Standard Chartered Bank (StanChart) Nigeria has launched an investment solution on its mobile banking platform that allows investors to buy and sell bonds issued by the Federal Government, marking increased automation of the treasuries market.
Tagged the Online Fixed Income Securities (FIS), the FIS offering provides clients with the option to Invest in Federal Government Bonds or Treasury Bills on the SC Mobile App, bringing convenience, ease and simplified monitoring of their investments.
On the Standard Chartered Mobile app, clients are able to purchase Federal Government Bonds Naira denominated bonds issued and backed by the Federal Government of Nigeria, with fixed coupon rates which are paid semi-annually. Income earned is exempt from state and local taxes. Clients can also purchase Naira denominated treasury bills issued by the Federal Government of Nigeria which are short term securities that offer more flexibility and provide competitive yields to investors.
Speaking on the offering, Head of Wealth Management, Simpa Adaba said that at Standard Chartered Bank, its clients remain at the centre of everything that we do, this shows clearly on how we offer products for investments, the markets where we operate and the entire process of how we deliver value to our client. “We continue to successfully partner with our clients through their life stages and in this journey, we continue to take learnings and rethink our strategies in terms of how we offer products conveniently to our clients. As a Bank today, we are clearly focused on Digital banking from a convenience perspective which makes delivering value to our clients easier, faster, secured and a lot more efficient”.
