Section 130 Nigeria Tax Act 2025

Section 130 of the Nigeria Tax Act 2025 is about Sale or purchase of options. It provides as follows:

(1) The provisions of Chapter Five of this Act as to contract notes shall apply to any contract under which an option is given or taken to purchase or sell any stock or marketable security at a future time at a certain price, as it applies to the sale or purchase of any stock or marketable security.

(2) Where under the contract in subsection (1), a double option is given or taken, the contract shall be deemed to be a separate contract in respect of each option.