The Nigerian Exchange (NGX) recorded its biggest monthly loss in history in November, as investors wiped off ₦6.5 trillion from the market amid anxiety over the incoming 30% Capital Gains Tax (CGT) set to begin January 1, 2026.

Market capitalization fell from ₦97.83 trillion in October to ₦91.29 trillion in November, while the All-Share Index dropped by 10,605.93 points to 143,520.53.

The losses were driven by widespread sell-offs as investors rushed to take profit before the new tax regime. A major plunge occurred on November 11, when the market crashed 5.01% in a single day, wiping out ₦4.6 trillion.

Analysts warn the bearish trend could continue into December unless authorities provide clearer guidance on how the CGT will be implemented. Visit www.jocomms.com for more news.