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Nairaland Forum / Nairaland / General / Investment / Fgn Savings Bond (3064 Views)
FG's Savings Bond September Offer Closes 7th September / FGN Savings Bond / Federal Government To Sell N5,000 Savings Bond To Public (2) (3) (4)
Fgn Savings Bond by ernie4life(m): 9:16am On Mar 02, 2017 |
Lets talk about FGN saving bonds, its advantages and short comings while also comparing it with other financial products in the market. |
Re: Fgn Savings Bond by ernie4life(m): 9:17am On Mar 02, 2017 |
Introduction Of FGN SAVINGS Bond This is to bring to the notice of the public that the Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), wishes to introduce a retail savings product that will be accessible to all income groups - the FGN Savings Bond. A. Commencement Date Offer will be opened on Monday, March 13, 2017 and will run for 5 days. B. Purpose To deepen the national savings culture. To provide opportunity to all citizens irrespective of income level to contribute to National Development. To enable all citizens participate in and benefit from the favourable returns available in the capital market. To diversify funding sources for the Government. C. Benefits Interest income is paid quarterly directly into bond holder’s account. The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity. Good for savings towards retirement, marriage, school fees, house projects, etc. Safety: backed by the full faith and credit of the Federal Government of Nigeria. D. Features The product will be issued monthly in tenors of 2 and 3 years, with quarterly payment of interest to investors. The product will be offered to the investing public through Offer for Subscription at an interest rate to be announced by the DMO. The Offer for subscription will be open for 5 days from the date of announcement. Minimum subscription amount is N5,000.00 with additions in multiples of N1,000.00, subject to a maximum of N50,000,000.00. The Bond is backed by the full faith and credit of the Federal Government of Nigeria. E. Subscription Mode Investors are to subscribe through stockbroking firms trading on the floor of The Nigerian Stock Exchange (NSE) and accredited by the DMO to act as Distribution Agents. (Please visit www.dmo.gov.ng for the list of accredited Stockbroking Firms). F. New Market Structure In view of this addition to the FGN securities market, the new market structure for the FGN securities market will be as follows: FGN Saving Bonds - minimum subscription N5,000.00, maximum N50,000,000.00. Nigerian Treasury Bills - minimum subscription N50,001,000.00. FGN Bonds - minimum subscription N50,001,000.00. Please note that the new market structure takes effect from March 6, 2017. https://www.dmo.gov.ng/fgn-bonds/savings-bond/1949-public-notice-on-the-fgn-savings-bond/file |
Re: Fgn Savings Bond by princeuk21(m): 3:09pm On Mar 02, 2017 |
Minimum amount 5k? Can it be gotten from banks? |
Re: Fgn Savings Bond by ernie4life(m): 3:38pm On Mar 02, 2017 |
princeuk21: No, am waiting for the second list of approved stock brokers for this bond to be released before I post is here 1 Like |
Re: Fgn Savings Bond by ernie4life(m): 8:36am On Mar 06, 2017 |
List of accredited stockbroking firms that will market and trade the FGN savings bond 1 Afrinvest Securities Limited. 2 Anchoria Investment & Securities Limited 3 Apel Asset Management Limited. Limited. 4 APT Securities & Funds Limited. 5 ARM Securities Limited. 6 Arthur Steven Asset Management Ltd & Investment Limited. 7 Associated Asset Managers Limited. 8 Bestworth Assets & Trust Ltd 9 Calyx Securities limited. 10 Capital Assets Limited. 11 Capital Bancorp PLC. 12 Capital Express Securities Ltd. 13 Cardinal Stone Securities Limited. 14 Cashcraft Securities Limited 15 Cashville Investments & Securities Limited. 16 Century Securities Limited. 17 Chapel Hill Denham Securities Limited. 18 Chartwell Securities Limited. 19 Cordros Securities Limited. 20 Coronation Securities Limited. 21 Core Trust & Investment Ltd. 22 Cowry Securities Limited 23 Crown Capital Limited.. 