Principal and returns on the Bond are guaranteed by the Federal Government of Nigeria and the risk of default is zero.
The Bond would be issued monthly and the instrument will have a tenor of two and three years respectively.
Coupon payment would be paid quarterly into investors’ specified bank account while principal would be paid on maturity date.
Yes, you can invest in each month’s issuance up to the maximum limit of N50,000,000.00.
The Coupon/interest rate is per annum and the rate would be announced by the Debt Management Office (DMO) on the first day of the offer period.
CardinalStone Securities Ltd has been appointed as one of the Distribution Agents for the FGNSBs. Our role is to inform the general public about the Savings Bond, collate subscription forms of interested investors and forward these forms and monies to the DMO.
The Savings Bond was created to financially include all types of investors ranging from salary earners, artisans, students, civil servants, etc. in the development of the Nigerian economy.
Yes, you can invest on behalf of your children, wards, or relatives however, the BVN and bank account details stated on the subscription form must belong to the beneficiary.
You will be required to:
- Complete the FGNSBs subscription form
- Complete CardinalStone account opening form
- Provide valid proof of Identification
- Provide one passport photograph
- Provide a recent utility bill
Kindly scan and send the documents listed above to firstname.lastname@example.org
Yes, you would be required to have a bank account and also indicate your Bank Verification Number (BVN) on the subscription form to invest in the FGN Savings Bond.
No, Bondholders will have their investments credited to their CSCS accounts.
Your investment will settle into your CSCS account three(3) days after your transaction date.
Yes, you can sell your bond holdings in the Secondary Market which is the Nigerian Stock Exchange.
Kindly fund your account with us for purchase transactions while proceeds for sale transactions would be credited to your bank account on day T + 2.
No, you will not lose money if you hold the instrument till maturity. However, there may be a reduction or increase in the value of the bond if you sell in the secondary market before maturity depending on prevailing interest rates in the market.
There are no transaction costs for buying the FGN Savings bond in the primary market (i.e. during the offer for subscription). However, transaction charges would apply if you buy or sell in the Secondary Market.
The transaction charges applicable are brokerage fee of 0.5% of the face value of the bond traded and 0.0001% CSCS fee.
Kindly send your trade instructions and enquiries to email@example.com to enable us execute your mandate.
Yes, you can view your account and also trade your Savings Bond via our online platform. Your online login details would be sent to you as soon as your account is opened.
The price of the FGN Savings Bond will be published daily in major newspapers and on the website of CardinalStone and the Nigerian Stock Exchange. CardinalStone also sends out daily price list via email which will include the price of the Savings Bond.