• Advertise
  • Contact
GFH News
Ecobank Super Rewards
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
GFH News
No Result
View All Result
Home Economy

FG begins sale of N150bn sovereign Sukuk at 11.2%

gfhnews.com by gfhnews.com
May 21, 2020
in Economy
0
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

The Federal Government on Thursday began the sale of its third tranche 7-year N150 billion Sovereign Sukuk, the Debt Management Office (DMO) said.

The offer circular, which was obtained from its website, said the seven year Islamic Sukuk, referred to as Ijarah, was at a rental rate of 11.2 per cent and would be due in June 2027.

The bond, which was aimed at funding key road infrastructure across the six geo-political zones, was payable semi-annually.

Subscription for the bond,  guaranteed by the government, would close on June 2.

The circular said subscribers could purchase N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter with First Bank and Islamic wealth manager, Lotus Capital managing the sale.

The DMO said it qualified as securities in which trustees could invest under the Trustee Investment Act and as government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.

It would also be listed on the Nigerian Stock Exchange (NSE) and on FMDQ Over-The-Counter (OTC) platform and be classified as liquid asset by the Central Bank of Nigeria (CBN).

It is also certified by the Financial Regulatory Advisory Council of Experts (FRACE) of the CBN, the circular said.

The Federal Government had in 2017 raised a N100 billion seven-year debut Sukuk bond for the financing of 25 road projects across the six geopolitical zones of the country.

It raised another N100 billion in 2018 for a seven-year period for the same purpose, making it N200 billion raised so far for the Sukuk bonds.

Previous Post

COVID-19: FG to dispatch experts to re-engage Kogi Govt

Next Post

COVID-19 economic stimulus: States to get $1.5bn from World Bank — NEC

gfhnews.com

gfhnews.com

Next Post

COVID-19 economic stimulus: States to get $1.5bn from World Bank — NEC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 114 Followers
  • 169k Subscribers
  • 23.6k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Nnamdi Kanu’s trial: Isi Agu cannot be worn in my court – Justice Nyako

Nnamdi Kanu’s trial: Isi Agu cannot be worn in my court – Justice Nyako

February 16, 2022
Army Chief  urges Reps to direct further enquiries on arms deals to past chiefs

BREAKING: Nigeria’s chief of army staff Ibrahim Attahiru killed in plane crash

May 21, 2021

VIDEO: Mazi Nnamdi Kanu having good times with girl who trapped him

June 30, 2021
Breaking: Farouk Lawan bags 7 years jail term for demanding $3m bribe from Femi Otedola

Breaking: Farouk Lawan bags 7 years jail term for demanding $3m bribe from Femi Otedola

June 22, 2021
Emir of Borgu charges Nigerians to be good ambassadors

Emir of Borgu charges Nigerians to be good ambassadors

3
Merck Foundation `More Than a Mother’ campaign against infertility, stigmatization – President

Merck Foundation to celebrate, mentor 2020 winners of More Than A Mother’ FASHION Awards – CEO

2
Infertility is a shared responsibility, couples should work together – Merck Foundation CEO

Infertility is a shared responsibility, couples should work together – Merck Foundation CEO

2
Lead-Em Ambassadors celebrate 2021 International Youth Day

Lead-Em Ambassadors celebrate 2021 International Youth Day

1
2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

July 5, 2022
‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

July 4, 2022
Aquafina: Checkout the Brand Behind the #Padioflife Campaign

Aquafina: Checkout the Brand Behind the #Padioflife Campaign

July 4, 2022
Find lasting solution to insecurity – ACF BoT Chair urges Buhari

Find lasting solution to insecurity – ACF BoT Chair urges Buhari

July 3, 2022

Recent News

2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

July 5, 2022
‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

July 4, 2022
Aquafina: Checkout the Brand Behind the #Padioflife Campaign

Aquafina: Checkout the Brand Behind the #Padioflife Campaign

July 4, 2022
Find lasting solution to insecurity – ACF BoT Chair urges Buhari

Find lasting solution to insecurity – ACF BoT Chair urges Buhari

July 3, 2022

GFH News is a Nigeria based online news platform that gives news on the go. Our team gather news from different sectors, locally and internationally, with fact checks.
Get the news as it breaks.

Browse by Category

  • Agriculture
  • Banking
  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Environment
  • FACT CHECK
  • Feature
  • Foreign
  • Health
  • Infrastructure
  • Labour
  • Law/Judiciary
  • Metro/General News
  • Oil&gas
  • Politics
  • Religion
  • Science
  • Security
  • Sports
  • Technology
  • Tourism
  • Tragedy
  • Uncategorized
  • work

Recent News

2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

2022 FIFA World Cup: Will Milla’s World Cup Record Stand Forever?

July 5, 2022
‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

‘Off Air with Gbemi & Toolz’ and other exciting shows this July on GOtv

July 4, 2022
  • Advertise
  • Contact

© 2020 GFH News

No Result
View All Result

© 2020 GFH News