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Introducing FGN Savings Bond Offer For August 2017 - Business - Nairaland

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Introducing FGN Savings Bond Offer For August 2017 by Nobody: 9:17am On Aug 08, 2017
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.


Kindly note that the FGN Savings Bond for August 2017 kicks off today.
Details are as follows;
ISSUANCE
MATURITY
2 Year FGN Savings Bond
August 16, 2019 : Coupon 13.535% per annum
3 Year FGN Savings Bond
August 16, 2020: Coupon 14.535% per annum
Opening Date
Monday, August 7, 2017
Closing Date
Friday, August 11, 2017
Settlement Date
Wednesday, August 16, 2017 (this is the date the bonds will be credited into your CSCS Account domiciled with your broker)
Units of Sale
N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Interest Payment
Quarterly (Coupon rate divided by 4)
Redemption
Bullet payment on the maturity date
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 favorable returns available in the capital market.
To diversify funding sources for the Government.
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.
Liquidity

The Bond will be listed on the Nigeria Stock Exchange for trading and provides liquidity for investors who want to exit before maturity.

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).
GTI Securities is one of the authorized Distribution Agents of the Federal Government Savings Bond.
How to Invest
Please download and complete the FGN Savings Bond Subscription form by clicking here
Duly completed subscription form should be submitted at our office or scan and email to headoffice@gti.com.ng and make payment into our accounts stated below.
Skye Bank
Account Number: 4010004109
Account Name: GTI Securities Ltd
Sort Code: 076152319
Sterling Bank
Account Number: 0009883355
Sort Code: 232150207
Account Name: GTI Securities Ltd
On settlement date, CSCS will credit investor’s account with volume of bonds purchased.

Click here for Frequently Ask Questions on FG Savings Bond.


https://brandspurng.com/introducing-fgn-savings-bond-offer-for-august-2017/

Re: Introducing FGN Savings Bond Offer For August 2017 by Fxmanager(m): 9:20am On Aug 08, 2017
Check my profile signature for better returns.
Re: Introducing FGN Savings Bond Offer For August 2017 by Nobody: 6:52am On Aug 09, 2017
investors oya oo
Re: Introducing FGN Savings Bond Offer For August 2017 by rodeo0070(m): 9:03am On Aug 09, 2017
Cool way to invest

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