₦airaland Forum

sharone21:
Hi. Have you tried APEL( Stockbrokers and Registrar)? It has been in the business for long.... Unless you have already tried them b4.

I've not tried them before. I'll check them out. Thanks

And our Naira appreciation trend continued
Naira currently N1,365:$1. Should continue if structural imbalances continue to be addressed.
Would be good to see N1,000:$1 and lower within 3 years

skydiver01:
Meanwhile, FGN bond prices have been going up (reducing yields) while the Naira has also been slowly appreciating

Odunharry:
What rate did you give them. I know DMO will reduce rate slightly seeing the number of subscription far way above offer. People wants to lock in on rate early this year cos we might see decline in rate as the year goes

I used the bank rate. I guess the bank bided higher and couldn't meet the cut off.

Interesting read...
This part got me thinking. Dejavu perhaps.
I remember when Buhari et.al did their majic and boasted about inflows from portfolio investors but they forgot they were going to pay back with interest in 1-2yrs time. These portfolio investors don't stick around. They're in and out, moving to the next country they'd benefit from. It's the citizens that deal with the aftermath of their visit. I wonder if the structural changes by the CBN could weather the storm when that $16 Billion (plus interest) seeks to leave


According to data cited by the National Bureau of Statistics, about $16.7 billion flowed into Nigeria in the first nine months of 2025, yet only $565 million of that was foreign direct investment, representing just 3.3 per cent.
The rest was largely portfolio investment, which is another way of saying money that packs light and travels fast.

https://nairametrics.com/2026/02/15/the-dangers-of-an-appreciating-naira/

Hello guys....I know this must have been treated here b4 but going over 2000pages is a lot. Pls can someone be kind enough to advice me on terminating my investment before maturity.

I did 100m at 15.5% in june last year and it'll mature by june this yr. But I need the money for something urgent.

How much will I get.if I terminate it this February.

zamirikpo:
Hello guys....I know this must have been treated here b4 but going over 2000pages is a lot. Pls can someone be kind enough to advice me on terminating my investment before maturity.

I did 100m at 15.5% in june last year and it'll mature by june this yr. But I need the money for something urgent.

How much will I get.if I terminate it this February.

Contact the house you used.

If it's CSCS monitored security, and you have CSCS account, you should be able to see what the value currently looks like.

zamirikpo:
Hello guys....I know this must have been treated here b4 but going over 2000pages is a lot. Pls can someone be kind enough to advice me on terminating my investment before maturity.

I did 100m at 15.5% in june last year and it'll mature by june this yr. But I need the money for something urgent.

How much will I get.if I terminate it this February.

Instead of terminating it, do the maths and see if it'll be better to take a loan to do what you want to do. It may be better as you will get good interest rate since the loan will be well secured with the tbills

NSEstudent:
Contact the house you used.

If it's CSCS monitored security, and you have CSCS account, you should be able to see what the value currently looks like.

Thank you @nsestudent. I used providus bank, I called their treasury department in lagos but the response was too vague, no concrete figures. I want to be sure of how much I'll get first b4 I proceed

Joyful365:
Instead of terminating it, do the maths and see if it'll be better to take a loan to do what you want to do. It may be better as you will get good interest rate since the loan will be well secured with the tbills

@joyful minimum I can get for a loan isc29 to 30%..... I will sha ask

zamirikpo:
@joyful minimum I can get for a loan isc29 to 30%..... I will sha ask

Assume the loan is 30% per annum, that means you'll pay only about 10% for the 4 months before your treasury bills mature. 30/12 * 4, march April may June.

The question then is, is 10% of the loan amount smaller than the interest you'll lose and penalty fees you will pay for liquidating the tbill prematurely? If yes then go for the loan, if no then abort.

To even help yourself better, if the money is to be used for business, then take the loan with the company name doing the business so you can write off the interest payment as a business expense for tax purposes.

Joyful365:
Assume the loan is 30% per annum, that means you'll pay only about 10% for the 4 months before your treasury bills mature. 30/12 * 4, march April may June.

The question then is, is 10% of the loan amount smaller than the interest you'll lose and penalty fees you will pay for liquidating the tbill prematurely? If yes then go for the loan, if no then abort.

