NGX lists FG N130bn Sukuk bond
The DMO added that the total sovereign Sukuk issued from 2017 till date stood at N742.56bn and the proceeds had facilitated the construction and rehabilitation of over 75 roads and bridges across the country.
“The listing of the N130bn sovereign Sukuk on the NGX will expand the range of financial offerings available to investors in the capital market. The opportunity to buy and sell the sovereign Sukuk will provide liquidity to investors and promote price discovery,” the DMO said. Reacting to the development, the Divisional Head of Capital Markets at NGX, Jude Chiemeka, commended the DMO for their effective implementation and commitment to following due process in infrastructural financing.
He emphasised the significance of the sovereign Sukuk issuance and subsequent listing on NGX saying, “This listing demonstrates the Federal Government’s dedication to developing critical infrastructure through innovative and cost-effective financing structures.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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