The FGN Savings Bond auction for October 2018 has commenced and will be auctioned from Tuesday, October 2nd – Friday, October 5th, 2018.
The 2-year FGN Savings Bond due October 10, 2020 and 3-year FGN Savings Bond due October 10, 2021 will be offered at 11.175% and 12.175% per annum respectively.
|Opening Date||Monday, October 2nd 2018|
|Closing Date||Friday, October 5th, 2018|
|Settlement Date||Wednesday, October 10th, 2018|
|Coupon Payment Dates||January 10, April 10. July 10, October 10|
What is the Savings Bond?
The bond is targeted at low income earners to encourage savings and also earn more income (interest) when compared with their savings account with banks.
- 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 is one of the agents designated by 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.
To indicate your interest interest, kindly send an email to firstname.lastname@example.org
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