To even help yourself better, if the money is to be used for business, then take the loan with the company name doing the business so you can write off the interest payment as a business expense for tax purposes.

Nice idea....I will make enquiries from d bank. However I still need to know wot I'll get back from treasury bills b4 I can compare

zamirikpo:
Nice idea....I will make enquiries from d bank. However I still need to know wot I'll get back from treasury bills b4 I can compare

Although I have never had to sell any of the bonds and treasury bills I have subscribed to prematurely, there needs to be clarity about it if one wishes to sell. For instance, I used to hear that they are listed on NGX. If that's the case, their prices should be published and investors should be able to see the value they'd be getting at any time, even if they are not selling.

I would like to believe that naira has appreciated since the time you bought the TB. Interest rate and inflation rate must have lowered, making the instrument more attractive.

Some may be interested

@skydiver01
How did you manage to get the rate? From my understanding the stop rate rate for 2035 was 17.52%, did you leave the rate blank or you input the rate you got yourself. I did put 20% so my bid got rejected.

I am planning to bid for the next fgn bond in few days, so your advice will be appreciated.

Thanks in advance.

skydiver01:
Re: the fee. Na so I see am oooo. Wetin I for do? Personally, I don't think it is high. It is 0.41% of the subscription investment and I am ok with it. Anyway, re: the 18.43%. The bond was originally issued at 22.6% but was trading on the secondary market at the time of the re-opening auction at c17.5% yield. So the primary re-opening auction which closed at 18.43% was still marginally more attractive than the secondary market. 18.43% was the marginal rate that cleared the auction amount offered. It is not a 'new issue' auction but a re-opening auction of an existing bond whose rate was already set when originally issued and is trading on the secondary market.
Hope the explanation helps

Boss i greet you. Abeg just to ask. Are you with ren money, asked this from one or two of your posts. I noticed the rate for Flex has dropped on the app. Can one get concession cos i am thinking of moving out my funds.

Odunharry:
What rate did you give them. I know DMO will reduce rate slightly seeing the number of subscription far way above offer. People wants to lock in on rate early this year cos we might see decline in rate as the year goes

The FGN Jan 2035 Bond Auction closed at 17.52% inclusive of accrued interest to 28 January 2026 which was due to be paid back on 29 January 2026 (although mine dropped on 2 February). When you net off the accrued interest it comes to 18.43%.

"INTEREST RATE: For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument."

I put a bid of 17% on my bid form in January and it was successful. N.B: All successful bids get the same rate that clears the auction.
Given that rates have since trended down a bit, to increase the chances of your February auction being successful, it might be a good idea to put 16% or 16.5% on your bid form since all successful bids get the same rate.

Hope the above helps

digitalinvestor:
@skydiver01
How did you manage to get the rate? From my understanding the stop rate rate for 2035 was 17.52%, did you leave the rate blank or you input the rate you got yourself. I did put 20% so my bid got rejected.

I am planning to bid for the next fgn bond in few days, so your advice will be appreciated.

Thanks in advance.

Thanks for the explanation, it helps a great deal...

Will find out what the 2033 is currently trading at on secondary market, that would serve as my guide bcus DMO tend to go with the secondary market especially given level of liquidity in the market.

skydiver01:
The FGN Jan 2035 Bond Auction closed at 17.52% inclusive of accrued interest to 28 January 2026 which was due to be paid back on 29 January 2026 (although mine dropped on 2 February). When you net off the accrued interest it comes to 18.43%.


I put a bid of 17% on my bid form in January and it was successful. N.B: All successful bids get the same rate that clears the auction.
Given that rates have since trended down a bit, to increase the chances of your February auction being successful, it might be a good idea to put 16% or 16.5% on your bid form since all successful bids get the same rate.

Hope the above helps

....

Stockhunter:
Boss i greet you. Abeg just to ask. Are you with ren money, asked this from one or two of your posts. I noticed the rate for Flex has dropped on the app. Can one get concession cos i am thinking of moving out my funds.

Good morning boss
Yes I am with Renmoney, it dropped to 15% from 17%
For the concession we can talk, I will DM you.
I

zamirikpo:
Hello guys....I know this must have been treated here b4 but going over 2000pages is a lot. Pls can someone be kind enough to advice me on terminating my investment before maturity.

