feelamong:


You dont actually have to hold for the period..

It is expected to trade like shares on the floor of the exchange. That is why Stock brokers are being involved in this now.

Considering how much many of us fear these brokers...anyway it would be in my CSCS statements

feelamong:


You dont actually have to hold for the period..

It is expected to trade like shares on the floor of the exchange. That is why Stock brokers are being involved in this now.

Considering how much many of us fear these brokers...anyway it would be in my CSCS statements

Osahon7:
Those this mean TBILLS is no longer available to To someone with 10 million?

unite4real:


yes. even some one with 49.9 million cant also do the treasury bill

Osahon7:
but why will CBN make such decision?? Damn!

unite4real:


lol. upper class agenda

Osahon7:
the exact reason why the rich keeps getting richer and the poor getting poorer!

feelamong:


EXACTLY WHY WE ALL NEED TO GET RICH....OR DIE TRYING

feelamong:


EXACTLY WHY WE ALL NEED TO GET RICH....OR DIE TRYING

kingsilly:

Sent you a mail

Osahon7:
Yes o! #TEAMGETTINGRICH...so far it's Legit no wahala! Abeg how far this fixed deposit?? That's my only option now! Can I get an intrest rate of 15percent if I fix 11Million for one year??

feelamong:


Not sure you would with any big bank...maybe with the Micro finance banks..

feelamong:
Just got this from one of my brokers;

Dear Investor,
This is to bring to your notice 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 Known as the Federal Government of Nigeria Savings Bond (FGNSB).
1. Commencement Date
• Offer will be opened on Monday, March 13, 2017 and will run for 5 days.
2. 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 and benefit from the favourable returns available in the Capital Market
• To diversify funding sources for the government
3. Benefits
• Interest income is paid quarterly directly into the bond holders 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
4. 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 NGN5,000 with additions in multiples of NGN1,000, subject to a maximum of NGN50,000,000
• The bond is backed by the full faith and credit of the Federal Government of Nigeria.

5. 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 (visit www.dmo.gov.ng for the list of accredited stockbroking firms).

6. 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:
Ø FGN Savings Bonds – minimum subscription N5,000, maximum N50,000,000
Ø Nigerian Treasury Bills – minimum subscription N50,001,000
Ø FGN Bonds – minimum subscription N50,001,000.
Please note that the new market structure takes effect from March 6, 2017.



Kind Regards.

feelamong:
Just got this from one of my brokers;

Dear Investor,
This is to bring to your notice 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 Known as the Federal Government of Nigeria Savings Bond (FGNSB).
1. Commencement Date
• Offer will be opened on Monday, March 13, 2017 and will run for 5 days.
2. 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 and benefit from the favourable returns available in the Capital Market
• To diversify funding sources for the government
3. Benefits
• Interest income is paid quarterly directly into the bond holders 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
4. 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 NGN5,000 with additions in multiples of NGN1,000, subject to a maximum of NGN50,000,000
• The bond is backed by the full faith and credit of the Federal Government of Nigeria.

5. 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 (visit www.dmo.gov.ng for the list of accredited stockbroking firms).

6. 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:
Ø FGN Savings Bonds – minimum subscription N5,000, maximum N50,000,000
Ø Nigerian Treasury Bills – minimum subscription N50,001,000
Ø FGN Bonds – minimum subscription N50,001,000.
Please note that the new market structure takes effect from March 6, 2017.



Kind Regards.

zamirikpo:


lets not jump into conclusion so fast, from what i understand about NTB...individuals ordinarily cannot apply directly unless they have a minimum of 150m......thats y we go through the banks or financial houses , and what the banks do is to compile a list of applicants.....then apply to the CBN......on our behalf, minimum investments varied with the different banks. So now if this new policy is stating 50m minimum.....how does that affect us when ordinarily we dont apply individually or r u guys saying that the banks would require u to have 50m before u can put in an application at the bank level.

fidelity securities and other finance houses could as well collect peoples money and invest in d NTB primary market.......without any wahala just like they have always done . or r we saying that the finance houses would no longer offer such services unless we apply with 50m.

as individuals we dont subscribe directly to CBN.....and from what i read above ,minimum subscription to the CBN on NTB is 50m.

i would like answers and clarifications on my observations.

zamirikpo:


i would like answers and clarifications on my observations.

zamirikpo:


lets not jump into conclusion so fast, from what i understand about NTB...individuals ordinarily cannot apply directly unless they have a minimum of 150m......thats y we go through the banks or financial houses , and what the banks do is to compile a list of applicants.....then apply to the CBN......on our behalf, minimum investments varied with the different banks. So now if this new policy is stating 50m minimum.....how does that affect us when ordinarily we dont apply individually or r u guys saying that the banks would require u to have 50m before u can put in an application at the bank level.

fidelity securities and other finance houses could as well collect peoples money and invest in d NTB primary market.......without any wahala just like they have always done . or r we saying that the finance houses would no longer offer such services unless we apply with 50m.

as individuals we dont subscribe directly to CBN.....and from what i read above ,minimum subscription to the CBN on NTB is 50m.

i would like answers and clarifications on my observations.

bmdflo:
I went with bank rate, stanbic ibtc, I've been debited, though the guy in charge told me 17.1 for 182 days tenure, I'm yet to confirm the rate.

olujaidi:


Those rates up there are still poorer than the true yield of 182 and 364 day tenors. Plus you get your interest upfront which you can reinvest I.e. compound. With an MMF you get your interest at the end of a quarter.

The other advantage of an MMF is that you can start with as little as 5k. What one can do is to use an MMF to build up funds to a sizeable amount then withdraw to do TB. The returns are far better than FD and savings accounts.

unite4real:


You may be safe with 13.6%. Your interest will be N3,400. Happy investing

logoscope:

Pls what is MMF? I have spare cash to invest. I was thinking of doing FD, until I saw this post.