24 CSL Stockbrokers Limited 25 Dunbell Securities Limited. 26 Dunn Loren Merrifield Securities Limited 27 Dynamic Portfolio. 28 EDC Securities Limited 29 Edgefield Capital Management Ltd 30 EFCP Limited. 31 El-Elyon Alliance & Securities Limited. 32 Elixir Securities Limited. 33 Equity Capital Solutions Limited. 34 FBC Trust & Securities Ltd. 35 FBN Securities Limited. 36 FCSL Asset Management 37 Fidelity Securities Limited 38 Financial Trust Company Nigeria 39 Finmal Finance Services Limited 40 First Integrated Capital Management Ltd 41 Foresight Securities 42 Fortress Capital Limited 43 FSDH Securities Ltd. 44 Futureview Securities Limited. 45 Greenwich Securities Limited 46 Growth and Development Asset Management Limited 47 GTI Securities Limited. 48 Harmony Securities Limited. 49 Hedge Securities & Investment Company Limited. 50 Helix Securities Limited. 51 ICMG Securities Limited 52 ICON Stockbrokers. 53 Imperial Asset Managers Limited. 54 Interstate Securities Ltd 55 Kapital Care Trust & Securities Ltd. 56 Kedari Capital Limited 57 Kinley Securities Limited 58 Kofana Securities & Investment Ltd 59 Lead Securities & Investment Limited 60 Longterm Global Capital Limited. 61 Magnartis Finance & Investment Ltd. 62 MBC Securities Limited 63 Mega Equities Limited. 64 Meristem Stockbrokers Limited. 65 Molten Trust Limited 66 Network Capital Limited. 67 Newdevco Investment & Securities Limited 68 Nigerian Stockbrokers Limited. 69 Nigerian International Securities Limited 70 PAC Securities 71 Planet Capital Limited 72 Primera Africa Securities Limited 73 Primewealth Capital Ltd. 74 Pyramid Securities Limited. 75 Qualinvest Capital Limited. 76 Readings Investments Ltd. 77 Regency Assets Management Limited. 78 Reward Investments & Services Ltd. 79 Securities Africa Financial Limited. 80 SFC Securities Limited. 81 Sigma Securities Limited. 82 Signet Investment & Securities Ltd. 83 SMADAC Securities Limited 84 Solid-Rock Securities & Investment PLC. 85 Springboard Trust & Investment Limited 86 Stanbic IBTC Stockbrokers. 87 TFS Securities & Investment Company 88 Tiddo Securities Limited. 89 Trade Link Securities Limited. 90 Trust Yields Securities Limited. 91 Trusthouse Investments Limited. 92 Tyndale Securities Limited. 93 Union Capital Markets Limited. 94 United Capital Securities Limited 95 Valueline Securities & Investments Ltd. 96 Vetiva Securities Limited. 97 Woodland Capital Markets Plc. 98 WSTC Financial Services Limited. |
Re: Fgn Savings Bond by princeuk21(m): 9:06pm On Mar 11, 2017 |
ernie4life:ok |
Re: Fgn Savings Bond by Paramount01(m): 6:57am On Mar 12, 2017 |
Are these stock brokers all over the country |
Re: Fgn Savings Bond by Ojix85: 8:32am On Mar 13, 2017 |
Got this from ARM over the weekend. Let's see how true / correct ARM is
|
Re: Fgn Savings Bond by eanestca(m): 9:13am On Mar 13, 2017 |
Paramount01: I think they should, try their websites |
Re: Fgn Savings Bond by ozome15(m): 10:23am On Mar 13, 2017 |
Please I need cleared about something, if buy 5k own and now litter want to add more money is possible |
Re: Fgn Savings Bond by ernie4life(m): 10:58am On Mar 13, 2017 |
ozome15:Yes you can add in multiples of 1000. |
Re: Fgn Savings Bond by ernie4life(m): 11:01am On Mar 13, 2017 |
Hello all, the coupon rate is out. It's 13.01% for 2years. If you ask me it's not fantastic considering I can much from Tbills and mutual funds but then am not surprised because the main motive behind this savings bond is to raise cheap funds. 1 Like |
Re: Fgn Savings Bond by billahfia: 8:18pm On Mar 24, 2017 |
Remember you don't pay taxes on bonds. Compare with treasury bills after deducting tax |
Re: Fgn Savings Bond by ernie4life(m): 10:49pm On Mar 24, 2017 |
billahfia: Treasury bills don't deduct tax either |
Re: Fgn Savings Bond by 0955eb027(m): 3:13am On Mar 25, 2017 |
Treasury bills aint for us anymore o. Its now targeted at those with huge funds. The reason savings bond is introduced. |
Re: Fgn Savings Bond by mercifull(f): 3:43pm On Jun 06, 2017 |
ernie4life:what of Morgan capital?I opened account with them some time ago |
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