Home Business Banks, pension managers, others stake N105 billion on sukuk bond

Banks, pension managers, others stake N105 billion on sukuk bond

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The Islamic sukuk bond recently issued by the Federal Government was oversubscribed by more than N5 billion, the Debt Management Office said on Tuesday. The N100 billion seven-year sukuk offered by the Federal Government, which closed on Friday, attracted a subscription of N105,878,320,000, according to a statement issued in Abuja by the DMO.

According to the DMO, the project-tied investment facility attracted investors from across a broad spectrum of the public, including pension funds, banks, fund managers and institutional as well as retail investors.

Reacting to the oversubscription, the Director-General, DMO, Ms Patience Oniha, said that the acceptance of the offer was an indication of the viability of the instrument as an investment option as well as a demonstration of utmost faith in the Nigerian economy.

 

 

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