Savjane World Trade Ventures, an Uyo-based company specialising in Eurobonds and other highly rated financial instruments including Medium Term Notes (MTN), Bank Guarantees (BG), Standby Letters of Credit (SBLC), says it has secured a partnership deal with banks to fast-track investment financing of key projects in the country.
The firm said the partnership deal would guarantee investment financing in oil and gas, real estate, hotel development, manufacturing as well as the pharmaceutical industry and several other sectors.
Saviour Inyang, managing director of the company, said in Uyo, the Akwa Ibom State capital, that in addition to securing partnership deals with banks in the country, his firm had also appointed a stockbroking firm for the management of its investments.
“Currently, we have opened accounts and established a custodian business relationship with a bank and negotiations are still ongoing with other Central Bank of Nigeria (CBN) approved banks towards opening the necessary accounts. We have also appointed a firm as dealer/broker in the management of our investments,’’ he said.
According to him, once investments from the foreign banks are secured, the same would be transferred to the Nigerian bank for custody, as the company would now trade on or deal with those instruments by the terms agreed with its clients.
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Inyang said the company had affiliates/business associates abroad who purchase the investments either from the primary or secondary markets on its behalf before the investments were sent to the company through its custodian bank accounts in Nigeria.
Under the scheme, he said custodian banks would provide safekeeping and administrative services of financial assets for its clients and also deal with those financial assets according to the instructions from its client, maintaining that “custodian clients, in this case, could be individuals, firms or corporate organisations who can invest in those fixed income securities.”
He said the investment could also serve as a credit enhancement facility, boost net worth requirements and serve as a blocked fund or collateral.
ANIEFIOK UDONQUAK
