Nigeria’s TAJBank Kick-starts Country’s First Private Sector Sukuk Offering Worth NGN 100 Billion 

Nigeria’s TAJBank Kick-starts Country’s First Private Sector Sukuk Offering Worth NGN 100 Billion 

https://islamicmarkets.com/articles/nigeria-s-tajbank-kick-starts-country-s-first-private-sector-sukuk-offering-worth
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Nigeria-based TAJBank Limited (TAJBank) has commenced the issuance of NGN 100 billion (USD 236 million) worth of Sukuk, the country’s first private sector Sukuk offering, after the signing of the transaction documents which took place at the bank’s headquarters, in Abuja on the 25th of August 2022.

Why it Matters?

All necessary regulatory approvals have been acquired by TAJBank to launch the offering to the general public and the Sukuk will be listed on the Nigerian Stock Exchange (NSE). According to the bank’s Managing Director and Chief Executive Officer, Hamid Joda, the offer represents an important milestone for Nigeria’s capital market as it is expected to prompt companies to follow in the footsteps of TAJBank with simil...