I did 100m at 15.5% in june last year and it'll mature by june this yr. But I need the money for something urgent.

How much will I get.if I terminate it this February.

15.5 not too high. Take a loan against the asset(Investment). The rate will be higher than 15% though.
You will be sent the offer stating the terms of the loan, please read carefully before signing.

enque:
....

Well done

skydiver01:
Some may be interested

Thank you for posting.

I also need come take classes on Bond to sharpen knowledge

jedisco:
Interesting read...
This part got me thinking. Dejavu perhaps.
I remember when Buhari et.al did their majic and boasted about inflows from portfolio investors but they forgot they were going to pay back with interest in 1-2yrs time. These portfolio investors don't stick around. They're in and out, moving to the next country they'd benefit from. It's the citizens that deal with the aftermath of their visit. I wonder if the structural changes by the CBN could weather the storm when that $16 Billion (plus interest) seeks to leave


According to data cited by the National Bureau of Statistics, about $16.7 billion flowed into Nigeria in the first nine months of 2025, yet only $565 million of that was foreign direct investment, representing just 3.3 per cent.
The rest was largely portfolio investment, which is another way of saying money that packs light and travels fast.

https://nairametrics.com/2026/02/15/the-dangers-of-an-appreciating-naira/

The inflows is not only FGN loans ,it Majorly investment in NGX , Money Markets and FDI
with the liberalizing of the exchange rate they can buy USD from parallel Markets at point of exit .
Unless like Buhari Magic they needed CBN intervention to exit
They have weighed their Risk VS Reward

zamirikpo:
Hello guys....I know this must have been treated here b4 but going over 2000pages is a lot. Pls can someone be kind enough to advice me on terminating my investment before maturity.

I did 100m at 15.5% in june last year and it'll mature by june this yr. But I need the money for something urgent.

How much will I get.if I terminate it this February.

You are not going to a direct answer exactly the way you want it. Nobody can tell you the amount you are going to get except you contact the bank and they give you a particular rate they are ready to buy it.

Reasons are:
1. You subscribed at the rate of 15.5% which is fixed and the only one we know. In terminating, it's only the bank that knows the rate they are willing to offer you for the remaining 4 months as they may also want to auction at the secondary market for other interested bidders.

2.If you didn't request for them to invest the principal with interest and that interest have not yet been taxed, if you would have already collected the interest. Now, depending on the rate it is sold, 10 WHT is likely to be also be deducted.

3. Rates at the he secondary market where it could be resolved are not usually fixed. It fluctuates.Meaning it could be a certain rate this morning and changes to a higher or lower rate in the afternoon or tomorrow morning depending on market exigencies.

The bottom line of this is that you should contact the bank because it's only with them that you can get the right response.

Dont have access to the mail used. Is there another way.

Odunharry:
Good morning boss
Yes I am with Renmoney, it dropped to 15% from 17%
For the concession we can talk, I will DM you.
I

Stockhunter:
Dont have access to the mail used. Is there another way.

OK we can talk on WhatsApp.

Loco right?

No not at all. Different person.

Will this concession still be on the app?

Odunharry:
OK we can talk on WhatsApp.

Loco right?

Stockhunter:
No not at all. Different person.

Will this concession still be on the app?

No it will not.

You can do a short tenured investment and get something higher than what's on Renflex.

If you are Loco, Gracias for calling Ellah lakes mid last year

Hi everyone. It’s been one week since the settlement date for FGN Savings Bond for February 2026 and my allotment is yet to show up in both my brokerage account and my CSCS account. Customer Support says they’re investigating. Has anyone experienced this delay before? I feel this is taking too long and I am not getting any useful update from the support team.

The 10percent tax is killing me : do anybody know a better option aside from tb. Legit government one

We had a long standing topic here.

To those my brothers that believed so much in holding dollars, I hope you are not injured?

I still have faith in Nigeria, sell off so dollar will crash further.

Thanks.

Let's build the naira together.

drealj:
The 10percent tax is killing me : do anybody know a better option aside from tb. Legit government one

Go for bond or saving bond. No tax but longer than 1 year