Question 1

How does CheckInvestNg calculate investment returns?

Accepted Answer

CheckInvestNg uses standard financial mathematics — simple interest, compound interest, discount pricing, and the Fisher equation — depending on the instrument. For NTBs we apply the discount yield formula used by the CBN. For FGN Savings Bonds we calculate quarterly coupon cash flows. For Money Market Funds we compound daily. Results are indicative.

Question 2

Is CheckInvestNg free to use?

Accepted Answer

Yes — all six calculators and all five premium tools are completely free. There are no sign-ups, no paywalls, and no hidden charges.

Question 3

What is the minimum amount to invest in FGN Savings Bonds?

Accepted Answer

The minimum investment for FGN Savings Bonds is ₦5,000, with subsequent units in multiples of ₦1,000. There is no upper limit.

Question 4

Are Nigerian Treasury Bills (NTBs) safe?

Accepted Answer

Yes. NTBs are sovereign instruments issued by the Federal Government through the CBN. They carry zero credit risk and have never defaulted.

Question 5

How often does the FGN Savings Bond pay interest?

Accepted Answer

FGN Savings Bonds pay interest quarterly on the 10th of March, June, September, and December. They are also tax-exempt under the Personal Income Tax Act.

Question 6

What is the difference between NTBs and FGN Savings Bonds?

Accepted Answer

NTBs are short-term (91–364 days), discount instruments with a high minimum; FGN Savings Bonds are longer-term (2–3 years), coupon-paying, and start at just ₦5,000.

Question 7

What is a Money Market Fund in Nigeria?

Accepted Answer

A Money Market Fund is a low-risk, SEC-regulated pooled fund investing in NTBs, commercial papers, and bank placements. It offers daily liquidity and competitive yields.

Question 8

What is the difference between a Money Market Fund and a Fixed Deposit?

Accepted Answer

Fixed Deposits lock funds for a fixed period at a guaranteed rate. MMFs are liquid — you can withdraw within T+1 or T+2 with no penalty. Both are subject to 10% WHT.

Question 9

What is Withholding Tax (WHT) on investment income in Nigeria?

Accepted Answer

WHT is a 10% tax deducted at source from interest income on fixed deposits and money market funds. FGN Bonds and NTBs are fully tax-exempt.

Question 10

Which Nigerian investments are tax-exempt?

Accepted Answer

FGN Savings Bonds and Nigerian Treasury Bills (NTBs) are both tax-exempt under PITA and CITA — no WHT is deducted from their returns.

Question 11

What is a Dollar Fund in Nigeria?

Accepted Answer

A Dollar Fund is a USD-denominated investment product that earns returns in USD, protecting against naira depreciation. Popular providers include Risevest, PiggyVest Dollar, and ARM Dollar Fund.

Question 12

Can Nigerians in the diaspora invest in FGN instruments?

Accepted Answer

Yes. Diaspora Nigerians can invest through banks offering diaspora services (GTBank, Zenith, UBA, Access Bank). Most processes can now be completed online with a BVN.

Question 13

What is the minimum amount to start investing in Nigeria?

Accepted Answer

You can start with as little as ₦1,000 on some fintech platforms. FGN Savings Bonds start at ₦5,000. Fixed deposits at commercial banks typically start from ₦100,000.

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