• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

Nigeria’s N250 billion Sukuk Bond oversubscribed by 346%

4 years ago
in highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
Bonds - norvanreports

Bonds - norvanreports

51
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s N250 billion Sukuk Bond oversubscribed by 346%

Nigeria’s Sovereign Sukuk Offer attracted over N865 billion subscriptions representing over 346% oversubscription (more than 3 folds). This is according to information from the Debt Management Office.

According to the DMO, N250 Billion Sovereign Sukuk whose offer opened on December 16, 2021, closed yesterday December 23, 2021, with an unprecedented subscription level of over N865 Billion. This outcome represents a subscription level of 346%.

The DMO also reported that demand for the bond was from banks, fund managers, pension funds, as well as non-interest financial institutions, ethical funds, cooperative societies, and retail investors.

Last year, in June, the Debt Management Office (DMO) also said the result of the third Sovereign Sukuk for which it offered N150 billion to investors was attracted 446% or N669.124 billion.

What the DMO is saying

“The increasing level of participation by a more diverse and larger number of investors is a confirmation that the DMO’s objectives of issuing Sovereign Sukuk to grow the domestic investor base and promote financial inclusion is being achieved. In addition, the high subscription level is proof of investors’ acknowledgment of the impact the USD362.57 Billion Sovereign Sukuk issued between 2017 and 2020 has had on the development of road infrastructure in Nigeria.”

Read: Omicron: Regional Minister enforces strict observation of safety protocols amid festivities

RelatedPosts

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Proceeds of the bonds are to be utilized for financing the rehabilitation and reconstruction of road projects across the six (6) geopolitical zones and the Federal Capital Territory.

Why this matters

An oversubscription of any sale of security especially government security indicates demand for government bonds remains high despite concerns about Nigeria’s high debt to service rations. Nigeria’s Sukuk Bond has a history of being oversubscribed.

Nigeria’s N250 billion Sukuk Bond is a 10-Year Ijarah Sukuk due December 2031 and attracts a “Rental Rate” of 12.80% Per Annum. The issuing houses for the Sukuk are Greenwich Merchants Bank Ltd, Vetiva Capital Management Ltd, and Stanbic IBTC Capital Ltd.

Source: nairametrics
Via: norvanreports
Tags: high debt serviceNigeriaNigeria’s N250 billion Sukuk Bond oversubscribed by 346%Stanbic IBTC Capital
No Result
View All Result

Highlights

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Specialised Financial Courts to Prosecute Persons Indicted in Auditor General’s Annual Report, Says President Mahama

Top 50 Mining Companies Surge to New Record Near $2 Trillion Valuation

Trending

Banking & Finance

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach Shareholders of GCB Bank PLC may have to...

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

October 21, 2025

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.