The Nigeria’s Debt Management Office, DMO, has commenced intensive diversification of investors base in Federal Government bonds, given the tight monetary policy, which has affected banks’ investment in the debt instruments. Director-General of the DMO, Ms Patience Oniha, who said this in Abuja yesterday, explained that private investors’ interests in the bonds had been growing […]
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The Federal Government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in Abuja on Saturday, announced the result and added that the bond would be due in 2025. It said that the high […]
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A report on the real estate sector has highlighted asset-backed bonds and sukuk, among others, as suitable sources of funds for housing delivery in Nigeria. The report, which was launched by the University of Lagos Centre for Housing and Sustainable Development in partnership with the African Research Universities Alliance, stated that real estate investment trust […]
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The African Export-Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support the Small and Medium-scale Enterprises in the region, as African markets gradually open to Islamic finance. The Cairo-based Afreximbank, which was founded by African governments and other investors in 1993 and focuses on trade finance, obtained a $100 million […]
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Nigeria Federal Government, today, in Abuja released ₦100 billion to road contractors to facilitate the construction and rehabilitation of 25 priority road projects across the six geopolitical zones. The Federal Government raised the funds through the issuance of Sukuk bonds. Sukuk bonds are Islamic bonds, structured in such a way as to generate returns to […]
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A bond, according to Nairametrics is a fixed income debt instrument issued by the government (federal or state government) or corporate institutions with a definite date of maturity and a fixed interest payment (known as coupon) payable either semi-annually or annually. The government usually issue bonds at the primary market to raise domestic funds to […]
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The Islamic sukuk bond recently issued by the Federal Government was oversubscribed by more than ₦5 billion, the Debt Management Office said on Tuesday. The ₦100 billion seven-year sukuk offered by the Federal Government, which closed on Friday, attracted a subscription of ₦105,878,320,000, according to a statement issued in Abuja by the DMO. According to […]
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The Nigeria’s Federal Government has said that there is no plan to Islamise the country with the recent issuance of its ₦100 billion Sukuk bond. The Minister of Finance, Mrs. Kemi Adeosun, said this on the sidelines of an investor conference organised by Stanbic IBTC Bank in Lagos. Offer for subscription for the Sukuk bond […]
Read More Nigeria’s Christian Association (CAN) has opposed the floating of the Sukuk Islamic bond by the Federal Government, alleging it is meant to Islamise the country through the back door. CAN, in a statement on Tuesday in Abuja by its General Secretary, Rev. Musa Asake, demanded the abrogation of the laws and framework behind the bond […]
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The Nigeria’s Central Bank urged citizens to take advantage of the sovereign sukuk being offered by the Federal Government in order to support the country’s infrastructural development while making money. At an investors’ forum organised by the Debt Management Office in Kaduna, the CBN’s Deputy Director, Financial Markets Department, Mr. Demenongu Yanfa, assured participants of […]
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Nigeria’s apex capital market regulatory authority, the Securities and Exchange Commission (SEC) has commended the Debt Management Office (DMO) for the proposed Federal Government maiden ₦100.0 billion Islamic debt instrument (Sukuk) in the Nigerian Capital Market. According to the apex regulator, the debt instrument is a major milestone for Nigeria as it would catalyze the […]
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