RT Briscoe to raise N10b from savings, investment scheme

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RT Briscoe Nigeria Plc has secured the approval of the Securities and Exchange Commission (SEC) to raise N10 billion

RT Briscoe Nigeria Plc has secured the approval of the Securities and Exchange Commission to raise N10 billion in funds through a newly introduced savings and investments scheme.

On how it works, he cited an example that someone can buy 100,000 shares for N100,000 by saving over a specified period, between 18 and 24 months, while big pocket investors can activate a one-time payment on their investments. Onajide said the investment would go to a trustee approved by SEC, who will keep the invested sum with interest until the trustee calls a meeting of all subscribers to decide if their money is to be converted into Briscoe shares or not.

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