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Nigeria's N250 billion Sukuk bond oversubscribed

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The Debt Management Office (DMO) has said that the N250 billion Sovereign Sukuk offer attracted unprecedented over-subscription of N865 billion.

Oniha said that the massive response was an indication that the idea of growing the domestic investors’ base and promoting financial inclusion through Sovereign Sukuk was achieved.

“The N250 billion Sovereign Sukuk whose offer opened on Dec. 16 closed on Dec. 23, with an unprecedented subscription level of over N865 billion.“An analysis of the subscription data revealed high levels of subscription from banks and fund managers , as well as non-interest financial institutions, ethical funds, cooperative societies and retail investors.

 

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