FAQs

At GTL Trustees we have a basket of products and services depending on clients’ expectations, objectives and risk appetite. Some of the key products/services are:

• Fixed deposit investments in FGN Naira: for 30/60/180/365/366 days
• Fixed deposit investments in USD $: for clients seeking to hedge against inflation and Naira devaluation.
• OSG Securities Linked Note:for client’s seeking long term lock-in periods.
• Educational Investment Plan (EIP): An educational product designed to help parents save toward the secondary and university education of their children/Ward.
• Greenwich Kiddies Investment: Designed for parents seeking to save towards the education of their teenage/ infant children between the ages of 0–11.
• GTL investment Club: A thrift society deliberately targeted at employees in paid employment/entrepreneurs whose main objective is growing their savings over time.
• Multiple Office Offering: Targeted at large families who want to preserve the family wealth.
• Pastors and Ministers Retirement Plan: Targeted at serving clergy men whose objective is saving towards their retirement.
• Estate Planning: Designed for individuals wishing to transfer their wealth to family members upon their demise.

All our clients are entitled to quarterly statements and plan are on to enable on-line real time viewing of investment positions by clients. Clients are also entitled to quarterly newsletters enlightening them on all aspects of the financial market.

Within 24 hours of receipt of client’s termination instruction.

Yes. This largely depends on the client’s investment objective(s) and risk appetite. We discuss with our clients and our understanding of the client’s need guide our recommendation(s) on what plans/products/services best suit them.

We have been in existence for over two decades and operate in a sector that is highly regulated by Securities & Exchange Commission (SEC). We have over N50 Billion Assets Under Management. We have consistently delivered value to our clients and stakeholders.

You can fix your money for 30 days, 60days,180 days and 365/6 days tenor.

All earned interest is paid at the maturity of each investment into the client’s designated account or recapitalized (rolled over) with the principal amount or as may be directed by the client.

On notification of the passage of the client, the person indicated in the Investment Form as the Next of kin is contacted and upon confirmation of the client’s passing, the Company’s Deceased Client Policy is applied to enable the family members access the deceased’s funds.

No. Your investment had a pre-agreed rate and so cannot lose value. Whatever interest rate is agreed between our client and the Company is sacrosanct. However, such rate can be reviewed at maturity of the deposit and a new rate, depending on the prevailing market rate will be agreed.

Yes, but strictly on client’s request. In view of the dynamics of these asset classes, we enlighten clients regarding the investment risks inherent in those assets.

The minimum deposit our company accepts would depend on the plan or product selected by the clients.

A Trust is an arrangement that enables a third party to hold assets on behalf of a beneficiary or beneficiaries. The person or institution that holds the assets is the Trustee while the person that sets up the Trust is called the Settlor. The primary consideration of a Settlor in a Trust relationship is to make provision for the welfare and upkeep of the Settlor’s intended and named beneficiaries. Setting up a Trust helps in ensuring the confidentiality of the Settlors wishes and also avoids undue cost which may be associated with other means of devolving assets to beneficiaries. A Trust arrangement makes the assets easily and immediately available to the beneficiaries. In the converse, a Trust may be set up solely to benefit the Settlor for instances of incapacitation etc.

The major difference between a Trust and a Will is that a Will only takes effect after the demise of the Testator (the person who made the Will). Prior to the Testator’s death, the Will remains just a mere intention. Thus, no one has the authority to distribute the assets of a Testator while the maker of the Will is still alive. On the other hand, a Trust becomes operational during the lifetime of the Settlor and this is referred to as the Living Trust which is also a vital offering of the Company.

Another difference between a Trust and a Will is that whereas a single person, group of people or an organization can create the Trust, only a single person can write a Will. Once a Trust, is set up, there is deemed transfer of the titles of the Settlor to the Trustee which is the foundation of the fiduciary relationship between the Settlor and the Trustee.

Well, most Nigerians do not want to think of their mortality and therefore when the issue is discussed, you hear such statements like ‘It is not my portion’ and you ask ‘then whose portion is it’? Some would tell you that ‘yes, I know that I will die but not now’ as if they have a signed contract with death and they know when the contract would terminate.

The other inhibiting factor is that people are not comfortable divulging details of their assets and this makes it difficult or near impossible to set up a proper Trust account for them. We understand this may be an offshoot of the deep-rooted culture and beliefs of Nigerians however this ideology needs to change. For us at GTL Trustees, we work to reassure our existing and potential clients that GTL Trustees is a highly regulated institution with strict rules against unauthorized information disclosure. We recognize the fiduciary responsibilities that exist between our clients and the Company and would always ensure that we are guided and operate within the scope of those responsibilities.

Also, some people think that only those who have significant assets need to have a Will. This is not true because you need to preserve even the little you have for your loved ones. Interestingly, the provision of the Pension Reform Act, 2014 (as Amended) requiring pension fund contributors or retirees accessing pension under the contributory pension scheme to have a Will has further debunked the assertion that you need to have significant assets before writing your Will. This has led to our RSA Will offering.

RSA is an abbreviation for Retired Savings Account. An RSA Will is our Simple Will offering that takes care of pension contributions and bank balances. The Pension Reform Act, 2014 (as amended) implores all employees and contributors under the Pension Scheme to make a Will so that beneficiaries of a deceased employee can easily access their pension contributions. The RSA Will makes it easier for the beneficiaries listed under the Will to have access to the funds in the RSA account in the event that the worker/pensioner dies. It is necessary to correct the notion often held by people that once you have named a certain individual as your ‘Next of kin’ in the plan document, then the named individual is the beneficiary. It is important to know that the named “Next of Kin” does not automatically become the beneficiary of a deceased person, you still need to have a Will in which the beneficiaries are specifically listed.

At GTL Trustees Limited, we offer to draft the Simple RSA Will at a very affordable cost. However, where it is found that the client has more assets outside their RSA balances, we advise such clients on the need to have a Comprehensive Will that encompass all their assets and not just the balances in their RSA.

In making our professional capabilities available to customers on the retail end as well as working with clients to address specific financial pain-points, as initially mentioned, we help to prepare simple Retirement Savings Account Wills (RSA Wills) for our individual clients in order to facilitate seamless transfer of their Pension contributions to their named beneficiaries when they pass on. Other offerings targeted at our retail clients include some tailor-made offerings for individuals wishing to save for the education of their wards. Such products are: Education Investment Plan (EIP), Kiddies Investment Club (G-Kiddies) and GTL Investment Club (G-Sic).

For us at Greenwich Trustees, we believe that the taste of the pudding is in the eating. We render top notch services to our clients and continually strive to add value to them through our offerings. We engage our clients and remain with them until their respective Trust or Wealth Management objectives are achieved. We also have very tight rigorous compliance and risk processes aimed at ensuring that all assets under our custody are safe and secure.