December 26, 2021 11:27 AM
The Debt Management Office says the country’s fourth road Sukuk instrument valued at N250 billion ended with a subscription level of over N865 billion.The debt office said this in a statement issued over the weekend.Sukuk would prioritise road projects in the Niger Delta and federal capital territory .
“The increasing level of participation by a more diverse and larger number of investors is a confirmation that the DMO’s objectives of issuing sovereign Sukuk to grow the domestic investor base and promote financial inclusion is being achieved,” DMO said. “In addition, the high subscription level is proof of investors’ acknowledgement of the impact the N362.57 Billion Sovereign Sukuk issued between 2017 and 2020 has had on the development of road infrastructure in Nigeria.“The DMO has reaffirmed that the proceeds of the N250 Billion sovereign Sukuk will be used to finance the rehabilitation and reconstruction of road projects across the six geopolitical zones and the federal capital territory.
According to DMO, subscriptions were from banks and fund managers, including pension funds, as well as non-interest financial institutions, ethical funds, cooperative societies, and retail investors.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria's N250 billion Sukuk bond oversubscribedThe Debt Management Office (DMO) has said that the N250 billion Sovereign Sukuk offer attracted unprecedented over-subscription of N865 billion.
Source: TODAY - 🏆 12. / 53 Read more »
Nigeria's N250 billion Sukuk bond oversubscribedThe Debt Management Office (DMO) has said that the N250 billion Sovereign Sukuk offer attracted unprecedented over-subscription of N865 billion.
Source: TODAY - 🏆 12. / 53 Read more »
Don't allow suffering caused by APC dampen hope Christmas offers, PDP tells Nigerians | TheCableThe Peoples Democratic Party (PDP) says Nigerians should embrace the message of hope which Christmas offers despite the current 'excruciating economic hardship'.
Source: thecableng - 🏆 2. / 80 Read more »
UAE suspends passenger flights from Nigeria, Kenya over Omicron COVID-19 variant | TheCableThe United Arab Emirates (UAE) has issued a travel restriction on passenger flights from Nigeria, Kenya, Tanzania, and Ethiopia. This should be old news Everyday they are suspending 😂
Source: thecableng - 🏆 2. / 80 Read more »
Nigeria signs MoU to create intellectual property commercialisation project | TheCableThe federal government has signed a memorandum of understanding (MoU) with UK-based Developing Africa Group to create Africa’s first intellectual property rights (IPR) commercialisation project in Nigeria.Advertisement This was made one of the most common trademark infringement is the Nigerian name itself. Carried out by fraudsters, this IPR commercialisation project will allow the FGN claim it’s name back from the fraudsters. radionigeriahq TradeInvestNG TrademarkBlog INTA WTR_Alerts TeamTrademark
Source: thecableng - 🏆 2. / 80 Read more »
Why everyone is talking about Coca-Cola Nigeria’s 70th anniversary celebration | TheCableCoca-Cola’s 70th anniversary in Nigeria was one for the books. I mean, what else did we expect? It’s ”THE” COCA-COLA! — and yes, there is a lot to unpack so
Source: thecableng - 🏆 2. / 80 Read more »