Nigeria’s Debt Management Office lists Third Sovereign Sukuk Amounting NGN 162.557 Billion

The Nigerian Debt Management Office (DMO) announced in a statement that it has listed its third sovereign Sukuk amounting to NGN 162.557 billion on the Nigerian Stock Exchange (NSE) and the FMDQ Securities Exchange (FMDQ). This Sukuk was issued in June 2020, the proceeds of which were used to finance 44 economic road projects across the 6 geopolitical zones of Nigeria. It has a seven-year tenure at 11.2% with maturity in 2027.

Why it matters?

With this listing, those who invested in the 2020 Sukuk issuance can now trade, with new investors holding the opportunity to invest in the Sukuk via the secondary market. Director-General of the DMO, Ms Patience Oniha, explained that the bond had fulfilled the conditions of listing that were specified by the Fi...