BUSINESS

DMO Confirms Post-Issurance Review For N250b Sovereign Sukuk

The Debt Management Office Nigeria (DMO) on Friday confirmed the post-issuance review for the FGN N250 Billion Sovereign Sukuk.

NewsBeatng reports that DMO in its Twitter handle @DMONigeria said “the in-house meeting is attended by the DMO and its transaction parties – Greenwich Merchant Bank, Stanbic IBTC Capital, @VetivaCapital @BuraqCapital”

The Federal Government of Nigeria (FGN) was recently assisted to successfully closing the largest Sukuk issuance by the FGN via DMO.

The Sukuk issuance elicited significant interest from both retail and institutional investors, evidenced by its oversubscription of 346%. The Sukuk program is designed to support the construction and rehabilitation of key economic infrastructure such as roads across the six geopolitical zones in Nigeria, and to diversify the sources of government funding.

The symbolic cheque presentation ceremony was held on Thursday, February 3, 2022, at the Ministry of Finance, Abuja.

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