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The Eleventh tranche of the FGN Savings Bond has begun. Kindly find the Summary of May 2018 Offer below:
- 2-Year FGN Savings Bond due May 16, 2020: 9.48% per annum
- 3-Year FGN Savings Bond due May 16, 2021: 10.48% per annum
- Subscription for the bond opens on May 7, 2018, and closes on May 11, 2018. The settlement date for the bond is on May 16, 2018
- 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.
- Coupon Payment Date: August 16, November 16, February 16, May 16.
REDEMPTION (Payment of Principal)
- Bullet repayment on the maturity date
What you get when you invest?
Invest N100k
What you get – N9.48k per annum for 2 years, N10.48k per annum for 3 years
Other News
Invest N500k
What you get – N47,400 every year for 2 years, N52,400 every year for 3 years
Invest N1 million
What you get – N94,800 for 2 years, N104,800 per annum for 3 years
Remember interest is paid quarterly. To get how much you earn quarterly divide what you get above by 4.
Here is a copy of the notice.
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While FGN savings bond isn’t a bad idea, I feel there are better fixed income opportunities that offers positive return – Please permit me to share a link on my blog where I discussed two low-risk, high-return fixed income opportunities for people with idle cash (>200K).
read here – https://nigerianstockstobuy.com/best-investment-opportunities-nigeria-longterm/
Very illiquid. Once you buy you can hardly sell.
Fgn savings
It’s better than normal savings account with the commercial banks in Nigeria. Because the yield on the investment is okay compared to savings account interest rates offers by banks in Nigeria
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