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Yes. The following fees apply
- Transaction fees
- Payment fees by our payment processor
- 20% withdrawal fees and sales commission
- Foreign exchange fees (if you are buying in a different currency outside the Nigerian Naira- NGN)
- Fractionized gold and/or silver creation and destruction fees.
- Where applicable possible, VAT & Import Duty.
The price trends with the international market price with other variations factored in for ancillary services for precious metals.
Product pricing varies based on brand, size, quality and product design. LBMA products have the highest premium in the global gold market. In Nigeria, they also attract additional VAT & Import Duty. Fractionized SANU that will never be redeemed by physical metal are therefore priced significantly lower than for physical LBMA products. Other non-LBMA products available in Dubai also have their own premiums but not as significant as the LBMA products. In Dubai, the products also do not attract VAT & Import Duty and will utilize less fractionized SANU.
SANU prices can be viewed on the dashboard of the app. SANU prices trend with LBMA market prices.
1 Sanu-GLD (SNG) and 1 Sanu-SLV (SNS) represent 20grams of gold and 50grams of silver respectively.
No. SANU pricing is composite. Pricing variation and fees are dependent on product and the country of physical redemption.
282, Akin Olugbade Street, Victoria Island.
SANU is a fully-owned subsidiary of the Kian Smith Group- owners of the Kian Smith Refinery (licensed).
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SANU is a fully-owned subsidiary of the Kian Smith Group- owners of the Kian Smith Refinery (licensed).
All information contained on or available through this website is for general information purposes only and does not constitute trading and/or investment advice. Please note that certain products will be dependent on market availability. Bullion markets can be volatile and the value of Bullion may fluctuate depending on the market value. As such, buying or selling Bullion involve a degree of risk, which may make them unsuitable for certain persons. Before making any buying or selling decision, you may wish to seek advice from your financial, legal, tax and accounting advisers. You should carefully consider the risks associated with Bullion, taking into account your own individual financial needs and circumstances. Advice should be sought before any decision is made. The historic financial performance of Bullion is not indicative of and does not guarantee future financial performance.
All gold or silver held in SANU's vaults are insured. However, it is also important to note that Buying either *factionized gold or silver and/or physical gold or silver products are not regulated by either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC) so the protections and/or insurnace offered by either bodies are not applicable.
*SANU Gold (SNG) or SANU Silver (SNS) are fractionized gold and silver.
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