Nigeria’s Debt Management Office has launched a seven-year, N300 billion Sovereign Sukuk, offering a rental rate of 19.75% per annum.
The issuance, which is Series 7 of the FGN Sukuk programme, opened on 12 May and closes 20 May, with settlement scheduled for 23 May.
Also Read: DMO to raise N300bn through Sovereign Sukuk for infrastructure projects
According to DMO Director-General Patience Oniha, proceeds will fund critical infrastructure, while also deepening the domestic debt market and promoting financial inclusion.
Minimum subscription is set at N10,000, which is made up of ten units of N1,000 each, with additional investments in multiples of N1,000, making the offer accessible to both institutional and retail investors across the country.
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