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Afrinvest in one their latest publication disclosed FGN Savings Bond auction for the month of September has commenced and will be auctioned from Monday, September 2nd – Friday, September 6th, 2019.
The 2-year FGN Savings Bond due September 11, 2021 and 3-year FGN Savings Bond due September 11, 2022 will be offered at 11.150% and 12.150% per annum respectively. Please see more details below:
TENOR: 2 Years; MATURITY: 11-Sept-21; RATE: 11.150%
TENOR: 3 Years; MATURITY: 11-Sept-22; RATE: 12.150%
What is the Savings Bond?
The bond is targeted at low income earners to encourage savings and also earn more income (interest) when compared with their savings account with banks.
Minimum subscription of N5,000.00 (additional investments in multiples of N1,000) and a maximum of N50,000,000.00.
What are the Benefits of Savings Bond?
Interest income from savings bond are tax free,
A competitive fixed interest rate to be paid every quarter,
The savings bond is considered liquid as it would be tradeable on the Nigerian Stock Exchange,
The FGN Savings Bond Certificate can be used as collateral for loan,
It offers guaranteed return, and encourages financial inclusion among low income households,
It enables individuals to enjoy those benefits which accrue to high net-worth investors in the capital market.
How do I Invest?
Afrinvest Securities Limited is one of the agents designated by the Nigerian Stock Exchange (NSE) to offer this service to their clients. To invest in savings bond through Afrinvest Securities Limited, you would be required to fill the subscription form (and submit KYC documents), also indicating the amount you want to buy.
How do I fund my account?
You can make transfers for Treasury Bills (T-Bills), Shares, FGN Savings Bond and FGN Bonds directly from your bank account using your online banking platform through NIBBS E-Bills Pay (Read FAQs). The banks currently enabled are Guaranty Trust Bank, First Bank, Stanbic IBTC, Wema Bank and Zenith Bank.
Kindly follow the steps below to start investing with E-Bills Pay:
Log into your bank’s online platform
Click on NIBSS E-Bills payment and select Afrinvest Securities from the drop-down list of billers/merchants.
Select the product you want to invest in (Treasury Bills, FGN Bonds etc)
Enter your Afrinvest Securities Account Number, the amount you want to invest and pay.
Your Afrinvest Securities account will be automatically credited for your preferred investment
NOTE: Payment should ONLY be made to Afrinvest Securities Limited Client bank accounts
Opening Date
Monday, September 2nd, 2019
Closing Date
Friday, September 6th, 2019
Settlement Date
Wednesday, September 11th, 2019
Coupon Payment Dates
December 11th, March 11th, June 11th, September 11th
To indicate your interest and for further enquiries, kindly send an email to brokerageteam@afrinvest.com or call the below contacts:
Lagos: Adedoyin – +234 809 778 3100
Bolaji – +234 812 175 9032
Vwede – +234 818 334 2612
Titilayo – +234 809 713 1458
Judith – +234 818 839 0761
Port Harcourt: Uduak – +234 809 023 4238
Abuja: Bolanle – +234 802 304 5283
Thank you for choosing Afrinvest Securities Limited.