₦airaland Forum

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.

So, what is the rate of the savings bond

jessyb:
if you are interested on a fixed deposit plan that has high interest yield of up to 8%, whatsapp 07084910289

Which financial institution is this please?

Fidelity just debited for 364 days

Good Morning house. Please has anybody been debited for Tbills from Fidelity Bank Plc in respect of 15th February, 2017 auction?

9galen217:
Has anyone been debited by Fidelity?. My bid sailed thru, but no alert yet. i am constantly checking every message that comes thru on the phone.

Hello house! Please has anybody been debited from Fidelity Bank for 364 days? I did 18.38% for 364 days while stop rate for same tenor was 18.4495%. Any idea please?

Mikymiko:
My account was debited for T-bills on 13th February but I've not got any upfront interest. Please advice me.

Which bank?

munezo:
Will 18.45 go through?

. Possible if the treasury guys in your bank are good. I have done 14 for 91 days in november , 2016 and the stop rate was 13.999. I got the 14

feelamong:
Dear Feelamong find below the stop rates for the last Auction February 15 2017

91 days -----13.69%

182 days ----17.15%

364 days -----18.4495%

Thank you. I cautiously did 18.38 for 364 days.

[quote author=feelamong post=53551498]would rather wait till close of business on Monday to see what the secondary markets are up to first and also see if there will be any more OMO or not.[color=#006600][/color]Ok thank you. I expect to hear from you. And please is it still safe to drop the bid at my bank by Tuesday 14th @ 10.am?

feelamong:
Its always better to build a diversified Asset.

Invest in Property, Tbills, Shares, Bonds and even in Bitcoins/Dollars (to diversify from Naira Assets)

If you keep all this in mind, you will understand why all of them serve their own different purposes.

last week, i ran into a very good short term business that had a good one time pay off...I ran to my bankers for loan, can you believe they refused to accept my small house for the loan. But when i said i have Treasury bills, i was given the loan within 2 days.

In all, just plan to have all of it...then you can reallocate from one class to another based on the prevailing economic conditions/environment

Good Morning Feelamong. Please what is your suggested rate for 364 days?

Team16:
Please any ideas on the next rate for 364 days . Thanks. @feelamong.

@feelamong.Please any suggested rate for 364 days?

vazsily:
How possible is such interest for only 182 tenure?

I was going to ask the same question

Winneygirl:
.
The next auction date is 15th February, 2017

Gracias

Winneygirl:
CBN stop rates.
.
91days-13.7990%
.
182days-17.2491%
.
364days-18.5400%

@Winneygirl, when is the next Auction date please?

feelamong:
Dear Feelamong

Please find below the Stop rates for the last Auction February 1 2017

91 days -----13.79%

182 days ----17.249%

364 days -----18.54%

Thank you. Please when is the next bidding date?

aumoria:
I am new here. Please guild me. I placed a request with gtb for today's bid at their rate. I also sent the acct officer mandate to part liquidate my fixed deposit to fund the purchase. Will there be time frame to provide fund to service purchase after the result of the bid. I am asking because the fd has not been liquidated.

They will liquidate if your bid was successful. This should be done tomorrow.[color=#000099][/color]

bablowizad:
Ngn treasury bill result
Stop rates: 91-day 14% , 182-day 17.5% , 364-day 18.68%

14/12/16

Thank you

ok

Dreamflyin:
Today is another bid day. Let's see.

What caused this silence pls? mmm?

@ Abey1987 did you say 81 days?

Now, we are up

@ zamirikpo. I feeling ya

I have said it before that this forum is wayyyyy too quiet! Please what are the stop rates for today?

The forum is unusually quiet!

@ Epphy, it depends on your level of apertite for toxic risk

@ It depends on the level of risk you are ready to take with your hard earned money.

Well, I just collected my NTB letter now @ 14% for 91 days

No sir. But it should be there before debit day which is usually the next day after close of bidding session.

ihedioramma:
YES SIR .

Nice one! He is just reinvestinghis upfront interest.

zamirikpo:
@chukyzfcb, I don't understand y u would want to bid higher than the amount u have, how does it benefit u ? Rates r not determined by how much u r bidding with.

Am just wondering if am missing something here....

ok

29th November, 2016

Ok