• About
  • Advertise
  • Contact
Thursday, September 18, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

DMO Offers Fresh N100bln “Sukuk” Bonds To Fund Road Construction

Vital News by Vital News
November 22, 2022
in Economy
0
Share on FacebookShare on Twitter

By Kadiri Abdulrahman

Abuja – The Debt Management Office (DMO) offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on Monday on behalf of the Federal Government.

It stated in Abuja that the offer is of 10-year tenor due for maturity in December 2032.

The bonds are issued by FGN Roads Sukuk Company1 PLC., through Greenwich Merchant Bank Ltd., Stanbic IBTC Capital Ltd. and Vetiva Capital Management Ltd.

A Sukuk funded road

The DMO added that proceeds would be invested solely in the construction and rehabilitation of certain strategic roads across the country.

RelatedStories

FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments

How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote

Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair

Mrs Tinubu Launches N25mln Women Empowerment Programme In Kogi

“Date of offer is Nov. 21; closing date is Nov. 29 while settlement date is Dec. 2. 2032.

“It is offered at N1,000 per unit subject to a minimum subscription 10,000 units and in multiples of 1,000 thereafter.

“Rental payment is made half-yearly while bullet payment (principal sum) will be made on the date of maturity.

“Proceeds will be used solely for the construction and rehabilitation of key road projects across the six geopolitical zones of the country,’’ the DMO stated.

It added that the Ijarah Sukuk bond is backed by the full faith and credit of the Federal Government.

“It qualifies as securities in which trustees can invest under the Trustee Investment Act.

“It also qualifies as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act and for tax exemption for pension funds administrators amongst other investors.

“It will be listed on the Nigerian Exchange Ltd. and the FMDQ Securities Exchange Ltd.

“It is classified as liquid asset by the CBN and certified by the Financial Regulations Advisory Council of Experts also of the CBN,’’ the DMO also stated.

The Ijarah Sukuk, bond like the FGN bonds and FGN savings bonds, constitutes part of the domestic component of government borrowings.

Since it was introduced in 2017, it has provided N612,557 billion for the Federal Government, which has helped in funding 71 roads and six bridges measuring 1,881 kilometres across the country.

Sukuk bond was last issued in December. 2021. (NAN/vitalnewsngr.com)

Tags: BondDMOroadsSukuk
Previous Post

Lagos Medical Doctor Arraigned For Defiling Minor

Next Post

5 Dead, 4 Injured As Truck Crushes Car In Kogi

Vital News

Vital News

RelatedStories

FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments

September 18, 2025
How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote
Economy

How Our Refinery Ended 50 Years Of Fuel Queues In Nigeria – Dangote

September 15, 2025
Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair
Business

Dangote Industries Ltd. Expresses Readiness To Sponsor 2025 Abuja Trade Fair

September 15, 2025
Mrs Tinubu Launches N25mln  Women Empowerment Programme In Kogi
Business

Mrs Tinubu Launches N25mln Women Empowerment Programme In Kogi

September 12, 2025
Tax ID Mandatory Only For  Taxable Persons In Trades, Businesses For Income Generation – FG
Economy

Tax ID Mandatory Only For Taxable Persons In Trades, Businesses For Income Generation – FG

September 12, 2025
Next Post

5 Dead, 4 Injured As Truck Crushes Car In Kogi

EFCC Secures Final Forfeiture Of N775mln, Properties Linked To Otunla,  Ex-AGF

EFCC Secures Final Forfeiture Of N775mln, Properties Linked To Otunla, Ex-AGF

Gunmen Place N100mln Ransom On Two Medical Doctors Kidnapped In Cross River

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Rainy Season Farming : Farmers In Osun, Ekiti, Ondo, Oyo Lament Labour Shortage, Rising Costs Of Inputs

Rainy Season Farming : Farmers In Osun, Ekiti, Ondo, Oyo Lament Labour Shortage, Rising Costs Of Inputs

4 months ago
NASCON Grows Turnover By 37%, Assures Shareholders Of Continuous Growth, Value Creation

NASCON Grows Turnover By 37%, Assures Shareholders Of Continuous Growth, Value Creation

1 year ago
Mawlud : FG Declares Monday, September 16 Public Holiday

Mawlud : FG Declares Monday, September 16 Public Holiday

1 year ago

Police Ban Masquerades In Akwa Ibom Over Murder, Assault Cases

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Marketers Demand N1.5trn Subsidy To Match Refinery Gantry Price – Dangote Refinery

FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments

Dangote Cement, Jakura Community, Sign Landmark Development Agreement In Kogi

GSF Publisher, Lawal Sale, Bags Silk Road Global News Award In China

Tinubu Lifts Emergency Rule In Rivers, Fubara, Deputy, Speaker Resume Tomorrow, September 18

Kidnappers Release Kogi Catholic Priest, Rev. Fr. Ezeamba

Trending

Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
News

We Stand By Our Statement On Demand Of N1.505 trillion Subsidy By DAPPMAN – Dangote Refinery

by Vital News
September 18, 2025
0

Dangote Petroleum Refinery says it stands by its statement on the demand of N1.505 trillion subsidy by...

Nigerian Army Flags Off Renovation Of Iconic 86-year-old Primary School In Modakeke

Nigerian Army Flags Off Renovation Of Iconic 86-year-old Primary School In Modakeke

September 18, 2025
C-ISOWN Praises President Tinubu On Credible Delivery Of Social Welfare Programmes, Achievements In Nigeria

President Tinubu Commiserates With Families Of Victims Of Afriland Towers Fire Incident

September 18, 2025
Marketers Demand N1.5trn Subsidy To Match Refinery Gantry Price – Dangote Refinery

Marketers Demand N1.5trn Subsidy To Match Refinery Gantry Price – Dangote Refinery

September 18, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments

FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments

September 18, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • We Stand By Our Statement On Demand Of N1.505 trillion Subsidy By DAPPMAN – Dangote Refinery September 18, 2025
  • Nigerian Army Flags Off Renovation Of Iconic 86-year-old Primary School In Modakeke September 18, 2025
  • President Tinubu Commiserates With Families Of Victims Of Afriland Towers Fire Incident September 18, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In