{"id":74590,"date":"2023-08-03T16:50:06","date_gmt":"2023-08-03T15:50:06","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=74590"},"modified":"2023-08-03T16:50:06","modified_gmt":"2023-08-03T15:50:06","slug":"ngx-admits-dmos-n130bn-sukuk-facilitates-fgs-infrastructure-drive","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ngx-admits-dmos-n130bn-sukuk-facilitates-fgs-infrastructure-drive\/","title":{"rendered":"NGX Admits DMO\u2019s N130bn Sukuk, Facilitates FG\u2019s Infrastructure Drive"},"content":{"rendered":"<p>Nigerian Exchange Limited (NGX) on Thursday, admitted the listing of the Federal Government\u2019s N130 billion Sovereign Sukuk through the Debt Management Office (DMO) on its platform.<\/p>\n<p>The Ijara Sukuk\u00a0bond has a duration of 10-year 15.64% and it&#8217;s due date is 2032<\/p>\n<p>According to DMO, the Sovereign Sukuk opened for subscription in November 2022 with an initial offer of N100 billion and garnered immense interest from investors with a remarkable subscription level of N165.25 billion.<\/p>\n<p>This represented over 165% of the amount offered. In a bid to accommodate the needs of diverse investors who subscribed to the Sukuk, N130 billion was allocated.<\/p>\n<p>The total Sovereign Sukuk issued from 2017 till date currently stands at N742.557 billion and the proceeds have facilitated the construction and rehabilitation of over 75 roads and bridges across the country.<\/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>DMO said in a statement, \u201cThe listing of the N130 billion 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.\u201d<\/p>\n<p>Jude Chiemeka, the Divisional Head of Capital Markets at NGX, commended the Debt Management Office under the leadership of Director-General Patience Oniha for their effective implementation and commitment to following due process in infrastructural financing.<\/p>\n<p>He emphasized the significance of the Sovereign Sukuk issuance and subsequent listing on NGX.<\/p>\n<p>\u201cThis listing demonstrates the federal government&#8217;s dedication to developing critical infrastructure through innovative and cost-effective financing structures. NGX is fully committed to providing a robust exchange infrastructure that facilitates efficient capital accessibility for the government to raise essential funds, addressing the infrastructural gap and boosting economic growth. The listing of the Sovereign Sukuk on the Exchange is seen as a positive move, offering an exit opportunity for existing investors and further strengthening the Nigerian capital market\u201d.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Nigerian Exchange Limited (NGX) on Thursday, admitted the listing of the Federal Government\u2019s N130 billion Sovereign Sukuk through the Debt Management Office (DMO) on its platform.<!-- 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":64048,"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-74590","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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