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Home Companies Company News

I-Invest generates over N2 billion transaction in less than 6 months

NM Partners by NM Partners
February 18, 2019
in Company News, Corporate Updates, Spotlight
I-Invest, Treasury Bills - South Africa Pension scandal: How not to manage a Pension Fund
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Figures from the National Bureau of Statistics (NBS) show that 50% or $8.4 billion of the foreign capital imported into Nigeria last year, went to money market securities. The most liquid form of money market securities are treasury bills which are sold by the CBN every two weeks.

The key buyers of these instruments were foreign investors. Why? Yields on money market securities are at double digits, much higher than in their home countries.

Treasury bills are also backed by the full faith of the Federal Government of Nigeria, thus making the risk of default quite low.

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At the last CBN treasury bills auction, 364-day treasury bills went for 14.9%. Recent inflation figures went for 11.37%. For investors that were able to get in, they would have returns better than inflation. Naturally, they were massively oversubscribed.

So, you have the best of both worlds: You beat inflation with minimised risk.

Despite this, a large number of investors are seemingly locked out from this market. A minimum of N50 million is required to participate at the Primary Market Auction (PMA).

In order to meet demand, banks and other big players in the financial space, resell from their holdings or bundle up small bids. Here again, is another stumbling block, as some banks require as high as N1 million and N500,000 as the minimum amount customers can subscribe.

Prospective investors have to write ahead, sometimes a week ahead. If their bids come at lower cut off rates, they then have to wait for another two weeks. As with anything Nigerian, you sometimes have to go to the bank, to make sure you are attended to. That’s more inconvenience.

Sterling Bank and Parthian partners have come up with an app called I-Invest to solve this problem. You don’t have to write countless letters to your banker, or pay several visits either. Everything can be done from the comfort of your phone.

The best thing about the app, is that you get to see and pick the rates yourself, and it’s easy to use. It also doesn’t cost an arm or a leg. You need a minimum of just N100,000 to buy treasury bills. So far, I-Invest has generated over N2 billion transactions in less than 6 months.

The app also has some new products in the works. The whole idea is to promote a savings culture in Nigeria and across Africa. The new products will expand the product base of the platform and ultimately help diversify the portfolio of our clients. So watch out!
To download the I-invest app, click here.


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Tags: Fixed IncomeI-investOn the Moneytreasury bills
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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Comments 4

  1. Emmanuel Edigbo says:
    February 18, 2019 at 11:16 am

    Can you get to lose….investing in this i-invest

    Reply
    • Alfred Akuki says:
      February 18, 2019 at 11:27 am

      Emmanuel I-Invest deals on Fixed income and as such your capital is safe.

      Reply
  2. Linda says:
    October 15, 2019 at 6:47 am

    Who has used the I-invest and cashed out successfully.

    I have not been able to upload my kyc.
    Sent a mail. I got no response yet.

    Reply
  3. Gbenga says:
    October 24, 2019 at 9:02 am

    Thanks for the information but can the longest give quarterly income or is the interest paid off front

    Reply

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