transactions will increase from 5% to 7.5%.

Starting from Monday February 3, 2020, the first trading session after the effective date of the new VAT rate, a 7.5% VAT shall be charged on the following Fees:

  • Brokerage Commission
  • Securities and Exchange Commission (SEC)
  • Nigerian Stock Exchange (NSE)
  • Central Securities Clearing System (CSCS)


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