{"id":47555,"date":"2021-03-18T15:10:00","date_gmt":"2021-03-18T14:10:00","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=47555"},"modified":"2021-03-18T15:10:00","modified_gmt":"2021-03-18T14:10:00","slug":"dmo-lists-n162-557bn-7-year-sovereign-sukuk-on-nigerian-exchange-limited","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dmo-lists-n162-557bn-7-year-sovereign-sukuk-on-nigerian-exchange-limited\/","title":{"rendered":"DMO Lists N162.557bn, 7-year Sovereign Sukuk On Nigerian Exchange Limited"},"content":{"rendered":"<p class=\"yiv3515725572MsoNormal\">\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\">The Debt Management Office (DMO) has listed the N162.557billion, 7-year, FGN Ijarah Sukuk with a rental rate of 11.20% on the floor of the Nigerian Exchange (NGX) Limited on Thursday, 18 March 2021.<\/span><\/p>\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\"> The third Sovereign Sukuk was issued on June 16, 2020, and will finance the rehabilitation and construction of key economic road projects across the six geopolitical zones in the country.\u00a0<\/span><\/p>\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\">With this listing, members of the general public who invested in the 2020 Sukuk bonds can now sell their investments and those who wish to invest in Sukuk can now do so.<\/span><\/p>\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\">Speaking about the listing of the third Sovereign Sukuk, the Director-General, DMO, Ms. Patience Oniha stated, \u201cWe are excited that the trading of this Sukuk is now permissible having fulfilled the condition for listing stipulated by the Financial Regulatory Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN). The FGN Sukuk may only be listed for trading on relevant exchanges after the commencement of works on the Road project for the construction of the Sukuk assets. This is in order to create a pool of assets consisting of non-financial and financial assets that could be freely traded while avoiding the prohibition of dealing in interest-based transactions arising out of sale of debt and exchange of currency not at par.\u201d<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\">NGX\u00a0<\/span><span lang=\"EN-GB\">Limited welcomes the listing of the third Sovereign Sukuk on the bourse which will provide exit opportunity for existing investors and further deepen the Nigerian capital market, particularly, the relatively nascent Sukuk market. The issuance and subsequent listing of the Sovereign Sukuk on the NGX underscore the Federal Government\u2019s drive for the development of critical infrastructure needed to unlock economic growth, by leveraging innovative and cost-effective financing structures.<\/span><\/p>\n<p class=\"yiv3515725572MsoNormal\"><span lang=\"EN-GB\">The Exchange continues to deliver on its commitment to provide a platform for issuers and investors to meet their investment objectives. By enhancing access to the Federal Government and the private sector, NGX has promoted and supported the growth of the debt market in Nigeria with listings worth over N2.6Tn in 2020.<\/span><\/p>\n<p class=\"yiv3515725572MsoNoSpacing\">\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office (DMO) has listed the N162.557billion, 7-year, FGN Ijarah Sukuk with a rental rate of 11.20% on the floor of the Nigerian Exchange (NGX) Limited on Thursday, 18 March 2021.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":8875,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[1088],"coauthors":[2391],"class_list":["post-47555","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-sukuk-bond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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