FGN Savings Bond auction for August has commenced

The FGN Savings Bond auction for August has commenced and will be auctioned from Monday, August 6th – Friday, August 10th, 2018.

The 2-year FGN Savings Bond due August 15, 2020 and 3-year FGN Savings Bond due August 15, 2021 will be offered at 10.668% and 11.668% per annum respectively.

What is the Savings Bond?
The bond is targeted at low income earners to encourage savings and also earn more income (interest) when compared to their savings account with banks. In order to create incentive for retail subscribers’ to participate in the new market segment, the DMO tweaked the market structure for FGN Savings Bonds to be as follows:

• Minimum subscription of N5,000.00 (additional investments in multiples of N1,000) and a maximum of N50,000,000.00.

What are the Benefits of Savings Bond?

• Interest income from savings bond are tax free,
• A competitive fixed interest rate to be paid every quarter,
• The savings bond is considered liquid as it would be tradeable on the Nigerian Stock Exchange,
• The FGN Savings Bond Certificate can be used as collateral for loan,
• It offers guaranteed return, and encourages financial inclusion among low income households,
• It enables individuals to enjoy those benefits which accrue to high net-worth investors in the capital market.

How do I Invest?
Afrinvest Securities Limited has been appointed as one of the agents designated through the Nigerian Stock Exchange (NSE) to offer this service to their clients. To invest in savings bond through Afrinvest Securities Limited, you would be required to fill the subscription form (and submit KYC documents), also indicating the amount you want to buy.

For further clarification, kindly contact:  Send an email to [email protected]